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Capstone
UCO Capstone
80
Business
Graduate
03/06/2012

Additional Business Flashcards

 


 

Cards

Term
The essence of strategy is ___________ , which forces trade off in terms of what to do, what not to do
Definition
Choosing an unique competitive position
Term
Strategy formulation is about crafting a long term vision for an organization while maintaining a degree of flexibility about how to get there and creating a portfolio of options for adopting the change. ___________ is an essential component of this process.
Definition
Learning
Term
Executive summary of the strategic goals a company has adopted and a motivational message
Definition
Strategic Intent
Term
According to Jim Collins, which is NOT a significant factor in determining a company’s ability to achieve greatness
Definition
Technology
Term
In crafting a vision statement, two important lessons are worth learning. Which one is NOT mentioned as lessons in text?
Definition
Understanding the company’s sources of competitive advantage
Term
What really works” there are four primary practices that winning companies use to achieve excellence. Which is included in the 4 primary practices?
Definition
a. A clear stated, focused strategy
b. A performance, oriented culture
c. A fast, flexible, flat orientation
d. All are primary practices.
Term
Whereas economists, a financial analysts focus on value created for shareholders, strategists tend to focus on creating sustainable competitive advantage through value delivered to ______
Definition
Customers
Term
According to Collins, the quality to ensure of top leadership defined a significant difference between good and great companies. Collins identified level 5 leaders as a common shareholder of a great company. Level 5 leaders display an unusual mix to infuse determinant and profession
Definition
Humility
Term
The “Hedgehog” concept is used as a metaphor to describe the idea that great companies_____
Definition
Do one thing better than any other company in the world.
Term
The authors of the text distilled the founding of two recent books as successful companies (“Good to Great” and “What Really Works”) into 6 primary findings which of the following is included in their findings :
Definition
a. Company’s strategy
b. Ability to execute
c. Leadership and talent pool
d. All are important.
Term
Which one o the following is not one of the "Globalization" mentioned in the text?
Definition
a. Sociocultural
Term
The Text mentioned a number of implications that changes in the global environment can have for strategy formulation. Those implications include which of the following?
Definition
Diminishing importance of Location and Increased importance of human capital
Term
Corporate Social Responsibility better aligns corporate activities with ___________________ expectations of shareholders.
Definition
SOCIAL, ECONOMIC, AND ENVIRONMENTAL
Term
According to the text, when analysts are uncertain it is important to look at uncertainty after all__________ change forces have been analyzed.
Definition
Knowable
Term
According to the text, in characterizing how firms deal with uncertainty, ___________ drive industry toward a structure that is toward their benefits.
Definition
Shapers
Term
When analyzing uncertainty, level 3 uncertainty would suggest that adapters would be:
Definition
More aggressive as opportunities emerge
Term
The first fundamental determinant of a firm's profitability is industry __________
Definition
Attractiveness
Term
The five forces determine industry profitability because they influence which of the following in the industry?
Definition
Prices
Term
Industry structure determines who keeps what proportion of the ___________ a product or service creates for buyers.
Definition
value
Term
According to Porter, _________ is at the core of the success or failure of firms
Definition
Competition
Term
An industry is assessed on a number of dimensions including products, customers, and _________
Definition
geography & production-distribution pipeline
Term
When performing industry analysis it is important to distinguish between the industry and ________
Definition
the market served
Term
In competitive analysis, the crucial question in determining profitability is weather firms can capture the value they create for buyers on whether this value is competed away to others. _________ determines who captures the value.
Definition
Industry Structure
Term
Industry profits are the function of supply and demand. However, the supply and demand volume can be affected by industry structure which would include all of the following except:
Definition
Exit Barriers preventing firms from entering industry
Term
According to Porter, which of the following are a major barrier to market entry?
Definition
Capital requirements *I think the answer is C but I don’t have the book next to me to verify… look up this answer….
Term
According to Porter, suppliers are generally more powerful when:
Definition
There are few dominant companies.
Term
When examining the trajectories of change, which can describe how industries evolve. ______ change suggests that the firm’s core assets are threatened and the core activities retain their value.
Definition
Creative
Term
According to the product lifecycle model, in which stage is the Powers of Suppliers LOW, and Barriers to Entry HIGH
Definition
Maturity
Term
Two central questions underline the choice of competitive strategy. 1- Attractiveness of industries for long term _________ and the factors that determine it, and 2- the determinants of relative competitive__________ within the industry?
Definition
Profitability, Position
Term
__________ is the process of driving an industry in market into relatively homogenous minimally overlapping segments that benefit from distinctive competitive strategies.
Definition
Strategic Segmentation
