week 5 quiz

Question 1

the strategy clock is a tool to examine dynamically different approaches to mix strategies. which two of the following are its distinctive characteristics

a - a focus on prices for customers

b - contrasts cost leadership and differentiation

c - avoid non-competitive choices

d - a focus on business model

Answer 1

• a focus on prices for customers

- contrasts cost leadership and differentiation

Question 2

What is a business model?

Answer 2

a firms plan for how it comperes and creates value for customers to sustain itself

Question 3

which of the following strategies refers to an integrated set of actions designed to produce or deliver goods or services that serve the needs of a particular competitive segment

Answer 3

focus strategy

Question 4

which of the following statements is not true for multi-sided platforms

a.
A platform must have distinctive features in competition with other platforms to attract participants and be sufficiently large to attract diverse sides.

b.
It is impossible for a platform participant to use more than one platform at the same time.

c.
Deciding what sides to include and how many is crucial for generating value for diverse sides and growth in network effects.

d.
Multi-sided platforms bring together two or more distinct, but interdependent groups of participants to create value on a platform.

Answer 4

it is impossible for a platform user to use more than one platform at the same time

Question 5

there are many small niche organisations within the IT sector. Which one of Micheal porters generic strategies are they likely to be pursuing?

Answer 5

differentiation focus

Question 6

H&M, a swedish multinational clothing company follows which generic strategy for mist of its products

Answer 6

hybrid

Question 7

which among the following is not one of the key drivers of differentiation for firms to consider when they pursue a differentiation strategy
a - Product and service attributes

b - Customer relationships

c - Complements

d - Economies of learning

Answer 7

economics of learning

Question 8

within the context of the strategy clock, a hybrid strategy combines which of the following strategic elements

a - emergent and intended elements

b - differentiation and cost controls

c - a broad market with focus characteristics

d - positioning and resource based approaches

Answer 8

differentiation and cost controls

Question 9

in Micheal Porter’s generic strategy framework, a focus strategy involves ….

Answer 9

selling to a narrow customer segment

Question 10

according to Micheal Porter, if an organisation does not follow either a cost leadership strategy or a differentiation strategy,it will be …..

Answer 10

stuck in the middle