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When a firm uses the tools and concepts learned from strategic management in order to achieve competitive advantage by pursuing innovation, it is said to be engaging in: strategic entrepreneurship A disruptive innovation leverages _______________ technologies, while architectural inncoations are based on ________________ technologies. new; existing Which of the following is a drawback of using the industry life cycle as a framework to guide strategic choice? The framework does not explain everything about changes in industries. Afya Limited is a new firm that entered the smartwatch industry during the growth stage of the industry life cycle. It managed to become one of the top-three smartwatch manufacturers during the shakeout stage due to its low-cost structure. What features should Afya Limited emphasize in its product marketing to ensure it successfully crosses the chasm into the maturity stage? ease of use Adaptive Biotechnologies Inc. is a company that builds diagnostic devices. It was the first company to develop a compact MRI scanner by reconfiguring the components of the MRI technology. This smaller and user-friendly version of the huge MRI scanner created demand from small hospitals, nursing homes, and private practice doctors who were earlier dependent on the scanning machines in large hospitals. Which of the following types of innovations does this scenario best illustrate? architectural innovation About 20 years ago, Xx-zobam, Inc., produced a sturdy, lightweight backpack in a market that was rapidly growing. Sturdy Light became a leader in this market. Eventually, the backpack market reached the maturity stage and slowed down. However, by this time, Xx-zobam had developed a strong brand name and continued to steadily lead the market. Which of the following describes this scenario? Xx-zobam was a star that developed into a cash cow. Susan owns a firm that is considered fully integrated. Which of the following statements below would best describe a firm that is fully integrated? All of Susan's business activities are conducted within the boundaries of the firm. Silis Autos is known for its affordable and reliable brand of consumer vehicles. Because its shareholders expect to see an improved rate of growth in the coming years, Silis' executives have decided to diversify the company's range of products so that at least 40 percent of the firm's revenue is generated by new business units. However, the company's resources, capabilities, and competencies are limited to producing other forms of motorized vehicles, such as motorcycles and all-terrain vehicles (ATVs). Which type of corporate diversification strategy should Beagle pursue? related constrained Todd Wilkinson, the founder of , looked outside his firm for the right talent in order to develop his firm's website. The search led him and his team to a different country where they were able to procure the right talent to get the job done. This example best illustrates the concept of strategic outsourcing Which quadrant in the core competence-market matrix is the hardest to pursue? building new core competencies to create and compete in markets of the future Which of the following scenarios best illustrates horizontal integration? Siliss Inc. joins with Cancity Inc., one of its direct competitors. The downside of equity alliances is the amount of investment that can be involved. The main reason behind Alphabet's decision to acquire the Israeli start-up company Waze for $1 billion was probably to preempt its competitors from buying Waze. __________ which captures the cultural fit between different firms, is one key element needed when selecting an alliance partner. partner compatibility Jennifer is the CEO of JustFixit Inc., a firm that merges technology with commercial hardware. She has been struggling with the decision to allocate her resources for the development of a new system or go to the market and search for an already established system. The Board of Directors for JustFixlt Inc. suggested that enter a contractual agreement with a partner. This scenario best illustrates the concept of build-borrow-or-buy framework. Three months ago, Colin became a board member at Hooli, a publicly traded company. Two weeks ago, the board members discovered that Hooli's CEO is facing a lawsuit from a family member who accuses the CEO of theft. Based on what you have read, to what ethical standard should Colin and the other board members hold the CEO? They must hold her to the highest ethical standards because the leaders of publicly traded companies must withstand intense public scrutiny. Jonathan is interested in building the centerpiece of his firm's corporate governance, that is made up of individuals from both inside and outside and so hires a ____________ that is made up of individuals from both inside and outside and so hires a the firm. board of directors Martha received a tip from a close friend who is an executive manager of a publicly traded company called TelAmeriCorp Inc. The manager received some inside information about how to trade TelAmeriCorp stock to get a huge profit. He shared this information with Martha. This scenario is an example of information asymmetry