GBA490 Exam 1

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A boutique hotel provides upscale rooms and superior customer service at value prices

Best cost provider

A merger involves purchasing another company, whereas an acquisition combines two or more companies into one entity

False

what allows a manufacturer to lower unit costs, boost quality, or master a new technology more quickly?

Learning curve effects

The "scope" of a firm refers to

The range of activities a firm performs internally

Transferring core competencies and resource strengths from one country to another is

a good way to develop broader or deeper competencies and capabilties

A mutlidomestic "think-local, act-local" strategy entails

allowing local managers to produce different product versions

The best strategic alliances

are highly selective, focusing on a particular value chain activity

The biggest and most important differences in competitive strategies come down to

broad vs narrow target market, low cost versus differentiation offerings

Crafting a strategy to compete in one or more foreign markets is difficult because

business climates vary with government policies and economic conditions

a clever and well-executed strategy:

can withstand the competitive challenges of rival firms

a good example of vertical integration is a

clothing manufacturer acquiring a textile producer

To use location to build competitive advantage, a company that operates transnationally or globally must

consider concentrating activities in a few countries or dispersing to many

diversification becomes increasingly urgent when there are

diminishing market opportunities and stagnating sales in the core business

strategic offensives should be based on

exploiting a companys strongest competitive assets

The advantage of using a franchising strategy to pursue opportunities on foreign markets includes

franchisees bear most of the costs and risks of establishing new locations

The advantages of using an acquisition strategy to pursue opportunities in foreign markets include

having a high level of control and speed to overcome trade barriers

Dispersing activities to many locations is competitively advantageous when

high transportation costs, diseconomies of scale, and high trade barriers

To determine whether and when to divest a business, managers should ask

if we were not in this business today, would we enter now?

what is a strategic group

industry members with similar competitive approaches and positions

A blue-ocean strategy

involves inventing a new industry or market segment

Good strategy and good strategy execution

is the clearest indicator of good management

Which of the following is a major drawback of outsourcing?

it can hollow out a firms capabilited

organizational capabilities are nearly always

knowledge-based or embedded in organizational processes

which of the following increases the bargaining power of suppliers for uber?

lyft increasing driver wages

All other things equal, the "best" generic strategy is one that

matches a company's internal situation and is difficult for rivals to match

Companies aspiring for global leadership have to prioritize competing in the markets

of developing countries

One of the biggest strategic challenges to competing internationally includes

offering a standardized product worldwide or a customized product offering

The worst targets for an offensive-minded company to target are

other offensive minded companies with sizable war chests

A companys strategic plan

outlines competitive moves and approaches to achieve desired results

To be successful with low cost leadership strategy, managers must

perform value-chain activities more cost-effectively than rivals

effective strategies nearly always requires

performing value chain activities differently than rivals

implementing a strategic approach nearly always requires

performing value chain activities differently than rivals

a company achieves competitive advantage by

providing buyers superior value or at lower cost compared to rival sellers

to differentiate your product offering from rivals, you should

seek sources of value creation that are time consumer or hard to match

A company's strategy is NOT concerned about

staking the same market position as successful rival companies

what does the scope of a firm refer to

the range of internal activities

for different businesses to be "related"

their value chains must exhibit cross-business commonalities

Strategic offensives make sense when a company is

trying to whittle away at a rival's competitive advantage.

Which of the following is NOT a barrier of entry?

weak network effects

The diamond framework is NOT likely to answer which of the questions

what are the disadvantages of allowing foreign competition?

Being a first mover is NOT advantageous under which circumstance

when markets are slow to accept an innovative product

when is it appropriate to use a multi domestic strategy?

when there are significant cross-country differences in market conditions

One of the biggest strategic challenges to competing internationally includes

whether to offer standardized or customized products in different countries


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