Ready to test your Knowledge?
Try out our new practice tests completely free!
exam preparation banner icon

Global Strategy Study Set 1

Business

Quiz 2 :

Managing Industry Competition

Quiz 2 :

Managing Industry Competition

search
arrow
One of the benefits of having a cost advantage is that it serves as barrier to entry.
Free
True False
Answer:

Answer:

True

arrow
​In order for firms within an industry to be more likely to enjoy higher profitability,product differentiation should be high.
Free
True False
Answer:

Answer:

True

arrow
​It is easier to establish dominance and market share in an industry that provides big-ticket items.
Free
True False
Answer:

Answer:

False

arrow
An industry is defined as a group of firms producing goods and/or services that are similar to each other.
True False
Answer:
arrow
The three generic strategies can strengthen a focal firm's position relative to the five forces.
True False
Answer:
arrow
​If there are many sellers but only a few buyers,the sellers tend to have the most bargaining power.
True False
Answer:
arrow
​Industrial organization economics is a branch of economics that seeks to better understand how firms within an industry may be both centralized and regulated.
True False
Answer:
arrow
​By finding ways to reduce the per-unit cost of its products,a firm enjoys non-scale-based advantages that provide greater profitability.
True False
Answer:
arrow
​Intel held numerous patents for semiconductors,allowing them to hold a significant share of the world's market.These patents represented a significant barrier to entry for other firms wanting to enter the lucrative semiconductor business.
True False
Answer:
arrow
​The three generic strategies include cost leadership,differentiation,and profitability.
True False
Answer:
arrow
Core features of the five forces model remain remarkably insightful when analyzing old industries but not new phenomena,such as e-commerce.
True False
Answer:
arrow
A key indicator of intense rivalry among firms is low cost competitive actions and reactions.
True False
Answer:
arrow
Mass markets tend to be characterized by low profit margins.
True False
Answer:
arrow
The threat of substitutes (products from different industries that satisfy customer needs being met by focal firms)is greater if there are low switching costs.
True False
Answer:
arrow
A key proposition of the five forces framework is that industry structure is unrelated to firm performance and the strength of the five forces.
True False
Answer:
arrow
​The primary contribution of IO economics is the structure-conduct-performance model.
True False
Answer:
arrow
Product proliferation is a potential strategy used to reduce the threat of potential entry.
True False
Answer:
arrow
Substantial switching costs reduce the threat of potential entry.
True False
Answer:
arrow
High exit costs from an industry tend to reduce the intensity of rivalry.
True False
Answer:
arrow
​If there are many buyers but only a few sellers,the buyers tend to have the most bargaining power.
True False
Answer:
Showing 1 - 20 of 90