BSG Exam 1 (Answered) Complete Solution
100%
Factors that weaken the rivalry among competing sellers include
High buyer costs to switch brands company industry rivals that any one company's
actions have little impact on rivals' businesses, and rapid growth in buyer demand
Which one of the following conditions acts to intensify the competitive pressures
associated with the threat of entry?
A general belief on the part of entry candidates that industry members are unwilling or
unable to strongly contest the efforts of newcomers to gain a market foothold
A competitive environment where there is strong rivalry among sellers, low entry
barriers, strong competition from substitute products, and considerable
bargaining leverage on the part of both suppliers and customers
Makes it hard for industry members to earn attractive profits
Which one of the following is not a factor that affects the strength of supplier
bargaining power?
Whether there are greater or fewer than ten suppliers of the item being purchased from
suppliers
Potential entrants are more likely to be deterred from actually entering an
industry when
Industry incumbents are willing and able to launch strong defensive maneuvers to
maintain their positions and make it harder for a newcomer to compete successfully and
profitably
Which one of the following is not a useful question for company managers to
pose in trying to predict the likely actions of important rivals?
Which competitors are in the best strategic group in the industry?
Which of the following is a major question to ask in assessing a company's
industry and competitive environment?
What forces are driving changes in the industry, and what impact will these changes
have on competitive intensity and industry profitability?
The "driving forces" in an industry
are the major underlying causes of changing industry and competitive conditions and
have the biggest influence on how the industry landscape will be altered
Which of the following statements about the market maneuvering for buyer
patronage that goes on among rival sellers of a product or service is false?
While there is constant jockeying among industry members to improve their market
position and profits, the current market leaders have a 90% or better chance of
continuing their leadership and ultimately winning a sustainable competitive advantage
over the other industry contenders.
The rivalry among competing sellers tends to become a stronger competitive
force when
the products of rival sellers are essentially identical or else weakly differentiated.
Which of the following is generally not considered as a barrier to entry?
Weak brand preference and low degrees of customer loyalty to existing brands
, Which one of the following statements about strategic groups and strategic
group mapping is false?
The hardest aspect of strategic group mapping is always figuring out which of several
possible strategic group maps represents the single one best map for portraying how
competing firms are positioned.
Which of the following are important considerations in evaluating whether an
industry's outlook is conducive to good profitability?
The industry's growth potential, the anticipated strength of competitive forces, and
whether the industry and the company are being favorably or unfavorably impacted by
macro-environmental factors
Which of the following are most unlikely to qualify as driving forces?
Mounting competition from substitutes, increasing efforts on the part of industry
members to collaborate with suppliers, and the speed with which the number of industry
key success factors is either rising or falling
In which of the following circumstances are competitive pressures associated
with the bargaining power of buyers not relatively strong?
When buyer demand is growing rapidly and sellers' products are strongly differentiated
The competitive pressures from substitute products tend to be weaker when
buyers have high costs in switching to substitutes
based on Figure 3.4, which of the following is not a typical competitive weapon
that a can use to battle rivals and attract buyers?
Constructing the biggest production plant of any company in the industry
The best test of whether potential entry is a strong or weak competitive force is
whether
the industry's growth and profit prospects are strongly attractive to potential entry
candidates
The strongest of the competitive forces in the five-forces model of competition is
usually
the competitive pressures associated with the market maneuvering and jockeying for
buyer patronage among rival sellers in the industry
The term strategic group refers to
a cluster of industry rivals that employ similar competitive approaches, have product
offerings that appeal to similar types of buyers, and thus occupy similar market positions
A company's strategy is defined by
the specific market positioning, competitive moves, and business approaches that form
management's answer to "What's our plan for running the company and producing good
results?"
A company's strategy consists of
the competitive moves and business approaches that managers employ to attract and
please customers, compete successfully, pursue opportunities to grow the business,
respond to changing market conditions, conduct operations, and achieve the targeted
financial and market performance
Managerial Commitment incorporates choices and decisions about:
- how to attract and please customers
- how to compete against rivals - and ideally, gain a competitive advantage as opposed
to being hamstrung by competitive disadvantage
100%
Factors that weaken the rivalry among competing sellers include
High buyer costs to switch brands company industry rivals that any one company's
actions have little impact on rivals' businesses, and rapid growth in buyer demand
Which one of the following conditions acts to intensify the competitive pressures
associated with the threat of entry?
