Question 1

List the five industry forces that determine overall levels of competition in an industry. Identify what happens to competition as these forces increase in strength.

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Question 2

Explain what is meant by a grand strategy. List and define the three types of grand strategies.

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Question 3

Explain the basics of portfolio strategy. Identify the best approach to diversification using this strategy. Be sure to explain your rationale for arguing that the specified approach to diversification is the best.

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Question 4

Differentiate between competitive inertia and strategic dissonance.

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Question 5

How do companies use situational analysis? What are the basic components of a situational analysis?

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Question 6

When videocassette recorders first became popular in the mid-1980s,a new form of "mom and pop" small business sprang up across the country: the video rental store. At the time,new videotapes of popular movies cost anywhere from $80 to $200. As the popularity of videocassette players grew,these small,independent video rental stores grew rapidly to meet the demand of consumers for inexpensive movie rentals. There was considerable competition between stores to be the first to have new movies available for rental. However,some stores disappointed customers by not having enough copies of new films when they were most in demand. Within about five to eight years of competition,most of these mom and pop video rental stores were ultimately put out of business by the large regional,and then national,chains,such as Blockbuster. Using the concept of sustainable competitive advantage along with the four conditions required to produce it,explain how such a transition from hundreds of independent mom and pop video stores to a few national chains could have taken place so quickly.

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Question 7

Identify Porter's five industry forces and their role in industry-level strategy. Identify which one among these five forces could be considered the central one,with its value impacted by the relative values of the four other forces.

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Question 8

Define attacks and responses in terms of competitive moves,and discuss under what conditions each are most likely.

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Question 9

Define direct competition and identify its constituent components. Then,identify under which conditions a local espresso coffee shop would compete against McDonald's and their McCafe initiative.

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Question 10

Explain how the concepts of competitive inertia and strategic dissonance are related to the strategy-making process. Explain the importance of gathering input regarding strategic plans from multiple levels of management.

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Question 11

Explain what is meant by direct competition. Identify the factors that determine it,and specify the basic strategic moves involved in such competition. If you were heading a company engaged in direct competition with other firms,explain the circumstances under which you would prefer to engage in direct competition in order to develop a sustained competitive advantage.

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Question 12

Briefly describe the BCG matrix and how it is used. Include in your description the types of recommendations that result from the use of the BCG matrix.

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Question 13

List the four positioning strategies and distinguish among them. Identify a company of your choosing and describe its positioning strategy.

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Quiz 5: Organizational Strategy