Knowledge Check

1.Firms that enjoy higher profit margins are using which of Michael Porter’s generic strategies?

2.Which of the following companies is a good example of a low-cost leader?

3.Firms that follow this type of generic strategy can sometimes have difficulties succeeding without compromising the key attributes of a company’s products or services.

4.Which of the following is a generic strategy developed by Michael Porter?

5.Striving to create and market unique products for varied customer groups is called

6.Which of the following is a value discipline?

7.Companies that pursue this value discipline strive to produce a continuous stream of state-of-the-art products and services.

8.Which of the grand strategies is typically lowest in risk?

9.The grand strategy in which the firm directs its resources to the profitable growth of a single product, in a single market and with a single technology is termed

10.What is it called when current products are marketed, often with only cosmetic changes, to customers in related market areas?

11.The acquisition of one or more businesses operating at the same stage of the production-marketing chain is an example of

12.If a textile producer acquires a shirt manufacturer, this is called

13.For the ABC Company, the Alpha business is in a dominant market share position in a mature market. As per the BCG matrix, Alpha is a

14.Which matrix makes fine distinctions among business portfolio positions with the inclusion of high/medium/low axes?

15.Which matrix involves a framework that can help ensure that businesses’ strategies are consistent with strategies appropriate to their strategic environment?

16.Which of the following represents an operating opportunity to build value or sharing?

17.The most compelling reason companies should diversify can be found in situations when

18.The core competency must represent a major source of value to be a basis for competitive advantage. Furthermore, the core competency

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