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Chapter 5 Quiz

The document contains a chapter quiz with multiple choice questions about business strategies and competitive advantage. It covers topics like generic level strategies, differentiation strategy, focus strategy, cost leadership strategy, and the industry lifecycle stages of introduction, growth, maturity, and decline.

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Keith E. Madronero
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110 views

Chapter 5 Quiz

The document contains a chapter quiz with multiple choice questions about business strategies and competitive advantage. It covers topics like generic level strategies, differentiation strategy, focus strategy, cost leadership strategy, and the industry lifecycle stages of introduction, growth, maturity, and decline.

Uploaded by

Keith E. Madronero
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CHAPTER 5 QUIZ

1. It provides an in-depth account of ______________ that are critical for a firm’s


success in its product service market domains.
a. Business- Level Strategies
b. Business Strategies
c. Strategies
2. ____________ define a firm’s position in relation to its competitors in a given
market.
a. Competitive advantage
b. Competitive set
c. Competitive strategies
3. A __________ is defined as the above average profits a firm is able to generate
from its business operations when compared to its competition or competitive set.
a. Competitive set
b. Competitive advantage
c. Competitive strategies
4. A __________ refers to all the firms in a given market or segment that compete
directly against one another.
a. Competitive set
b. Competitive strategies
c. Competitive advantage
5. Strategy enables a firm to become ______ in terms of the position it occupies in
the market.
a. Independent
b. Unique
c. Good
6. A _______ should be accompanied by a clear definition of the industry and the
products and services.
a. Bad Strategy
b. Very Good Strategy
c. Good Strategy
7. Who points out that managers often confuse operational effectiveness with
strategy?
a. Porter (1996)
b. Peter (1996)
c. Chandler (1996)
8. According to him, a firm needs to clearly define its long-term goals and objectives
and how it attain them through predefined courses of action and resource
allocation decisions.
a. Porter (1996)
b. Chandler (1962)
c. Peter (1963)
9. ________ pertains to the market position that firms aim to create.
a. Market
b. Positioning
c. Strategy
10. This kind of positioning relates to the products and services a firm is able to
produce based on distinctive competencies and activities.
a. Variety based positioning
b. Needs based positioning
c. Access based positioning
11. This kind of positioning is targeting customer groups based on their needs.
a. Access based positioning
b. Variety based positioning
c. Needs based positioning
12. This kind of positioning is based on market segmentation in order to identify
customers who could be accessed differently.
a. Variety based positioning
b. Access based positioning
c. Needs based positioning
13. Firms derive this kind of strategy by maintaining a low cost position.
a. Focus strategy
b. Differentiation strategy
c. Cost Leadership strategy
14. This strategy stems from a firm’s objective of providing unique products and
services to its customers compared to competition
a. Focus strategy
b. Differentiation strategy
c. Cost leadership strategy
15. This strategy is narrow in scope in terms of the market segment and the product
service offerings.
a. Focus strategy
b. Differentiation strategy
c. Cost leadership strategy
16. This situation arises when a firm is not able to pursue generic level strategies in
their pure form but combine cost leadership and differentiation.
a. Stuck in front
b. Stuck in the middle
c. Stuck in the end
17. In the _______, very few firms invest in unique resources and capabilities to build
competencies in tapping a new product service market.
a. Introductory phase
b. Maturity phase
c. Shakeout phase
18. When firms grow during growth phase, the industry goes through a ___________.
a. Shakeout phase
b. Maturity phase
c. Growth phase
19. During this phase, supply is almost static with the anticipation that demand would
not fall, and if it does, firms enter the decline phase.
a. Shakeout phase
b. Maturity phase
c. Growth phase
20. _______ are a product of resources and capabilities and are distinctive if the firm
is able to combine them to create a unique advantage.
a. Resources
b. Competencies
c. Strategies
21- 23. THREE GENERIC LEVEL STRATEGIES
24-24. TWO TYPES OF FOCUS STRATEGIES

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