Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Chapter 08 - Business Strategy
50. (p. 244) Business strategies require all of these EXCEPT which feature for success in
emerging industry setting?
51. (p. 244) For success in growth industries, business strategies require which of these
features?
52. (p. 244) Business strategies require all of these EXCEPT which feature for success in
growing industries?
53. (p. 246) Strategies used by firms competing in markets where the growth rate of that market
from year to year had reached or is close to zero are called ________ industry strategies.
54. (p. 246) As an industry evolves, its rate of growth eventually
55. (p. 246) For success in mature industries, business strategies require which of these features?
56. (p. 247) Business strategies require all of these features EXCEPT which one for success in
mature industries?
57. (p. 247) Business strategies in maturing industries should avoid all of these pitfalls EXCEPT
which one?
58. (p. 247) Slow growth or a decline in demand for an industry could be caused by
59. (p. 247) __________ industries are those that make products or services for which demand is
growing slower than demand in the economy as a whole.
60. (p. 247) Firms in a declining industry should choose strategies that emphasize all but which
one of the following themes?
61. (p. 248) A fragmented industry is one in which:
62. (p. 249) Businesses in fragmented industries can compete using all of these strategies
EXCEPT
63. (p. 249) When a business introduces standardized, efficient, low-cost facilities at multiple
locations it can be described as following which of these strategies?
64. (p. 249) Focus strategies in fragmented industries can be pursued through:
65. (p. 249) Industries in which competition crosses national borders are called a(n) __________
industry.
66. (p. 250) ________ is targeting a particular segment of the industry for competition on a
worldwide basis.
67. (p. 250) Which of these is NOT a basic option that can/should be used to pursue global
market coverage?
68. (p. 250) Targeting a particular segment of the industry for competition on a worldwide basis
refers to
69. (p. 251) Seeking out countries in which governmental restraints exclude or inhibit global
competitors or allow concessions or both, that are advantages to localized firms refers to
70. (p. 251) Acquisition of firms that supply inputs such as raw materials is referred to as
71. (p. 252) Quadrant I of the Grand Strategy Selection Matrix suggests which of these strategies
when the basic idea underlying the matrix is the choice of an internal or external emphasis for
growth or profitability?
72. (p. 252) Quadrant II of the Grand Strategy Selection Matrix suggests which of these
strategies when the basic idea underlying the matrix is the choice of an internal or external
emphasis for growth or profitability?
73. (p. 251) Acquiring or entering businesses unrelated to a firm's current technologies, markets
or products is referred to as
74. (p. 252) Which of these refers to cutting back on products, markets, operations because the
firm's overall competitive and financial situation cannot support commitments needed to
sustain or build its operations?
75. (p. 252) ________ offers the best possibility for recouping the firm's investment.
76. (p. 252) The sale of a firm or a major component refers to
77. (p. 252) The most common approach in Quadrant III of the Grand Strategy Selection Matrix,
when the basic idea underlying the matrix is the choice of an internal or external emphasis for
growth or profitability is
78. (p. 252) Quadrant IV of the Grand Strategy Selection Matrix suggests which of these
strategies?
79. (p. 253) Selling present products to customers in related marketing areas by adding channels
of distribution is called
80. (p. 254) Which of these strategies are suggested by the first quadrant of the Grand Strategy
Cluster?
81. (p. 254) Quadrant II of the Grand Strategy Cluster suggests which of these strategies?
82. (p. 253) A strategy that seeks to reap the initially high profits associated with customer
acceptance of new or greatly improved product refers to
83. (p. 253) Growth through the acquisition of one or more similar firms operating at the same
stage of the production – marketing chain refers to
84. (p. 253) Which of these refers to acquisition of businesses that are related to the acquiring
firm in terms of technology, markets or products?
Difficulty: Medium
Learning Objective: 6
Essay Questions
85. Evaluate a business's cost leadership opportunities using skills, resources and
organizational requirements.
Learning Objective: 1
86. What are the risks of a cost leadership strategy?
87. Define differentiation. Evaluate a business's differentiation opportunities using skills,
resources and organizational requirements.
Learning Objective: 1
88. What potential risks managers must take into account as they evaluate the differentiation –
based advantages?
Learning Objective: 1
89. Speed-based competitive advantages can be creates around what types of activities?
Explain.
Learning Objective: 1
90. Evaluate the risks of speed as a competitive advantage.
Learning Objective: 1
91. Describe the different stages of industry evolution. Identify the key functional areas and
strategy focus of each stage.
92. Define emerging industries. Describe the features of business strategies required for
success in this industry.
Learning Objective: 4
93. What are the strategic choices in growing industries?
Learning Objective: 4
94. Evaluate the strategic choices for businesses in mature industries.
Learning Objective: 4
95. Define declining industry. What strategic choices do the firms in this industry have?
Explain.
96. Define fragmented industries. What ways businesses in this industry can pursue
strategies? Explain.
Learning Objective: 5
97. What is a global industry? What are the unique strategy-shaping features of global
industries?
Learning Objective: 5
98. What are the strategy choices in global industries?
251.
Learning Objective: 5
99. Briefly describe the Grand Strategy Selection Matrix. What strategies are recommended in
each quadrant? Explain.
Learning Objective: 6
100. Explain the model of Grand Strategy Clusters.
