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Exam 5: Strategic Management

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Question 61

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When fixed costs account for a large part of total costs, what do companies do?

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Companies try to maximize the ...

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Question 62

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According to the strategy diamond, ________________ tells us how profits will be generated above the firm's cost of capital.

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Question 63

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A firm's strategy includes which of the following:

Which of the following forms of diversification occurs when a firm operates multiple businesses within the same industry?

Almost anything a firm possesses can be considered a core competency.

How did XEROX prove unable to exploit its innovative resources

What questions about a company and its environment did the original conception of the strategy model answer

The stronger the power of suppliers in an industry the more likely it is that they will be able to force down prices and reduce the profits of firms that provide the product.

By exploiting internal resources and capabilities and meeting the demanding standards of global competition, firms create value for customers.

Where does strategy formulation fit within the POLC framework?

What industry environments may call for combination strategies

A(n) _______________ asset is a non-physical resource that provides gainful advantages in the marketplace.

Owning resources which do not meet the VRIO test of value puts the firm at a competitive advantage.

______________ are assets that can be seen and quantified.

_____________ growth is the growth rate of a company excluding any growth from takeovers, acquisitions, or mergers.

Competing for the same customers and thus influenced by how customers value location and firm capabilities in their decisions is referred to as the market __________________.

The more it is for other firms to enter a market the more likely it is that existing firms can make relatively high profits.

Goals and objectives are the indicators of how well the ______________ is succeeding.

According to Mintzberg, the percent of intended strategy that becomes a reality is:

_________________ reflects what a firm is doing to achieve its mission and vision, as seen by its achievement of specific goals and objectives.