Jeopardy! Exam Review Questions Chapters 4 - 6

1. ____________ is an asset, competency, skill or knowledge that is controlled and leveraged by a corporation.

2. ____________ is a growth strategy where two firms are joined to create an emerging entity combining the best qualities of each by emphasizing synergies.

3. A ____________ strategy is a generic business level strategy aimed at earning above-average returns by offering unique, specialized product and/or service offerings.

4. For 4 points total, briefly explain, in order, the resource qualities expressed in the VIRO framework.

5. For 4 points total, list, in order, the 5 primary functions in the corporate value chain.

6. For 4 points total, list the 4 main secondary functions in the corporate value chain.

7. For 4 points total, list the 4 segments of the Product Life Cycle curve.

8.Briefly explain the difference between a core competency and a distinctive competency.

9. The __________ framework compares internal strengths and weaknesses to external opportunities and threats to develop strategies for the four resulting combinations.

10. Firms that employ low-cost and differentiated strategies but gain advantages in either are described as being “________”.

11. Firms employing a ________ diversification strategy tend to move into unrelated industries and are concerned with issues of cash flow & risk reduction,.

12. Research shows that generally, ______ diversification strategies tend to be more successful than ________ strategies.

13. For 4 points, list the 4 Marketing Mix variables.

14. For 4 points, list the 4 Boston Consulting Group matrix segments.

15. ______ is the last name of the Strategy researcher that developed the 5 Forces and Generic Competitive Strategy frameworks.

16. ______ describes knowledge that is not easily communicated and transferred because it is rooted in employee experience and firm culture.

17. ______ is a partnership of two or more firms or SBUs to achieve significant, mutually beneficial objectives.

18. A ______ business in one where there is significant fit between parent and SBU activities, and low misfit between critical success factors and parenting characteristics.

19. A ______ strategy is one where that initiating firm competes directly in every market segment and product category.

20. A ______ advantage is one where a firm seeks to gain a market leadership position by developing a reputation as an innovator and pioneer in new product development and introduction.

21. ______ is a collection of beliefs, expectations, and values learned and shared by firm members and transferred from one generation of employees to another.

22. _________ is the rate at which a firm’s underlying resources and capabilities can be duplicated by others.

23. _________ examines the extent of differences between mature and new technologies, and occurs when the capability base of an old technology is not applicable to the new technology.

24. _________ is the active cooperation of firms within an industry to reduce outputs and raise prices in order to circumvent the forces of supply and demand.

25. _________ level strategy focuses on a firm’s general attitude towards growth and allocation of resources to its SBUs.

26. _________ level strategy focuses on a firm’s management of its product and service offerings, as well as matching these offerings to market wants and needs.

27. In the BCG Matrix, _________ are SBUs with large market shares, but operating in low growth industries.