Term
A company's strategic resource base consists of which type of assets?
Definition
organizational
Term
Value chain analysis is based on the idea that every firm is a collection of blank, that are necessary in order to design, produce, market, and support its products:
Definition
activities
Term
linkages can lead to competitive advantage in 2 ways: optimization and
Definition
coordination
Term
resources are ____________ when they enable a firm to conceive or implement strategies that improve its efficiency and effectiveness.
Definition
valuable
Term
___________________ focuses on cash flow generation which is the principal determinant of shareholder wealth.
Definition
shareholders value analysis
Term
competitive scope can have a powerful effect on competitive advantage. There are 4 dimensions of scope that affect the value chain including:
Definition
A) segment scope B) geographic scope
C) vertical scope
D) all of the above
Term
Organizational resistance to change can take 4 basic forms including all of the following except:
Definition
A) close mindsets reflecting supports from obsolete business beliefs
**B) change momentum that is productive but not in tune with current strategies C) structural, organizational rigidities
D close parentheses entrenched cultures reflecting value not conducive to change
Term
___________ exists when the link between the resources controlled by a firm and the sustained competitive advantage is not understood:
Definition
causal ambiguity
Term
Barney suggested for empirical indicators of the potential of further resources to generate sustained competitive advantage, which included all of the following except:
Definition
differentiable
Term
A firm's internal stakeholders include which of the following?
Definition
employees
Term
According to Teece et. al. competitive advantage is associated with which of the following?
Definition
a. distinctive processes.
b. evolution paths
c. competitive forces
d. A & B ***
Term
According to Teece et al, the likehood that competitive advantage is eroded is based on all of the following except:
Definition
a. Stability of market demand
b. Ease of replicability
c. VALUE OF THE RESOURCES ***
d. all of the above.
Term
The dynamic capability approach focuses in the way in which combinations of resources can be developed, _________ , and protected.
Definition
a. DEPLOYED ***
b. appropriated
c. monetized
d. all of the above.
Term
When discussing dynamic capabilities, the term "dynamic" is meant to signing the capacity of the firms to renew competencies so as to match:
Definition
a. Historical path dependencies
b. THE CHANGING BUSINESS ENVIRONMENT ***
c. internal resource capabilities
d. all of the above (pg. 515 , paragraph 2)
Term
The ___________ views the strategic problem as one of interaction between rivals with certain expectations about how each other will behave
Definition
GAME THEORETIC MODEL
Term
Generally speaking which of the following activities would not be considered a dynamic capability?
Definition
a. Integrating resources
b. Reconfiguring resources
c. gaining of releasing of resources
d. ALL OF THE ABOVE ***
Term
Effective dynamic capabilities have certain commonality serves firms, but at the same time are __________ in details
Definition
a. complicated
b. IDIOSYNCRATIC ***
c. Inimitable
d. Appropriable
Term
Effective dynamic capabilities in high velocity markets are__________________
Definition
a. SIMPLE ***
b. complex
c. Inimitable
d. Predictable
Term
According to Eisenhand and Martin in which of the following does the potential for long-term competitive advantage lie?
Definition
a. creating differentiable resources
b. leverage existing resources
c. USING DYNAMIC CAPABIITIES MORE FORTUITOUSLY ***
d. the substitutability of resource configuration
Term
Overall, dynamic capabilities are best conceptualized as tools that ____________
Definition
a. MANUPULATE RESOUCES CONFIGURATIONS ***
b. allow the firm to match competitors
c. exploit VRIN firm-specific resources
d. all of the above
Term
The relative profitability of rival firms depends on the nature of their competitive position lie on their ability to create a sustainable competitive advantage vis a vis their _________
Definition
a. COMPETITORS ***
b. Customers
c. Suppliers
d. Shareholders
Term
Managers face 4 key challengers in formulating competitive strategy at the business unit level. These four challenges include all the following except:
Definition
a. FOCUSING ON THE NEXT BIG THING
b. Analyzing the completive advantage
c. Anticipating key competitors actions
d. Choosing among the alternatives
Term
Achieving ________ requires a ruthless devotion to minimizing costs through continuous improvement in manufacturing, process engineering, manufacturing, process engineering, and other cost reducing strategies.
Definition
a. COST LEADERSHIP
b. differentiation
c. focus with differentiation
d. none of the above.
Term
The two generic routers to competitive advantage-low cost and differentiation are fundamentally different. _____________ is about redefining the rules by which costumers arrive at their purchase decisions by offering something unique that is valuable.
Definition
a. DIFFERENTIATION
b. Cost Leadership
c. Focus with cost leadership
d. None of the above.
Term
According to Treacy and Wierseman value disciplines describe different ways that companies can create value for customers. These ways include all the following except :
Definition
a. PORTER`S FIVE FORCES
b. product leadership
c. operational excellence
d. customer intimacy
Term
In growth industries, competitors tend to focus on expanding their _______
Definition
a. MARKET SHARE
b. resource base
c. internal capabilities
d. Supplier pool
Term
When introducing new product or services, the first company to come out with new products or services often has _________
Definition
a. FIRST MOVER ADVANTAGE
