Commercialization of any new -or modified existing-product or process

Which statement is NOT true

The three stages of the industry cycle are introduction, growth, maturity.

The main value drivers for a differentiation strategy are...

product features, customer service and complements

In disruptive innovation a firm targets...

existing markets by using new technologies

The tripple bottom line approach indicates that to obtain a sustainable strategy firms look for a combination of...

Economic, social and ecological concerns

In corporate strategic decision making the core strategic management concepts are...

Core compentencies, economies of scale and of scope, and transaction cost

How do strong ethical values benefit a firm?

They serve as the guardrails put in place to keep the company on track

Measuring performance by firms using accounting data is interesting because ...

They are historical and backward looking

Cooperation by competitors to achieve a strategic objective

External stakeholders are...

Customers, suppliers and alliances

Economies of scope arise from ...

Savings that come from producing two or mote outputs at less costs

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UM_ Strategy Quiz_2022

20 termsStudBud Administration2 plays

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Questions 20

Answers

1
Nike and Addidas have together invested and created a new organization, linked to their independent firm. This is a ..
Joint venture
Equity alliance
Merging
Non-equity alliance
2
What is innovation?
Any idea that has been patented
the transformation of an idea into a new product or process
a unique idea that has not been thought of before
Commercialization of any new -or modified existing-product or process
3
Which statement is NOT true
A standard is an agreed upon set of engineering features and design choices
The three stages of the industry cycle are introduction, growth, maturity.
CrossingTheChasmFramework= each ILC stage is influenced by a customer group
Network effect = positive effect that 1 user has on value for other users
4
To account for the potential impact of changes related to a firm profitability a firm needs to implement a ___ approach
upper-echelon
strategic business units
top-down strategic planning
scenario planning
5
Corporate strategy is concerned with questions related to:
What type of business is most effective
Where to compete
How to compete
How to implement a business strategy
6
The main value drivers for a differentiation strategy are...
learning effects, product features, and customer service
learning effects, customer service and complements
product features, customer service and complements
learning effects, experience curve effects and product features
7
Strategies developed at the departmental level, such as the HR, production, and marketing departments. Are____strategies
Coporate strategies
Functional strategies
Grand strategies
Business strategies
8
In disruptive innovation a firm targets...
new markets by using existing technologies
existing markets by using new technologies
existing markets by using existing technologies
new markets by using new technologies
9
To counter a disruptive innovation a firm may...
Do any of the options listed
Protect the low end of the market
Continue to innovate in order to stay ahead of the competition
Disrupt themselves, rather than waiting for other to disrupt
10
The tripple bottom line approach indicates that to obtain a sustainable strategy firms look for a combination of...
Economic, social and ecological concerns
Economic, ecological and legal concerns
Economic, social and legal concerns
Economic, political and social concerns
11
In corporate strategic decision making the core strategic management concepts are...
Core compentencies, economies of scale and scope and experience curve
Cost leadership, differentiation, core compentencies and economies of scale
Core compentencies, economies of scale and of scope, and transaction cost
Value innovation, cost leadership, differentation and blue ocean strategy
12
The ____ are more a actionable than the vision & mision of the firm, and represent the steps that lead to realization
Objectives
Beliefs
scenarios
Values
13
Top management of Tesla has decided to join the food industry based on its assessment of the profit potential. This is..
corporate strategy
Tactical strategy
Functional strategy
Business strategy
14
How do strong ethical values benefit a firm?
They lay the groundwork for a quick increase of profits and success
They emphasize benefiting stakeholders by significantly increasing profit
They provide strong public relations
They serve as the guardrails put in place to keep the company on track
15
Rolex is selling the same products in domestic and international markets. This is an example of a global...
Multidomestic strategy
None of strategies mentioned
International strategy
Transnational strategy
16
Which of the following alternatives provides the most integrated form of performing an activity of the value chain?
Non-equity alliance
Contract
Joint venture
Lincensing
17
Measuring performance by firms using accounting data is interesting because ...
They consider off-balance sheet items
They are forward looking and have broad perspective
They focus mainly on tangible assets
They are historical and backward looking
18
Co-opetition is...
Competition for the same partner by firms to achieve a strategic objective
Cooperation by buyers of a firm to achieve a strategic objective
Cooperation by competitors to achieve a strategic objective
Cooperation by suppliers of a firm to achieve a strategic objective
19
External stakeholders are...
Customers, suppliers and alliances
Communities, suppliers and stockholders
Stockholders and employees
Media, governments and board members
20
Economies of scope arise from ...
More specialized systems and equipment
Costs going down by learnings
Spreading fix costs over more units
Savings that come from producing two or mote outputs at less costs

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