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MIDTERMpractice
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Question 1
Wednesday,11November2015,6:38PM
Finished
Wednesday,11November2015,7:30PM
51mins54secs
Marks
112.00/120.00
Grade
102.67outof110.00(93%)
Correct
CocaColaandPepsiCocompeteacrossanumberofproducts(e.g.,softdrinks,bottledwater)andgeographicmarkets
(U.S.andforeignmarkets)indicatingthatbothcompanieshavemarketcommonality.
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Selectone:
Flagquestion
True
False
Thecorrectansweris'True'.
Question 2
Correct
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Equator,aU.S.manufacturerofpharmaceuticals,hasacquiredafirminthesameindustryinIreland.Itplanstomove
oneofitskeymanagersfromitsplantinSt.LouistoIreland.Thiscanbeconsideredamethodoftransferringcorporate
levelcorecompetencies.
Selectone:
True
False
Thecorrectansweris'True'.
Question 3
Incorrect
Firmsshouldoutsourceonlyactivitieswheretheycancreatethemostvalueorwheretheyareatanadvantage
comparedtocompetitors.
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Selectone:
Flagquestion
True
False
Thecorrectansweris'False'.
Question 4
Correct
Intoday'sglobaleconomy,traditionalfactorssuchaslaborcosts,accesstofinancialresourcesandrawmaterials,and
protectedorregulatedmarketsarelesslikelytobecomecorecompetenciesandpossibilycompetitiveadvantages.
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Selectone:
Flagquestion
True
False
Thecorrectansweris'True'.
Question 5
Correct
Understandinghowtoleveragethefirm'suniquebundleofresourcesandcapabilitiesisakeyoutcomedecisionmakers
seekwhenanalyzingtheinternalorganization.
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Selectone:
Flagquestion
True
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False
Thecorrectansweris'True'.
Question 6
Correct
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DurableCeramics,Inc.,providesinexpensiveceramictiletobuildersofinstitutionalbuildingssuchasschools,prisons,
andpublicadministrationbuildings.Ithasalwayscompetedonacostleadershipbasis.Mostofitsproductsare
purchasedbyafewcommercialconstructionfirms,soitisfairlydependentontheseconstructionfirmsforsellingits
product.DurableCeramic'snextmostefficientcompetitor,CostLessCeramics,Inc.,earnsaveragereturns,while
Durableearnsaboveaveragereturns.ThecommercialconstructionfirmsareputtingpressureonDurabletoreduceits
prices.IfDurablereducesitspricesbelowthoseofCostLess'sprices,itislikelythat
Selectone:
a.CostLesswillgooutofbusiness,andDurablewillgainhigherpoweroveritscustomers.
b.bothDurableandCostLesswilldeviseadditionalwaystobecomemoreefficientintheirproductionprocesses.
c.bothCostLessandDurablewillgooutofbusiness,leavingthecustomerswithfeweralternativesourcesoflow
costtile.
d.Durablewillbeunabletoabsorbthelowercost,andwillgooutofbusiness.
Thecorrectansweris:CostLesswillgooutofbusiness,andDurablewillgainhigherpoweroveritscustomers.
Question 7
Correct
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Alocalrestaurant,FarmFreshIngredients,hasbecomehighlysuccessfulthroughitsmenubasedsolelyonorganically
raisedchicken,beef,andorganicseasonalproduce.Ithasopenednewlocationsinothercities,andthesenewlocations
arebecominghighlyprofitable.FarmFreshcanexpectthat,atbest,itscompetitiveadvantagewillbe
Selectone:
a.sustainable.
b.defensible.
c.temporary.
d.permanent.
Thecorrectansweris:temporary.
Question 8
Correct
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Amajordepartmentstorechainhasastrictpolicyofbanningphotographsorvideosofitssalesfloororbackroom
operations.Italsodoesnotallowacademicstoconductstudiesofitforpublicationinresearchjournals.Infact,someof
itsowntopmanagersrefertothemanagement'spoliciesonsecrecyas"vergingonparanoid."Thesepoliciesindicate
thatthetopmanagementofthefirmbelievestheorganization'scorecompetenciesare
Selectone:
a.unobservable.
b.imitable.
c.causallyambiguous.
d.common.
Thecorrectansweris:imitable.
Question 9
AllofthefollowingareassumptionsoftheresourcebasedmodelEXCEPT
Correct
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Selectone:
a.Eachfirmisauniquecollectionofresourcesandcapabilities.
b.Capabilitiesarehighlymobileacrossfirms.
c.Theindustry'sstructuralcharacteristicshavelittleimpactonafirm'sperformanceovertime.
d.Differencesinresourcesandcapabilitiesarethebasisofcompetitiveadvantage.
Thecorrectansweris:Capabilitiesarehighlymobileacrossfirms.
Question 10
CharacteristicsofthecurrenteconomicsegmentincludeallofthefollowingEXCEPT
Correct
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Selectone:
a.inabilityofeconomiststoprovidevalidandreliablepredictions.
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b.aclearunderstandingoffutureeconomicopportunitiesandthreats.
c.anexpandingeconomyinVietnam.
d.generaluncertainty.
Thecorrectansweris:aclearunderstandingoffutureeconomicopportunitiesandthreats.
