SM Session 01 - 04

_______ are about the management of suppliers and buyers.

• a. Vertical relationships

• b. Horizontal relationships

• c. Governmental relationships

• d. Institutional relationships

Corporate-level strategy ______.

• a. considers how to differentiate the company's product or service against competitors

• b. considers how to compete in a particular industry

• c. considers what industries and activities the firm should be engaged in

• d. considers the views of the CEO as a direction

A BLUE Ocean strategy is characterized by ______.

• a. calm seas and open horizons

• b. being an innovative space in which new ventures can flourish

• c. intense competition

• d. the US Democratic party strategy

_________ takes an external perspective and is concerned with the industry within which firms operate and behave as producers, sellers and buyers of goods and services.

• a. Resource-based view

• b. Value chain

• c. Industrial organization

• d. Macro economics

What is part of a firm's business environment?

• a. market environment

• b. legal frameworks

• c. institutional structures

• d. all of these

______ refers to the characteristics of the product and is the way through which firms improve the quality of their offerings over time (usually by means of innovation).

• a. Product differentiation

• b. Augmented product

• c. Core product

• d. Product development

A RED Ocean strategy is characterized by ______.

• a. competitive opportunities

• b. communist organizations

• c. intense competition

• d. the US Republican party strategy

Strategists refer to ______ as factors shaping ______ for the organization's goods and services in the environments in which the organization operates.

• a. properties/demand

• b. demand drivers/demand

• c. technology drivers/goals

• d. properties/objectives

What do we call firms that invest in a variety of different product markets to reduce exposure to risk in single product markets?

• a. investment firms

• b. diversified firms

• c. monopolies

• d. oligopolies

Which of the following is NOT one of the forces in Porter's Five Forces model?

• a. threat of government regulation

• b. bargaining power of suppliers

• c. threat of new entrants

• d. threat of substitutes