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Midterm 2024 strategy & organization
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Chapter 5 Competitive Rivalry and Competitive Dynamics Test Bank (63 questions MAN4720)
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MIDTERM 2024STRATEGY & ORGANISATION
1 Which of the following statements is MOST consistent with the I/O view?
Performance of a firm is most directly attributable to:
A the power of the financial market stakeholders.
B the resources the firm possesses.
C the underlying structural characteristics of the industry in which the firm competes.
D hypercompetition within the industry.
2 The goal of the organization's __________ is to point the firm in the direction of
where it would like to be in the years to come.
A vision
B mission
C culture
D strategy
3 Organizational stakeholders are usually satisfied when:
A their return on investment has been maximized.
B customers pay the highest sustainable price for the goods and services they receive.
C companies provide a dynamic, stimulating, and rewarding work environment.
D companies are paying the highest prices to suppliers.
4 All of the following are assumptions of the resource-based model EXCEPT:
A firms acquire different resources and develop unique capabilities based on how they
combine and use resources.
B firms' performances across time are due primarily to their unique resources and
capabilities rather than the industry's structural characteristics.
C resources and capabilities are highly mobile across firms.
D differences in resources and capabilities are the basis of competitive advantage.
5 An analysis of society's attitudes and values would be conducted when studying the
__________ segment of the general environment.
A sociocultural
B global
C demographic
D economic
6 When rival firms compete aggressively by trying to attract competitors' customers,
this might be an indication of:
A an industry with exit barriers.
B a threat of forward integration.
C All answers are correct.
D high switching costs.
, 7 As customers come to believe that a firm's product is unique, this allows the firm to:
A decreases its advertising expenditures.
B customize its product.
C force other companies out of the market by lowering prices.
D obtain loyal customers.
8 Which of the following is NOT an entry barrier to an industry?
A expected competitor retaliation
B economies of scale
C customer product loyalty
D bargaining power of suppliers
9 For a restaurant business dependent on drive-thru customers, the most relevant
cost disadvantage independent of scale would be if:
A favorable locations are not available.
B other competitors have proprietary product technology.
C access to food and ingredients is difficult.
D other competitors have government subsidies.
10 Firms within strategic groups:
A follow dissimilar strategies.
B follow similar strategies across certain dimensions.
C typically engage in greater intergroup rivalry than intragroup rivalry.
D exist almost exclusively in the manufacturing sector.
11 All of the following are tangible resources EXCEPT:
A patents
B distribution centers
C a firm's reputation
D formal reporting structures
12 Consider the criteria necessary for sustainable competitive advantage. Which of
the following combinations would most likely bring about a temporary competitive
advantage and the possibility for above-average returns?
A Valuable, rare, not costly to imitate, and possibly substitutable
B Valuable, rare, costly to imitate, and possibly substitutable.
C Valuable, not rare, not costly to imitate, and possibly substitutable.
D Valuable, not rare, costly to imitate, and substitutable.
13 Which of the following would be categorized as a value chain activity?
A Hiring new employees.
B Securing financial capital.
C Investing in a new management information system.
D Conducting customer feedback surveys.
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