MAN 4720 exam 1 Questions & Correct Answers | Latest Update |Already Graded A+

A firm has achieved ______ when it successfully formulates and implements a valuecreating strategy. : strategic competitiveness A competitive advantage: : can be identified when competitors are unable to duplicate or find it too costly to try to imitate. Above-average returns are; : returns in excess of what an investor expects to earn from other investments with a similar level of risk. The strategic management process is : the formulation and implementation of a full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. 2 | P a g e According to Hitt, the primary drivers of hypercompetition are: : the emergence of a global economy and rapid technological change. All of the following are characteristics of the global economy EXCEPT: : the increased use of tariffs to protect industries. Essentially, _______ has become one of the world's largest markets with 700 million potential consumers. : the European Union ______ has become the second-largest economy in the world. : China The economic interdependence among countries which is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as: : Globalization Globalization has led to: : higher performance standards including quality and cost. The "liability of foreignness" is the: 3 | P a g e : overall risk of participating outside a firm's domestic country when entering global competition. Even for companies capable of succeeding in global markets, it is critical that they: : remain committed to and strategically competitive in their domestic market. The rate of technological diffusion is increasing. Which of the following was fastest in penetrating 25 percent of homes in the U.S. market? : Internet New markets created by iPods, PDAs, and Wi-Fi are a result of: : disruptive technologies. Henry Ford once said, "If I had asked people what they wanted, they would have said faster horses." The invention of the car is an early example of: : disruptive technologies.