QUESTION 1 TO 67 -The basic principle of __________ is that incremental production costs decline at a constant rate

· Question 1

The basic principle of __________ is that incremental
production costs decline at a constant rate as production experience is gained.

Learning curve

· Question 2

Which of the following is not one of Porter’s five forces?

Risk of exist

· Question 3

Acting with integrity, promoting sustainability, protecting
the environment, are examples of ____________.

· Question 4

Your firm has moved down the learning curve and is now
producing a very high volume of goods, so high in fact that your purchasing
department has been complaining about the high supply prices for raw materials
that they have been paying because of the need to buy from the industry’s
largest supplier. It is now obvious that your firm _______________.

· Question 5

_________ are specific performance targets in each of the
areas covered by a firm’s mission.

Objective

· Question 6

Aside from having a very intimidating top management that
collectively does not want to hear bad news, the organization’s
________________ can contribute to poor ethical behavior among its employees.

· Question 7

The least costly basis of product differentation to
duplicate _______.

Product features

· Question 8

Porsche is an example of a company that pursues _________.

Horizontal Integration

· Question 9

The most important characteristic of a firm’s resources and
capabilities, in terms of sustaining competitive advantage is ________.

http://www.quickmba.com/strategy/competitive-advantage/

· Question 10

Which of the following is a characteristic of a successful
environmental scanning (ES) system?

· Question 11

Which of the following would be considered an intangible
resource?

Anintangible asset is anassetthat lacks a physical
substance.

How it works/Example:

For example,goodwill,patents, trademarks and copyrights are
intangible assets. None of these assets can be physically touched, but they can
still have value.

The line item for intangible assets is found on thebalance
sheet. Though goodwill is considered an intangible asset, it’s often listed as
a separate line item.

[InvestingAnswers Feature:Financial Statementsfor Beginners
— The Balance Sheet]

Why it Matters:

Intangible assetscan be a significant percentage of a
company’s total assets, and therefore have a big impact on a firm’sbook value.
In most cases, ananalystcalculating book valuewillonly include those intangible
assets that can be separated from the company and sold.Goodwillcannot be
separated from the company, so it is generally not included in book value
calculations. But a valuablepatentcan be sold, and would be included in book
value.

To learn more, click here to seeA Simple Method for
Calculating Book Value.

· Question 12

______ is considered a vehicle in the Business Strategy
Diamond.

Franchising

C) Acquisitions

D) Joint ventures

· Question 13

0 out of 3 points

Which of the following is a nonfinancial performance metric?

· Question 14

Having embedded innovation processes that result in an
unique culture creates causal ambiguity that is difficult to imitate because it
is ______.

· Question 15

Drivers of a low cost strategy can include which of the
following?

· Question 16

The total of primary and support activities by which a firm
produces, distributes, and markets a product is best known as ____________.

· Question 17

0 out of 3 points

Learning and creating strategies based on everyday
observation throughout the lower-levels of the organization is consistent with
the notion of _____.

· Question 18

With respect to the mobile phone industry, if Apple were to
acquire Samsung this would __________________.

· Question 19

Which of the following statements is correct?

· Question 2When considering the VRINE model you could conclude that
_______.

· Question 21

The minimum scale needed to achieve maximum cost savings is
also known as __________.

· Question 22

From the perspective of the United States Government, the
rise of organizations such as ISIS in the Middle East represents _____________,

· Question 23

All of the following except ________ are considered
first-mover advantages.

· Question 24

The ___________perspective on competitive advantage enhances
our understanding on why it is difficult to sustain an advantage over rivals.

· Question 25

An application of ___________ to ___________ might result in
the following conclusions: (1) High-quality inputs: valuable, not rare; (2)
Consistency of product, quality of product, flexibility of manufacturing:
valuable, not rare; (3) Speed and competence in maintaining customers’ canning
lines, quality of technical advice: valuable, rare, costly to imitate.

· Question 26

Shortcomings of the strategic managment process might
include ______.

· Question 27

Which of the following sources of cost advantage is the
least costly to duplicate?

· Question 28

A firm that undertakes backward vertical integration and
develops second sources is pursuing opportunities associated with neutralizing
the threat of ________.

