Question 1

In essence, an organization needs to create value and a larger market, which is best undertaken by cooperating with customers and competitor.

Accepted Answer

While cooperating with customers is essential for understanding their needs and creating value, directly cooperating with competitors can be complex due to competition laws and the risk of reducing competitive advantage. Organizations often focus on innovation, customer service, and market analysis to create value and expand their market share.

Question 2

Which of the following industries is likely to follow the industry life cycle stages from introduction to decline?

Accepted Answer

Digital cameras are a technology-driven product with a relatively short product life cycle. As newer models with better features and capabilities are introduced, older models become obsolete and eventually decline. Therefore, digital cameras are likely to follow the industry life cycle stages from introduction to decline. The other industries listed (cars, travel, hairdressing) are more likely to have stable or slowly evolving product offerings and are less likely to experience rapid growth and decline.

Question 3

A _____________ can be defined as 'a group of firms within an industry following similar strategies'.

Accepted Answer

The answer of A _____________ can be defined as 'a...

Question 4

Factors that prevent the movement of organizations from one strategic group to another are known as _________________.

Accepted Answer

The answer of Factors that prevent the movement of organizations...

Question 5

Strategic group analysis is useful because: Please select all that apply.

Accepted Answer

The answer of Strategic group analysis is useful because: Please...

Question 6

By undertaking strategic group analysis, an organization can better understand its industry structure by mapping rivals following similar into ________ strategic groups.

Accepted Answer

The answer of By undertaking strategic group analysis, an organization...

Question 7

The term _________________ was introduced by D'Aveni (1994) to explain a relentless mode of competitive behaviour that aims to force competitors out of the industry.

Accepted Answer

The answer of The term _________________ was introduced by D'Aveni...

Question 8

Christensen's disruptive innovation describes a competitive pathway for small business to gain a foothold in the market and subsequently success.

Accepted Answer

Christensen's theory of disruptive innovation describes how smaller businesses can disrupt larger, established businesses by introducing a new, innovative product or service that meets the needs of a previously underserved market segment. This allows the smaller business to gain initial traction in the market and gradually grow a customer base, eventually overtaking the larger business in terms of market share and profitability.

Question 9

Larry Downs and Paul Nunes argue that the strategic model of disruptive innovation has a blind spot. Please select all that apply.

Accepted Answer

The answer of Larry Downs and Paul Nunes argue that...

Quiz 3: Industry Analysis