SEVI 3013 Chapter 6 Exam Questions and Answers
In what way does the strategic alliance between GM and Lyft allow GM to hedge against uncertainty? - AnswerIt gives GM access to the market of the future, in which private car ownership model is likely to shift in favor of fleet ownership and manage...
In what way does the strategic alliance between GM and Lyft allow GM to hedge
against uncertainty? - AnswerIt gives GM access to the market of the future, in which
private car ownership model is likely to shift in favor of fleet ownership and
management.
/.A firm must decide whether to build, borrow, or buy to answer the question of -
Answerhow it will achieve growth
/.Which of the following are the three choices in the Build-Borrow-Buy framework? -
Answerstrategic alliances
internal development
acquisition of new resources
/.Which framework can companies use to assess whether their internal resources are
superior to those of competitors in the targeted area? - AnswerVRIO framework
/.In general, if a resource is highly tradable, then it should be ______ using a license or
contractual agreement - Answerborrowed
/.How does Lyft benefit from its strategic alliances with GM and Waymo? - AnswerIt
allows Lyft to more effectively compete against Uber
/.What are three options used by executives to drive firm growth? - Answeracquisitions
alliances
organic growth
/.A conceptual model that helps strategists choose between seeking internal
development, entering into an alliance, or acquiring new resources, capabilities, and
competencies is called the "______ framework." - AnswerBuild-Borrow-Buy
/.Internal development should occur when the firm's resources are ______ to those of
competitors in the targeted area - Answerboth similar and superior
/.A firm should use an equity alliance, a joint venture, or an outright acquisition in order
to gain use of a resource when - Answerthe resource is not easily traded
/.What are the most expensive, complicated, and difficult to undo options used to grow a
firm? - Answermergers
acquisitions
/.Strategists can grow their firms by growing organically through internal development or
externally through alliances and - Answeracquisitions
, /.A voluntary arrangement between firms to share knowledge, resources, and
capabilities to develop products, processes, or services is known as a - Answerstrategic
alliance
/.Which of the following best exemplifies the relational view of competitive advantage? -
AnswerThe strategic alliance between company A and company B creates more value
than either company individually.
/.Which of the following are reasons why firms enter into strategic alliances? - Answerto
enter new markets
to learn new capabilities
to strengthen their competitive position
/.In general, if a resource is highly tradable, then it should be ______ using a license or
contractual agreement. - Answerborrowed
/.A firm should consider using mergers and acquisitions only when - Answerit is
important to be extremely close to the resource partner in order to understand
underlying information
/.In order for an alliance to qualify as ______, it must have the potential to alter a
company's competitive advantage - Answerstrategic
/.A firm might want to use a strategic alliance to - Answerchange the industry structure
/.What must strategic alliances do in order to create the foundation for a competitive
advantage? - Answerform unique resource combinations that obey the VRIO criteria
/.True or false: Firms tend to enter strategic alliances when they have no other choice. -
AnswerFalse
/.How do foreign governments typically influence a firm's use of strategic alliances to
enter new markets? - AnswerGovernments may require that foreign firms have a local
joint venture partner in order to conduct business within the country's borders.
/.A firm should use an equity alliance, a joint venture, or an outright acquisition in order
to gain use of a resource when ______. - Answerthe resource is not easily traded
/.A real option gives a firm the right to continue making investments - Answerbut does
not obligate the firm to do so
/.When a company makes incremental investments as part of a larger investment and
takes the time to analyze the information gained following each incremental investment,
the company is taking a - Answerreal-options perspective
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