A general belief on the part of entry candidates that industry members are unwilling or
unable to strongly contest the efforts of newcomers to gain a market foothold
A competitive environment where there is strong rivalry among sellers, low entry
barriers, strong competition from substitute products, and considerable
bargaining leverage on the part of both suppliers and customers
Makes it hard for industry members to earn attractive profits
Which one of the following is not a factor that affects the strength of supplier
bargaining power?
Whether there are greater or fewer than ten suppliers of the item being purchased from
suppliers
Potential entrants are more likely to be deterred from actually entering an
industry when
Industry incumbents are willing and able to launch strong defensive maneuvers to
maintain their positions and make it harder for a newcomer to compete successfully and
profitably
Which one of the following is not a useful question for company managers to
pose in trying to predict the likely actions of important rivals?
Which competitors are in the best strategic group in the industry?
Which of the following is a major question to ask in assessing a company's
industry and competitive environment?
What forces are driving changes in the industry, and what impact will these changes
have on competitive intensity and industry profitability?
The "driving forces" in an industry
are the major underlying causes of changing industry and competitive conditions and
have the biggest influence on how the industry landscape will be altered
Which of the following statements about the market maneuvering for buyer
patronage that goes on among rival sellers of a product or service is false?
While there is constant jockeying among industry members to improve their market
position and profits, the current market leaders have a 90% or better chance of
continuing their leadership and ultimately winning a sustainable competitive advantage
over the other industry contenders.
The rivalry among competing sellers tends to become a stronger competitive
force when
the products of rival sellers are essentially identical or else weakly differentiated.
Which of the following is generally not considered as a barrier to entry?
Weak brand preference and low degrees of customer loyalty to existing brands
, Which one of the following statements about strategic groups and strategic
group mapping is false?
The hardest aspect of strategic group mapping is always figuring out which of several
possible strategic group maps represents the single one best map for portraying how
competing firms are positioned.
Which of the following are important considerations in evaluating whether an
industry's outlook is conducive to good profitability?
The industry's growth potential, the anticipated strength of competitive forces, and
whether the industry and the company are being favorably or unfavorably impacted by
macro-environmental factors
Which of the following are most unlikely to qualify as driving forces?
Mounting competition from substitutes, increasing efforts on the part of industry
members to collaborate with suppliers, and the speed with which the number of industry
key success factors is either rising or falling
In which of the following circumstances are competitive pressures associated
with the bargaining power of buyers not relatively strong?
When buyer demand is growing rapidly and sellers' products are strongly differentiated
The competitive pressures from substitute products tend to be weaker when
buyers have high costs in switching to substitutes
based on Figure 3.4, which of the following is not a typical competitive weapon
that a can use to battle rivals and attract buyers?
Constructing the biggest production plant of any company in the industry
The best test of whether potential entry is a strong or weak competitive force is
whether
the industry's growth and profit prospects are strongly attractive to potential entry
candidates
The strongest of the competitive forces in the five-forces model of competition is
usually
the competitive pressures associated with the market maneuvering and jockeying for
buyer patronage among rival sellers in the industry
The term strategic group refers to
a cluster of industry rivals that employ similar competitive approaches, have product
offerings that appeal to similar types of buyers, and thus occupy similar market positions
A company's strategy is defined by
the specific market positioning, competitive moves, and business approaches that form
management's answer to "What's our plan for running the company and producing good
results?"
A company's strategy consists of
the competitive moves and business approaches that managers employ to attract and
please customers, compete successfully, pursue opportunities to grow the business,
respond to changing market conditions, conduct operations, and achieve the targeted
financial and market performance
Managerial Commitment incorporates choices and decisions about:
- how to attract and please customers
- how to compete against rivals - and ideally, gain a competitive advantage as opposed
to being hamstrung by competitive disadvantage
