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Terms in this set (20)Which of the following is not one of the questions that needs to be answered in thinking strategically about a company's industry and competitive environment? What emerging opportunities and threats are evident in the industry environment? In identifying an industry's dominant economic features, there is a need to consider such things as market size and growth rate, the number of buyers, the scope of competitive rivalry, the number of rivals, demand-supply conditions, product innovation, the degree of product differentiation, the presence of scale economies and/or learning/experience curve effects, and the pace of technological change. According to both the text discussion and the summary in Figure 3.4, which of the following is not among the factors that determine whether competitive rivalry among industry members is strong, moderate, or weak? Whether industry members are vertically integrated and whether the industry is characterized by significant scale economies and rapid technological change The rivalry among competing sellers in an industry intensifies as the number of rivals increases and as they become more equal in size and competitive capability. Factors that cause the rivalry among competing sellers to be weak include strong buyer loyalty, rapid growth in buyer demand, and so many industry rivals that any one company's actions have little impact on the businesses of its rivals. According to both the text discussion and the summary in Figure 3.5, competitive pressures associated with the threat of new entrants grow stronger when industry members are looking to expand their market reach by entering product segments or geographic areas where they currently do not have a presence, when current industry members are unable or unwilling to strongly contest the entry of newcomers, and when a newcomer can reasonably expect to earn attractive profits. Which of the following conditions generally raise the barriers to entering an industry? High capital requirements, difficulties in building a network of distributors-retailers and securing adequate space on retailers' shelves, and the likelihood that industry incumbents will strongly contest the efforts of new entrants to gain a market foothold
Based on both the chapter discussion and the summary in Figure 3.6, competitive pressures stemming from substitute products are weaker when substitutes are higher-priced, buyers don't believe substitute products have equal or better features, and buyers' costs of switching to substitutes are relatively high. Which of the following is not a factor in determining whether the suppliers to an industry are a source of strong, moderate, or weak competitive pressures? Whether the industry supply chain is global or mostly national, whether suppliers have a wide or narrow product line, and whether industry members place orders frequently or infrequently with suppliers Which of the following is not a reason that industry rivals are often motivated to enter into strategic partnerships with key suppliers? To reduce the bargaining power they face from buyers of their products Whether the buyers of an industry's product have strong or weak bargaining leverage over the terms and conditions of sale depends on whether buyers purchase in relatively large or small quantities, whether the costs of switching to competing brands or to substitute products are high or low, and how well informed buyers are about sellers' prices, products, and costs. As a rule, the stronger the collective impact of the five competitive forces, the lower the combined profitability of industry participants and the more "competitively unattractive" is the industry environment. The task of driving forces analysis is to identify what the driving forces are, assess whether the drivers of change are, on the whole, acting to make the industry more or less attractive, and determine what strategy changes are needed to prepare for the impacts of the driving forces. Which of the following is not among the most common types of driving forces? Ups and downs in interest rates, changes in the number of seller-supplier collaborative alliances, and changes in overall industry profitability The procedure for constructing a strategic group map involves 1. identifying the competitive characteristics that differentiate firms' market positions and competitive approaches. A strategic group map is a helpful analytical tool for driving forces and competitive pressures favor some strategic groups and hurt others; and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each group's respective market positions. Trying to determine what strategic moves rivals are likely to make next entails understanding rivals' strategies, watching their actions on a regular basis, sizing up their strengths and weaknesses, gauging how well they are faring in the marketplace, assessing how much pressure they are under to improve their performance, and evaluating the relative merits of their strategic options and alternatives so as to better predict their likely next moves. An industry's key success factors concern the particular strategy elements, product attributes, resources, competencies, competitive capabilities, and market achievements that spell the difference between being a strong competitor and a weak competitor—and sometimes between profit and loss. Which of the following is not an important factor for company managers to consider in drawing conclusions about whether the industry presents an attractive opportunity? How many of the industry's key success factors do companies in the industry typically incorporate into their strategies Which one of the following statements is false? A company's macro-environment includes all relevant external factors and influences that bear upon a company's decision to move to a different strategic group, change its strategic intent, or modify its objectives, strategy, or business model. Sets with similar termsStrategic Management Ch. 320 terms brennakirsten BUSN 495 CH 320 terms allison_sparks56 Strategic Management Quiz Chapter 320 terms emcgraw3665 MGT 499 - Chapter 361 terms Jessica_Kempisty Sets found in the same foldermgmt 495 Chapter 284 terms mckenzie_fitzgerald Strategic Management Ch. 220 terms brennakirsten MGMT 425 CH375 terms ernesto_huerta Chapter 1&229 terms Ma_Co6 Other sets by this creatorSM Test 2219 terms Rauvian SM TEST 1246 terms Rauvian SMCH5AJ47 terms Rauvian SMCH5AJ47 terms Rauvian Verified questionsQUESTION Bank A pays 2% interest compounded annually on deposits, while Bank B pays 1.75% compounded daily. a. Based on the EAR (or EFF%), which bank should you use? b. Could your choice of banks be influenced by the fact that you might want to withdraw your funds during the year as opposed to at the end of the year?Assume that your funds must be left on deposit during an entire compounding period in order to receive any interest. Verified answer
QUESTION Explain the following statement: Our tax rates are progressive. Verified answer
QUESTION Given the following information, determine the beta coefficient for Stock L that is consistent with equilibrium: $\hat{\mathrm{r}}_{\mathrm{L}}=10.5 \% ; \mathrm{r}_{\mathrm{RF}}=3.5 \% ; \mathrm{r}_{\mathrm{M}}=9.5 \%$. Verified answer
QUESTION Define each of the following loan terms, and explain how they are related to one another: the prime rate, the rate on commercial paper, the simple interest rate on a bank loan calling for interest to be paid monthly, and the rate on an installment loan based on add-on interest. If the stated rate on each of these loans was 4%, would they all have equal, effective annual rates? Explain. Verified answer Other Quizlet setsINTB CH1 MC13 terms brianxly Ch. 7 Questions48 terms atan00 Management Final Exam CH.1-20206 terms mooreaj5 Econ. Final Exam Review167 terms Alixiax Related questionsQUESTION What ansoff's strategic opportunity matrix approach would someone use if they attracted new customers to existing products? 2 answers QUESTION Individuals from high-context cultures are sensitive to body language and try to avoid embarrassing others. 11 answers QUESTION As the owner of a small business with 60 employees that makes custom floor mats, Paul makes all of the buying decisions. Paul is most likely the user 14 answers QUESTION political and social activists and nongovernmental organizations 14 answers Which of the following factors should a company consider when determining if an industry?Which of the following factors should a company consider when determining if an industry offers good prospects for attractive profits? - The industry's growth potential. - Whether competition appears destined to become stronger or weaker. - How the industry's driving forces might affect overall industry profitability.
Which of the following are factors that tend to result in weak rivalry among competing sellers?Factors that tend to result in weak rivalry among competing sellers include: B) rapid growth in buyer demand, high buyer costs to switch brands, and more strongly differentiated products.
What are the key success factors in an industry quizlet?What are Key Success Factors? The strategy elements, product and service attributes, operational approaches, resources, and competitive capabilities with the greatest impact on competitive success in the marketplace.
Which question helps to determine an industry's key success factors?An industry's key success factors can always be deduced by asking what factors: such as product attributes and service characteristics are crucial, and what resources and competitive capabilities are needed, and what shortcomings are evident to put a company at a competitive disadvantage.
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Which of the following conditions would generally raise the barrier to entering an industry?
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