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Exam 5: Creating Business Strategies

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Question 91

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All of the following are generic strategies except ________.

A) low-cost leadership
B) better quality
C) differentiation
D) focused low cost

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Question 92

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Diffused cost leadership is one of Michael Porter's four positions in the field of strategic management.

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Question 93

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Greater scale discourages the use of more sophisticated technology.

A successful strategy must be consistent with both a firm's resources and the competitive environment.

During the ________ stage of the industry life cycle, products begin to resemble commodities.

Conditions at different phases of an industry life cycle provide similar opportunities and constraints.

A firm that competes by achieving higher prices and margins because of superior product quality is called a differentiator.

Successful strategic positions are based on the effective implementation of the drivers of cost or differentiation.

What is a learning curve?

Possible threats to the low-cost strategic position include new technology and inferior quality.

A strategy in which elements of one position support a strong standing in the other is called a(n) ________.

Firms that produce differentiated products usually have difficulties managing costs.

The smaller the differentiation, the smaller the market segment to which a product will appeal.

During the ________ stage of the industry life cycle, there is no standardized technology and uncertainty is high.

The likelihood of a firm achieving its objectives is maximized when its vision strategy and industry conditions are aligned.

Focused differentiation targets unique products to relatively small segments.

All of the following are well-known companies pursuing the low-cost leadership strategy except ________.

During an industry's embryonic phase, capital needs may surpass resources and capabilities.

The generic strategies that derive from the strategic-positioning model help managers reduce the effects of intense rivalry on profitability.

According to Porter, what are the two key factors affecting the economic logic of competitive advantage?