Chapter 10

Question 1

Monopolistic Competition

Answer 1

Large number of small firms with similar products

Question 2

Oligopoly

Answer 2

Dominated by a few large companies

Question 3

Value Chain Analysis

Answer 3

1. Service Delivery
2. Support Activities

Question 4

Values

Answer 4

Expressions of ethics which guide employee actions

Question 5

What is the foundation for strategic direction?

Answer 5

Mission

Question 6

External Evaluation

Answer 6

Customers

Competition

Other factors

Question 7

SWOT

Answer 7

Strength
Weaknesses
Opportunities
Threats

Question 8

Strategic Business Unit

Answer 8

A profit center which focuses on product offering and market segment

Question 9

A source of competitive advantage

Answer 9

Internal Resources

Question 10

Resources

Answer 10

Critically important to ensure successful strategy implementation

Question 11

The Five Forces Framework

Answer 11

Rivalry

Substitution

Buyer Power (Consumers)

Supplier Power

Competitors (New Entrants)

Question 12

Contingent Ethics

Answer 12

Values that shift with circumstances

Question 13

Visión

Answer 13

Statement about what organization wants to become

Question 14

Strategies develop according to:

Answer 14

Environmental pressures

Question 15

Pace of change is dictated by 3 uncertainties

Answer 15

1. Political changes
2. Technology innovation (revolution)
3. Changing customer demand

Question 16

Perfect competition

Answer 16

Characterized by many buyers and sellers, few barriers to entry

Question 17

Consolidated monopolies

Answer 17

Fully consolidated markets with only one firm