Glo-Bus Chapter 3 Exam Questions and Answers Latest Update (100% Pass)
The "driving forces" in an industry - Answers are the major underlying causes of changing industry and competitive conditions and have the biggest influence on how the industry landscape will be altered
An industry's key succe...
The "driving forces" in an industry - Answers are the major underlying causes of changing industry and
competitive conditions and have the biggest influence on how the industry landscape will be altered
An industry's key success - Answers are the particular strategy elements, product attributes, resource
strengths, competitive capabilities, and market achievements that spell the difference between being a
strong competitor and a weak competitor - and sometimes between profit and loss.
Using the five-forces model of competition to determine what competition is like in a given industry
involves - Answers building the picture of competition in three steps: 1) identifying the specific
competitive pressures of associated with each of the five competitive forces 2) evaluating how strong
the pressures comprising each competitive forces are; and 3) determining whether the collective
strength of all five competitive forces is conducive to high/good industry profitability
Which of the following is generally not considered as a barrier to entry? - Answers rapid market growth
and weakly differentiated product offerings on the part of existing industry members
Which of the following is not a factor that affects the strength of supplier bargaining power? - Answers
Whether there are greater or fewer than ten suppliers of the item being purchased from suppliers
The competitive threat that outsiders will enter a market is weaker when - Answers entry barriers are
high, the pool of entry candidates is small, and buyer demand is growing slowly or is stagnant
Which of the following generally acts to weaken the rivalry among competing sellers? - Answers A
situation where the products of rival sellers are strongly differentiated
Which of the following factors is an important consideration in deciding whether the outlook for the
industry presents the company with good prospects for attractive profitability - Answers whether and to
what degree industry profitability will be favorably or unfavorably affected by the industry's driving
forces
A very revealing indicator of whether potential entry is a strong or weak competitive force in the
marketplace is - Answers whether the industry's growth and profit prospects are strongly attractive to
potential entry candidates
The rivalry among competing firms is generally a stronger competitive force when - Answers rivals have
diverse industry outlook objectives, or strategies and/or have production facilities in countries where
production costs are materially different
Based on Figure 3.4, which of the following is not a typical competitive weapon that a company can use
to battle rivals and attract buyers? - Answers winning a bigger market share
Which of the following statements about strategic groups and strategic group mapping is false? -
Answers The hardest aspect of strategic group mapping is always figuring out which of several possible
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