MGT 499 - STRATEGIC MANAGEMENT FINAL EXAM KEY
TERMS - DR. PAULI COMPREHENSIVE EXAM QUESTIONS
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED (A+
PASS)
CH. 5 Ans✓✓✓
Competitors Ans✓✓✓ firms operating in the same market, offering
similar products, and targeting similar customers
Competitive rivalry Ans✓✓✓ the ongoing set of competitive actions and
competitive responses that occur among firms as they maneuver for an
advantageous market position
Competitive behavior Ans✓✓✓ the set of competitive actions and
responses a firm takes to build or defend its competitive advantages and
to improve its market position
Multimarket competition Ans✓✓✓ occurs when firms compete against
each other in several product or geographic markets
Competitive dynamics Ans✓✓✓ the total set of competitive actions and
responses taken by all firms competing within a market
, Market commonality Ans✓✓✓ concerned with the number of markets
with which the firm and a competitor are jointly involved and the degree
of importance of the individual markets to each
Resource similarity Ans✓✓✓ the extent to which the firm's tangible and
intangible resources compare favorably to a competitor's in terms of type
and amount
Competitive action Ans✓✓✓ a strategic or tactical action the firm takes
to build or defend its competitive advantages or improve its market
position
Competitive response Ans✓✓✓ a strategic or tactical action the firm
takes to counter the effects of a competitor's competitive action
A strategic action or a strategic response Ans✓✓✓ a market-based move
that involves a significant commitment of organizational resources and
is difficult to implement and reverse
A tactical action or a tactical response Ans✓✓✓ a market-based move
that firms take to fine-tune a strategy; these actions and responses
involve fewer resources and are relatively easy to implement and reverse
First mover Ans✓✓✓ a firm that takes an initial competitive action to
build or defend its competitive advantages or to improve its market
position
TERMS - DR. PAULI COMPREHENSIVE EXAM QUESTIONS
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED (A+
PASS)
CH. 5 Ans✓✓✓
Competitors Ans✓✓✓ firms operating in the same market, offering
similar products, and targeting similar customers
Competitive rivalry Ans✓✓✓ the ongoing set of competitive actions and
competitive responses that occur among firms as they maneuver for an
advantageous market position
Competitive behavior Ans✓✓✓ the set of competitive actions and
responses a firm takes to build or defend its competitive advantages and
to improve its market position
Multimarket competition Ans✓✓✓ occurs when firms compete against
each other in several product or geographic markets
Competitive dynamics Ans✓✓✓ the total set of competitive actions and
responses taken by all firms competing within a market
, Market commonality Ans✓✓✓ concerned with the number of markets
with which the firm and a competitor are jointly involved and the degree
of importance of the individual markets to each
Resource similarity Ans✓✓✓ the extent to which the firm's tangible and
intangible resources compare favorably to a competitor's in terms of type
and amount
Competitive action Ans✓✓✓ a strategic or tactical action the firm takes
to build or defend its competitive advantages or improve its market
position
Competitive response Ans✓✓✓ a strategic or tactical action the firm
takes to counter the effects of a competitor's competitive action
A strategic action or a strategic response Ans✓✓✓ a market-based move
that involves a significant commitment of organizational resources and
is difficult to implement and reverse
A tactical action or a tactical response Ans✓✓✓ a market-based move
that firms take to fine-tune a strategy; these actions and responses
involve fewer resources and are relatively easy to implement and reverse
First mover Ans✓✓✓ a firm that takes an initial competitive action to
build or defend its competitive advantages or to improve its market
position
