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Question(s) / Instruction(s):

A firm pursuing a best-cost-provider strategy

  1. Seeks to be the low-cost provider in the largest and fastest-growing (or best) market segment
  2. Tries to have the best cost (as compared to rivals) for each activity in the industry's value chain
  3. Tries to outcompete a low-cost provider by attracting buyers on the basis of charging the best price
  4. Seeks to deliver superior value to buyers by satisfying their expectations on key quality/service/feature/performance attributes, and beating their expectations on price (given what rivals are charging for much the same attributes)
  5. Seeks to achieve the best costs by using the best operating practices and incorporating the best features and attributes


Question 7

Potential entrants are more likely to be deterred from actually entering an industry whe

  1. Incumbent firms have previously been aggressive in defending their market positions against entry
  2. Incumbent firms are complacent
  3. Buyers are not particularly price sensitive and the industry already contains a dozen or more rivals
  4. The relative cost positions of incumbent firms are about the same, such that no one incumbent has a meaningful cost advantage
  5. Buyer switching costs are moderately low because of strong product differentiation among incumbent firms


Question 8

One of the biggest Internet-related strategic issues facing many businesses is

  1. Whether to have a company Web site
  2. Whether and how to incorporate use of Internet technology applications in performing various internal value chain activities
  3. How best to try to offset the company's competitive disadvantage vis-à-vis rivals that already sell direct to buyers at their Web site
  4. Whether to form a strategic alliance with a pure dot-com enterprise
  5. What role the company's Web site should play in the company's competitive strategy


Question 9

The competitive attraction of entering into strategic alliances and collaborative partnerships is

  1. In allowing companies to bundle competencies and resources that are more valuable in a joint effort than when kept separate
  2. Speeding new products to market more quickly
  3. Enabling greater vertical integration
  4. In allowing the partners to build distinctive competencies
  5. In helping the partners to increase their respective market shares


Question 10

Perhaps the most reliable way for a company to improve its financial performance over time is to

  1. Put 100% emphasis on the achievement of its short-term and long-term financial objectives
  2. Recognize that the achievement of strategic objectives fosters better long-term financial performance, and that a balanced scorecard approach to objective-setting has much to recommend
  3. Substitute financial intent for strategic intent and judiciously concentrate on the mission of making a profit
  4. Not allocate any resources to the achievement of strategic objectives until it is very clear that the company can meet or beat its stretch financial performance targets
  5. Avoid use of the "balanced scorecard" philosophy – it is foolish to put balanced emphasis on improving the company's financial performance and strategic performance, when achievement of financial performance targets is obviously more important than achievement of strategic performance targets


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