b. cost disadvantage
c. barrier to profitability
d. all of the above.
Term
Firms earn attractive profits during the long maturity stage of an industry’s growth when they do all the following except:
Definition
a. FOCUS ON TURNAROUND OPPORTUNITIES.
b. concentrate on segments that offer chances for high growth
c. streamline production
d. gradually harvest the business
Term
____________ are those in which no single company or small group of firms has a large enough market share to strongly affect industry structure.
Definition
FRAGMENTED INDUSTRIES
Term
According to Porter`s the essence of strategy is choosing to performs ____________ differently than rivals do.
Definition
ACTIVITIES (article)
Term
_________________ is an entry strategy that is relatively low risk, but can entail substantial cost and limited control.
Definition
a) Licensing
b) Strategic Alliance
c) Exporting***
d) Joint Venture
Term
A global company must assess global risk. _________________ risk relates to politically induced action and policies initiated by a foreign government.
Definition
a) Political***
b) Legal
c) Societal
d) All of the above
Term
_________________ is an entry strategy that is relatively low risk, but can entail substantial cost and limited control.
Definition
a) Licensing
b) Strategic Alliance
c) Exporting***
d) Joint Venture
Term
_________________ is defined as a strategy of entering product
markets different from those in which a company is currently engaged.
Definition
a) Diversification***
Term
1. The ___________ holds that, as a result of national endowments, same countries or regions of the world are more efficient than others in producing political goods.
Definition
a. Theory of Corporate Advantage ***
Term
__________ explains why particular regions of the world attract certain global industries.
Definition
a. A Cluster analysis
b. Porter’s National Diamond ***
c. The theory of corporative advantage
d. Porter’s five forces.
Term
3. With regards to industry globalization drivers, ____________, are measures that define how customers’ behavior patterns evolve and converge.
Definition
a. Cost globalization driers
b. Competitive drivers
c. Race car drivers
d. Market drivers ***
Term
4. Ghemawat offers three generic approaches to global value creation. __________ strategies seek to increase revenues and market share by tailoring one or more components of a company’s business module to suit local requirements or preferences.
Definition
a. Adoption ***
b. Aggregation
c. Arbitrage
d. Tailoring
Term
5. Ghemawat offers 3 generic approaches to global value creation. __________ strategies focus on achieving economies of scale or scope by creating regional or global efficiencies.
Definition
a. Aggregation ***
Term
6. De Kluyver mentions five dimensions of globalization the objective of which is to make thoughtful decisions about which strategy elements can and should be globalized, which of the following is not one of those dimensions.
Definition
a. Market participation
b. Standardization
c. Activity concentration
d. All of the above ***
Term
7. With regards to global strategy formulation, __________ is a strategy that can be described as buying low in one market and selling high in another market.
Definition
a. Arbitrage ***
b. Appropriability
c. Cost leadership
d. Differentiation
Term
8. Which of the following is not mentioned by Kluyver as a nonmarket factor that can affect global corporate success?
Definition
a. Chance ***
b. Social
c. Political
d. Legal
Term
Corporate strategy is concerned with about which business the company operates, which includes actions that shape the __________ of businesses.
Definition
a. Corporate portfolio ***
b. Profit potential
c. Competitive advantage
d. Market share potential
Term
Corporate strategy is concerned with how to create value by _________ among multiple business units.
Definition
a. Exposing competitive gaps
b. Exploiting synergies ***
c. Creating linkages
d. All of the above
Term
Which of the following is not one of the five areas, mentioned by Lenge, that managers should concentrate on in developing a learning organization,
Definition
a. Encourage more systems thinking
b. Favoring a shared vision
c. Challenging existing mental models
d. All are important***
Term
An effective strategic planning process requires explicit analysis of possible synergies and trade-offs between and among the various components of the portfolio. According to the text, which of the following is not encompassed by corporate strategic planning process?
Definition
a. Creates specific linkages between businesses
b. Defines the boundaries of the corporate portfolios
c. Established group structures
d. All are important ***
Term
For the most companies, their core is defined in terms of their most valuable products, most important ________, and distinctive capabilities
Definition
a. Strategies
b. Channels ***
c. Employees
d. None of the above
Term
The _______________ to corporate strategy plots business based on the stage of an industry evolution and the strength of the company’s competitive position.
Definition
a. Value-based approach
b. Resource-based approach
c. McKinsey market-activated approach
d. Life cycle matrix approach ***
Term
The ___________ to corporate strategy focuses on maximizing shareholders value by treating each business unit to separate entities that are valued according to their cash flows.
Definition
a. Value-based approach. ***
b. Resource-based approach
c. McKinsey market-activated approach
d. Life cycle matrix approach
Term
One way to characterize corporate growth strategies is by using product-market choice as the primary creation which is not a product market criterion.
Definition
a. Concentrated growth
b. Vertical and horizontal integration
c. Diversification
d. Core product focus ***
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