quiz 2 the origin of strategy

Question 1

What is the law of competitive exclusion?

Answer 1

no two species can coexist that make their living in the same way

Question 2

no two species can coexist that make their living in the same way. This is the law of ?

Answer 2

competitive exclusion

Question 3

what is the law of competitive exclusion modified for business?

Answer 3

Two enterprises that deal in the same goods and services, in the same territory, under the same conditions, in the same manner, and with the same clientele cant coexist equally

Question 4

market share is a meaningless number unless a competitor defines the market in terms of what?

Answer 4

the boundaries or in others words the differences that separate it from its rivals

Question 5

The essence of the contest lies in what 2 things?

Answer 5

1. extending the boundary of the advantage your differences give you 2. preventing competitors from doing the same

Question 6

what is the consequence of advances and retreats of the players in a particular business seeking to differentiate themselves and wrest competitive advantage?

Answer 6

the equilibrium of the market can be upset at any time

Question 7

strategy requires the ability to under stand what?

Answer 7

the complex web of natural competition

Question 8

strategy involves the search for a plan of action that will what?

Answer 8

create competitive advantage and compound it

Question 9

a competitor’s failure to react to a rival’s strategic move can do what to the relationship?

Answer 9

it can turn the existing competitive relationships upside down quickly

Question 10

how is strategic competition different from natural selection in regards to time?

Answer 10

it compresses time into desperately short periods