Crowdly

A "focused differentiation" positioning means:

Remaining consistently different over time

Focusing on one industry segments

Offering a unique value to a narrow market

Diversifying into multiple industry segments

When a firm is

‘stuck in the middle’, this means that it has engaged in a price war that it cannot

win.

True

False

Resource heterogeneity

amongst firms creates profitability differences within firms

False,

resources cannot be

heterogeneous

alse, resource

heterogeneity amongst firm do not create profit differences

True,

according to the value

chain analysis

True, according

to the resource-based view

True, according to

the industrial organizations model

A product’s brand or

reputation is known as what type of resource?

None of the above

Random

Tangible

Human

Explicit

The Zara case

questions the extent to which strategic resources can be used to enter a new industry.

True

False

The bargaining power of suppliers is higher when:

Choose all that apply

The suppliers are more highly concentrated

The switching costs for buyers are higher

The PESTEL macro factors are favourable to the business environment

Which of the

following statements about the use of Porter’s Five Forces (PFF) is accurate?

More than one of the above

PFF suggests that

competitiveness of a firm is determined by 5 key forces

Firms use PFF to identify the attractiveness of an industry

PFF enables managers to

identify firm-level risk and returns

Which of the

following is the least suitable example of an ‘S’ factor in the PESTEL

analysis?

Consumerism as a

result of increased social media use

Heightened awareness of

animal abuse leading to veganism

The rise of

religious-based decision making in markets

Decreased use

of consumer disposable income due to higher taxation

Increased

alcoholism amongst the elderly

How to differentiate business strategy and corporate strategy?

Corporate Strategy is about how to compete whereas Business Strategy is about where to compete

Corporate Strategy is about where to compete whereas Business Strategy is about how to compete