Question 11
Complete
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CaseScenario3:BarracudaInc.
BarracudaInc.isalampfixturemanufacturerthatisconsideringanentrystrategyintotheU.S.homefurnishings
manufacturingindustry.Theexistinglandscapeconsistsofmanyplayersbutnonewithacontrollingshare.Thereare
presently2500homefurnishingsfirms,andonly600ofthosehaveover15employees.Averagenetprofitaftertaxis
between4and5%.Whiletheindustryisstillprimarilycomprisedofsinglebusinessfamilyrunfirmsthatmanufacture
furnituredomestically,importsareincreasingatafairlyrapidrate.SomeoftheEuropeanimportsareleadersin
contemporarydesign.Relativelylargeestablishedfirmsarealsodiversifyingintothehomefurnishingsindustryvia
acquisition.Supplierfirmstothehomefurnishingsindustryareinrelativelyconcentratedindustries(likelumber,steel,
andtextiles).Retailers,theintermediatecustomerofthehomefurnishingsindustry,havebeentraditionallyvery
fragmented.Customershavemanyproductstochoosefrom,atmanydifferentpricepoints,andfewhomefurnishing
productshavestrongbrands.Also,customerscanswitcheasilyamonghighandlowpricedfurnitureandother
discretionaryexpenditures(spanningbigscreenTVstothechoiceofpostponinganyfurniturepurchaseentirely).
(RefertoCaseScenario3)Howintenseiscompetitiverivalrylikelytobeamongincumbentsofthehomefurnishings
manufacturingindustry?
Thecompetitiverivalryamongincumbentsofthehomefurnishingmanufacturingindustryishighsincethecharacteristic
ofthehomefurnishingmanufacturingindustryisperfectcompetition.asweknow,perfectcompetitionis:
a.alargenumberofsmallfirms(proofedbythenumber0f2500hoefurnishingfirms)
b.identicalproductssoldbyallfirms(theyjustsellhomefurnishingproducts)
c.Easytoenterandeasytoexit
d.SellerandBuyers'sknowpricesandthetechnology
Asweknowthecharacteristicoftheperfectcompetition,largerplayerarelikelytohavesignificantexitbarriers.Larger
playershavesomebarrierslikeslowgrowth,highfixedcost,lackofdifferentiation,andlowprofitabilityofthemarket
overall.Itisimperativefortheincumbentstodevelopthenewproductinordertodifferentiatewiththecompetitor.Even
theycompeteintheperfectcompetition,companyneedstodifferentiatewitheachotherinothertogaincompetitive
advantage.Thenhowaboutthenewentrantsforthisindustry?thenewentrantsincreasethedegreeofcompetition
sincetheincumbentsneedtocompetewiththenewentrant
Comment:Thebestanswerswillbeabletowalkthroughthedeterminantsofrivalryspelledoutinpages57through58.
Thefactthatthisindustryisfairlycharacterizedashavingnearlyperfectcompetitionsuggeststhatrivalryishigh.Larger
playersarelikelytohavesignificantexitbarriers,particularlygiventheslowgrowth,highfixedcosts,lackof
differentiation,andlowprofitabilityofthemarketoverall.Thus,newlargerentrantstothisindustrymayfurtherescalate
thedegreeofcompetition.
Question 12
Whyisitimportanttopreventcorecompetenciesfrombecomingcorerigidities?
Complete
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FirstIwilldescribewhatiscorerigiditiesmeans.Corerigiditiesstatedastheothersideofcorecompetencies
andcausedbyoverrelianceonanyadvantagesfortoolong.Ithappenedwhencorecapabilitiesisrevealeddueto
externaleventswhennewcompetitorsfigureoutabetterwaytoservefirm'scustomerswhennewtechnologiesemerge
orwhenpoliticalorsocialeventsshiftthegroundunderneath.Ifcorecompetenciesbecomecorerigiditiesitwillbecome
thedisadvantageforthecompany.sincethemainfunctionofcorecompetenceistomakecompetitiveadvantagefor
companysothatthecompanyneedstodevelopthecorecompetenciesofthefirm.forexamplelikebookstoreinorderto
competewithonlinebookstorethedeveloptheircorecompetenciesoftheirbuildingwithcoffeeshopsothatthe
readerfeelcomfortablereadthebook.thebookstoredoesn'tleavethecorecompetenciesofitsvalueofthebuilding
butitdevelopstheotherfunction.Themanager'scompanyneedstostudythefirm'sinternalorganizationinorderto
makecorecompetenciesnotcorerigidities
Comment:Allcorecompetencieshavethepotentialtobecomecorerigiditiesandtogeneratefailure.Eachcompetence
isapotentialweaknessifitisemphasizedwhenitisnolongercompetitivelyrelevant.Thesuccessthatthecompetence
generatedinthepastcangenerateorganizationalinertiaandcomplacency.Acorecompetencecanbecomeobsoleteif
competitorsfigureoutabetterwaytoservethefirm'scustomers,ifnewtechnologiesemerge,orifpoliticalorsocial
eventsshiftintheexternalenvironment.Managersstudyingthefirm'sinternalorganizationareresponsibleformaking
certainthatcorecompetenciesdonotbecomecorerigidities.
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