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Business
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Strategic Management
Quiz 5: Business-Level Strategy Creating and Sustaining Competitive Advantages
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Question 1
True/False
A platform business such as Airbnb leverages data analytics to differentiate its offer from that of competitors such as VRBO.
Question 2
True/False
The five-forces model suggests that with intense competition an overall low-cost position will not enable a firm to achieve above-average returns.
Question 3
True/False
Airlines such as Emirates exploit the profit pool for competitive advantage by adding fees for a variety of services such as access to airport lounges.
Question 4
True/False
Once established, competitive advantages last forever whether the firm is in a high technology environment or not.
Question 5
True/False
Combination strategies, such as integrating overall low cost and differentiation, makes it easier for rivals to duplicate or imitate because it is harder for the primary firm to providevalue.
Question 6
True/False
A firm can differentiate itself in a support activity by purchasing high-quality components to enhance product image such as Apple does with its laptop computers.
Question 7
True/False
Few turnarounds require firms to analyze both the external and internal environments relevant to their firm.
Question 8
True/False
Overall cost leadership is a generic strategy unlike others that does not require a tight set of interrelated tactics.
Question 9
True/False
Factors that lead to a low-cost position also provide substantial entry barriers to substitute and new products as is demonstrated by the retailer, Aldi, whose focus on minimizing costsacross the entire operation permits it to position well against competitors such as Walmart.
Question 10
True/False
If the overall cost leadership strategy is to provide sustainable competitive advantage, all activities in the value-chain need to be evaluated including the relationships among the value-chain activities.
Question 11
True/False
Caterpillar uses data analytics to differentiate itself from competitors by providing information services.
Question 12
True/False
Piecemeal productivity improvements can be used by a mature business in need of a turnaround.
Question 13
True/False
A platform business is like a matchmaker in that it can bring together buyers and sellers. An example of a successful platform provider is Facebook. By attracting and retaining users through expanding services it differentiates itself from more narrowly-focused competitors such as Twitter.
Question 14
True/False
The market life cycle should be used for short-run forecasting because it provides a conceptual framework for understanding what changes typically occur over the life of an industry.
Question 15
True/False
A pitfall of integrated overall cost leadership and differentiation is underestimating the expenses associated with coordinating value-creating activities in the extended value chain.