SEVI 3013 Exam 1 questions and
answers graded A+ passed
strategic competitiveness - correct answer ✔✔achieved when a firm successfully formulates
and implements a value-creating strategy
strategy - correct answer ✔✔an integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage
competitor analysis - correct answer ✔✔focuses on each company against which a firm
competes directly
In a competitor analysis, the firm seeks to understand the following: - correct answer ✔✔-
What drives the competitor, as shown by its future objectives
- What the competitor is doing, as revealed by its current strategy
- What the competitor believes about the industry, as shown by its assumptions
- What the competitor's capabilities are, as shown by its strengths and weaknesses
Above-average returns - correct answer ✔✔returns in excess of what an investor expects to
earn from other investments with a similar amount of risk
strategic management process - correct answer ✔✔the full set of commitments, decisions, and
actions firms take to achieve strategic competitiveness and earn about-average returns
- the process involves analysis, strategy, and performance (the A-S-P model)
, Competitive Landscape - correct answer ✔✔The fundamental nature of competition in many of
the worlds industries is changing
Hypercompetition - correct answer ✔✔a condition where competitors engage in intense rivalry,
markets change quickly and often, and entry barriers are low
makes it difficult for firms to maintain a competitive advantage
Hypercompetition is constantly changing based on - correct answer ✔✔- Price-quality
positioning
- Competition to create new know-how and establish first-mower advantage
- Competition to protect or invade
Two types of hypercompetition - correct answer ✔✔1. The emergence of a global economy
2. Rapid technology change
I/O Model - correct answer ✔✔the profitability potential of an industry or a segment of it as
well as the actions firms should take to operate profitably are determined by a set of industry
characteristics, such as:
· Economies of scale
· Barriers to market entry
· Diversification
· Product differentiation
suggests that returns are influenced more so by the characteristics of the external environment
than a firm's unique internal resources and capabilities.
answers graded A+ passed
strategic competitiveness - correct answer ✔✔achieved when a firm successfully formulates
and implements a value-creating strategy
strategy - correct answer ✔✔an integrated and coordinated set of commitments and actions
designed to exploit core competencies and gain a competitive advantage
competitor analysis - correct answer ✔✔focuses on each company against which a firm
competes directly
In a competitor analysis, the firm seeks to understand the following: - correct answer ✔✔-
What drives the competitor, as shown by its future objectives
- What the competitor is doing, as revealed by its current strategy
- What the competitor believes about the industry, as shown by its assumptions
- What the competitor's capabilities are, as shown by its strengths and weaknesses
Above-average returns - correct answer ✔✔returns in excess of what an investor expects to
earn from other investments with a similar amount of risk
strategic management process - correct answer ✔✔the full set of commitments, decisions, and
actions firms take to achieve strategic competitiveness and earn about-average returns
- the process involves analysis, strategy, and performance (the A-S-P model)
, Competitive Landscape - correct answer ✔✔The fundamental nature of competition in many of
the worlds industries is changing
Hypercompetition - correct answer ✔✔a condition where competitors engage in intense rivalry,
markets change quickly and often, and entry barriers are low
makes it difficult for firms to maintain a competitive advantage
Hypercompetition is constantly changing based on - correct answer ✔✔- Price-quality
positioning
- Competition to create new know-how and establish first-mower advantage
- Competition to protect or invade
Two types of hypercompetition - correct answer ✔✔1. The emergence of a global economy
2. Rapid technology change
I/O Model - correct answer ✔✔the profitability potential of an industry or a segment of it as
well as the actions firms should take to operate profitably are determined by a set of industry
characteristics, such as:
· Economies of scale
· Barriers to market entry
· Diversification
· Product differentiation
suggests that returns are influenced more so by the characteristics of the external environment
than a firm's unique internal resources and capabilities.
