Managing Industry Competition Flashcard-2

Front

Every firm within a broadly defined industry:

Back

can usually be placed in one of several strategic groups within that industry.

Front

What question does the resource-based view come to answer?

Back

Why are only certain firms within a particular industry successful?

Front

The main goal of a differentiation strategy is to:

Back

identify the attributes and deliver products that attract customers willing to pay a premium price.

Front

Which of the following is TRUE about firms that pursue strategies of both cost leadership and differentiation?
Options:
They become “stuck in the middle” with resulting poor performance.
They cannot be successful in both strategies.
Flexible manufacturing can enable a firm to produce differentiated products at low costs.
Mass customization is the inevitable result of combining strategies.

Back

Flexible manufacturing can enable a firm to produce differentiated products at low costs.

Front

The industry-based view recommends:

Back

backward or forward integration as a way to defend against the power of suppliers and buyers.

Front

Porter’s five forces framework:

Back

identifies both relevant variables and questions to ask.

Front

Which of the following is true regarding supplier relationships in the Japanese keiretsu model? Suppliers are treated as adversaries., Trusted suppliers gain advantages by working outside of the keiretsu., Suppliers are viewed as collaboration partners., Supplier relationships tend to be ineffective.

Back

Suppliers are viewed as collaboration partners.

Front

For firms following a cost leadership strategy, their goal is a:

Back

high-volume, low-margin approach.

Front

Strategists using the industry-based view need to:

Back

see it as a powerful strategic tool.

Front

A niche market that is the goal of a focus strategy might be defined by: a geographical area, type of customer, or product line.

Back

a geographical area, type of customer, or product line.