Exam 3 MQM 385 Questions and
Answers
A competitive advantage based on inimitability can be sustained for at least
some time, if it has the following characteristics: - 🧠 ANSWER ✔✔physical
uniqueness, path dependency, casual ambiguity, and social complexity.
Effective vision statements include - 🧠 ANSWER ✔✔a brief statement of
the company's direction
Strategy analysis is the starting point of the strategic management process
and consists of the - 🧠 ANSWER ✔✔matching of vision, mission, and
objectives with the relevant internal and external environmental factors.
, In large organizations, conflicts can arise between functional areas. In
order to resolve these conflicts, strategic objectives - 🧠 ANSWER ✔✔help
resolve conflicts through their common purpose.
Which of the following firms would likely pose the least competitive threat? -
🧠 ANSWER ✔✔a competitor to your product where a high switching cost
exists
Airbnb, a room-sharing site, offers more rooms than Marriott. Goldman
Sachs suggests that the supply of new rooms over the next two years will
outpace the previous five even though the growth of American occupancy
rates has begun to slow. Which competitive force is involved in this
situation? - 🧠 ANSWER ✔✔the threat of new entrants
Product differentiation by incumbents act as an entry barrier because - 🧠
ANSWER ✔✔new entrants will have to spend heavily to overcome existing
customer loyalties.
Buyer power will be greater when - 🧠 ANSWER ✔✔it is concentrated or
when a buyer group purchases large volumes relative to seller sales
For a firm such as Nordstrom that has no manufacturing operations, value
is added by developing expertise in the procurement of finished goods and
Answers
A competitive advantage based on inimitability can be sustained for at least
some time, if it has the following characteristics: - 🧠 ANSWER ✔✔physical
uniqueness, path dependency, casual ambiguity, and social complexity.
Effective vision statements include - 🧠 ANSWER ✔✔a brief statement of
the company's direction
Strategy analysis is the starting point of the strategic management process
and consists of the - 🧠 ANSWER ✔✔matching of vision, mission, and
objectives with the relevant internal and external environmental factors.
, In large organizations, conflicts can arise between functional areas. In
order to resolve these conflicts, strategic objectives - 🧠 ANSWER ✔✔help
resolve conflicts through their common purpose.
Which of the following firms would likely pose the least competitive threat? -
🧠 ANSWER ✔✔a competitor to your product where a high switching cost
exists
Airbnb, a room-sharing site, offers more rooms than Marriott. Goldman
Sachs suggests that the supply of new rooms over the next two years will
outpace the previous five even though the growth of American occupancy
rates has begun to slow. Which competitive force is involved in this
situation? - 🧠 ANSWER ✔✔the threat of new entrants
Product differentiation by incumbents act as an entry barrier because - 🧠
ANSWER ✔✔new entrants will have to spend heavily to overcome existing
customer loyalties.
Buyer power will be greater when - 🧠 ANSWER ✔✔it is concentrated or
when a buyer group purchases large volumes relative to seller sales
For a firm such as Nordstrom that has no manufacturing operations, value
is added by developing expertise in the procurement of finished goods and