· Question 29

All of the following except _______ are appropriate
characteristics for organizing to implement product differentiation.

· Question 30

0 out of 3 points

Which of the following pressures does not favor industry
globalization?

· Question 31

0 out of 3 points

Which of the following lowers the threat of rivalry in the
industry?

· Question 32

Investment, past success, interconnectedness of resources,
time-compression diseconomies, causal ambiguity and invisible assets are
important factors in determining ________.

· Question 33

Which of the following is true concerning intended and
realized strategies?

· Question 34

During the fall 2014 football season, the University of
Michigan Head Football Coach allowed a quarterback, whom had just experienced a
concussion, to reenter the game. The public outcry from this incident resulted
in forcing the Head Coach to fulfill his leadership role as __________.

· Question 35

3 out of 3 points

Top management was interested in assessing the value of the
knowledge, skills, and abilities of its employees but wanted to include a
valuation of the processes within the company that facilitated teamwork and
cooperation across departments and divisions. Which of the following types of
capital does top management need to assess?

· Question 36

The PESTEL model is most commonly used to analyze the
____________.

· Question 37

Which of the following are key evaluation criteria for
testing the quality of your strategy?

· Question 38

Lowering the price of your products below all of your
competitors is ____________.

· Question 39

Sources of cost advantages include which of the following?

· Question 40

Which of the following is a major limitation of the SWOT
framework?

· Question 41

Which of the following is NOT one of the three overarching
themes in strategic management?

· Question 42

n enabling organizational culture that encourages teamwork
is an example of _________.

· Question 43

________ is a measure of anticipated firm performance.

· Question 44

Which of the following characteristics of Toyota’s value
chain is most likely to lead to a sustained competitive advantage?

· Question 45

A good strategy will utilize _______, neutralize ________,
exploit _______, avoid _________.

· Question 46

Strategic management _________________.

· Question 47

Under Armour’s addition of products such as AllSeason Gear, HeatGear,
and ColdGear is an example of ________.

· Question 48

Which of the following is a limitation of accounting
measures of firm performance?

· Question 49

A firm’s theory of how to compete successfully should focus
on _______.

· Question 50

In order to be price competitive within Industry Z,
competitors had to move down a learning curve, achieve a minimum efficient
scale that required tremendously high investment in physical plant and obtain
the rights to rare and valuable raw materials. Which of the following of
Porter’s 5-Forces appears to be weak?

· Question 51

The total of primary and support value-adding activities by
which a firm produces, distributes, and markets a product is known as ______.

· Question 52

Which of the following measures would be the least
appropriate to use in comparing the performance of two firms that differed
substantially in terms of number of employees?

· Question 53

Which of the following is not true about strategy and/or
strategic management?

· Question 54

Which of the following is true regarding cost leadership?

· Question 55

_________ are companies that provide products and services
that can be used together rather than providing competing products and
services.

· Question 56

Please consider the following pairs of manufacturing costs
and revenues: $10,000<$12,000; $5,000<$11,000; $9,000<$13,000; $11,000<$17,000; $8,000<$14,000. Which of the following lists of strategies follows the same sequence? · Question 57 Holding a conviction that one's own national, group, or cultural characteristics are "normal" is referred to as _________. · Question 58 A set of firms that face similar threats and opportunities that are different from the threats and opportunities facing other firms in an industry are referred to as _________. · Question 59 "Do a firm's resources and capabilities enable the firm to respond to environmental threats or oppotunities?" Is an example of a question of _____. · Question 60 Realized strategy is best described as a combination of _____ strategies. · Question 61 If your firm possesses brand identification and customer loyalty, this is considered a barrier to entry in terms of _______. · Question 62 Using the SWOT analysis, which of the following focus on the firm's internal resources? · Question 63 The primary objective of top management is to ___________. · Question 64 Which of the following is NOT a pressure favoring industry globalization? · Question 65 Being "stuck in the middle" means _________. · Question 66 __________ occurs when the average total cost increases at higher levels of input. · Question 67 A firm, operating under conditions of perfect competition, that generates just enough value with its resources to fully compensate the owners of all those resources, including a risk-adjusted rate of return for suppliers of capital, is likely to be experiencing _______.