Midterm MGMT 4513 (Chapters 1-6) || All Answers Are Correct 100%.
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Course
MGMT 4513
Institution
MGMT 4513
Corporate level strategy correct answers about how to achieve above normal returns (competitive advantage) by operating in more than one business/industry
Market Development correct answers moving into different geographic markets
Product Development correct answers developing new products an...
Midterm MGMT 4513 (Chapters 1-6) || All Answers Are
Correct 100%.
Corporate level strategy correct answers about how to achieve above normal returns (competitive
advantage) by operating in more than one business/industry
Market Development correct answers moving into different geographic markets
Product Development correct answers developing new products and/or significantly improving
on existing products
Horizontal Integration correct answers acquisition of competitors; horizontal movement at the
same point in the value chain
Vertical Integration correct answers becoming your own supplier or distributor through
acquisition; vertical movement up or down the value chain
Related Diversification correct answers A firm is related through its diversification when its
businesses share links across products, technologies, distribution channels
Related Diversification Costs correct answers Coordination costs, Integration costs
Related Diversification Benefits correct answers Economies of scope, Sharing activities,
Transferring core competencies, Market power, Vertical integration
Economies of scope correct answers Cost savings that occur when a firm transfers capabilities
and competencies developed in one of its businesses to another of its businesses
Synergy correct answers Revenue enhancement from being within the same corporate parent
Operational Relatedness correct answers Created by sharing either a primary activity such as
inventory delivery systems, or a support activity such as purchasing
Corporate Relatedness correct answers Using complex sets of resources and capabilities to link
different businesses through managerial and technological knowledge, experience, and expertise
Market power correct answers Sell its products above the existing competitive level and/or
Reduce the costs of its primary and support activities below the competitive level
Unrelated Diversification Benefits correct answers Efficient internal capital allocation and
Business restructuring
, Financial Economies correct answers Cost savings are realized through improved allocations of
financial resources
Two types of financial economies correct answers Efficient internal capital allocations and
Purchasing other corporations and restructuring their assets
Efficient Internal Capital Market Allocation correct answers Corporate office distributes capital
to business divisions to create value for overall company
Restructuring correct answers A firm creates value by buying and selling other firms' assets in
the external market
Competitors correct answers Firms operating in the same market, offering similar products and
targeting similar customers
Competitive rivalry correct answers The ongoing set of competitive actions and responses
occurring between competitors. Influences a firm's ability to gain and sustain competitive
advantages
Competitive dynamics correct answers The total set of actions and responses taken by all firms
competing within a market
Multimarket competition correct answers Firms competing against each other in several product
or geographic markets
Competitor Analysis correct answers The firm studies competitors' future objectives, current
strategies, assumptions, and capabilities
Competitor Intelligence correct answers The ethical gathering of needed information and data
that provides insight into A competitor's direction (future objectives), A competitor's capabilities
and intentions (current strategy), A competitor's beliefs about the industry (its assumptions), A
competitor's capabilities
Slow Cycle Market correct answers Competitive advantages are shielded from imitation for long
periods of time and imitation is costly. CA can be sustainable.
Fast Cycle Market correct answers Competitive advantages aren't shielded from imitation,
Imitation happens quickly and somewhat inexpensively, Competitive advantages aren't
sustainable, Non-proprietary technology is diffused rapidly
Competitive Behavior correct answers set of competitive actions and competitive responses the
firm takes to build or defend its competitive advantages and to improve its market position
Market Commonality correct answers the degree to which two companies have overlapping
products, services, or customers in multiple markets
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