And Answers Updates Tests
In what way does the strategic alliance between GM and Lyft allow GM to hedge against uncertainty? ANS✅
It gives GM access to the market of the future, in which private car ownership model is likely to shift in favor
of fleet ownership and management.
Strategists can grow their firms by growing organically through internal development or externally through
alliances and Blank______. ANS✅ acquisitions
A conceptual model that helps strategists choose between seeking internal development, entering into an
alliance, or acquiring new resources, capabilities, and competencies is called the "Blank______ framework."
ANS✅ Build-Borrow-Buy
A voluntary arrangement between firms to share knowledge, resources, and capabilities to develop products,
processes, or services is known as a Blank______. ANS✅ strategic alliance
One reason why a firm might enter into a strategic alliance is to Blank______. ANS✅ hedge against
uncertainty
How does Lyft benefit from its strategic alliances with GM and Waymo? ANS✅ It allows Lyft to more
effectively compete against Uber.
Drag each definition to the alliance type it describes.
non-equity alliance
equity alliance
joint venture ANS✅ non-equity alliance: partnership based on contracts between firms
equity alliance: partnership in which at least one partner takes partial ownership in the other
joint venture: standalone organization created and owned by two or more parent companies
, Select all that apply
What are three options used by executives to drive firm growth? ANS✅ alliances
acquisitions
organic growth
The most common type of alliance is a(n) Blank______. ANS✅ non-equity alliance
Select all that apply
Which of the following are the three choices in the Build-Borrow-Buy framework? ANS✅ acquisition of new
resources
strategic alliances
internal development
Select all that apply
Which statements correctly describe the advantages commonly possessed by firms in licensing agreements?
ANS✅ Established firms typically have an innovation advantage.
Startups often possess an invention advantage.
In order for an alliance to qualify as Blank______, it must have the potential to alter a company's competitive
advantage. ANS✅ strategic
Equity alliances allow for the sharing of Blank______, which involves information that cannot be codified for
completing tasks. ANS✅ tacit knowledge
Select all that apply
Which of the following are reasons why firms enter into strategic alliances? ANS✅ to learn new capabilities