Question 1

Michael E.Porter,a leading theorist of competitive strategy,developed a five forces model to explain competition in an industry.List these forces and describe the impact of the threat of new entrants.

Accepted Answer

The answer of Michael E.Porter,a leading theorist of competitive strategy,developed...

Question 2

What are demand conditions? Why is the nature of home demand conditions for the firm's or industry's products and services important?

Accepted Answer

The answer of What are demand conditions? Why is the...

Question 3

What is hypercompetition? Briefly discuss conditions under which hypercompetition takes place.

Accepted Answer

The answer of What is hypercompetition? Briefly discuss conditions under...

Question 4

In addition to the five forces model of industry competition,Michael Porter has developed a framework of so-called generic business strategies.Explain these generic strategies,describing their aims and application.

Accepted Answer

The answer of In addition to the five forces model...

Question 5

How do chance events play a role in shaping the competitive environment?

Accepted Answer

The answer of How do chance events play a role...

Question 6

There have been considerable changes that have taken effect since Porter presented his theories.One such impact is due to the tremendous technological advancement.In light of these changes,examine what potential impact technology has on some of his theories.

Accepted Answer

The answer of There have been considerable changes that have...

Question 7

Describe how competitive advantage can be created via strategic intent,giving examples of successful approaches of competitors.

Accepted Answer

The answer of Describe how competitive advantage can be created...

Question 8

The nature of firm strategy,structure,and rivalry is the final determinant of a nation's diamond.What does this statement refer to? How does domestic rivalry differ from foreign rivalry? Please explain in detail.

Accepted Answer

The answer of The nature of firm strategy,structure,and rivalry is...

Question 9

Explain the reasons behind the failure of the visionary strategy of Volkswagen from becoming the number one automaker in the world.

Accepted Answer

The answer of Explain the reasons behind the failure of...

Question 10

What does the phrase factor condition refer to? How can these factors be inherited or created? Describe Porter's categories of factor conditions.

Accepted Answer

The answer of What does the phrase factor condition refer...

Quiz 16: Strategic Elements of Competitive Advantage