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Question
A board of directors typically consists of
A) 10 to 15 individuals drawn from a firm's top management group and from individuals outside the firm.
B) 10 to 15 individuals drawn exclusively from a firm's top management group.
C) 10 to 15 individuals drawn exclusively from individuals outside the firm.
D) 10 to 15 individuals drawn from all stakeholder groups associated with the firm.
Answer
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Related questions
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The ________ consists of broad trends in the context in which a firm operates that can have an impact on a firm's strategic choices.
A) micro-environment
B) general environment
C) task environment
D) internal environment
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All divestments are caused by industry decline.
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Firms pursuing a harvest strategy in a declining industry do not expect to remain in the industry over the long term.
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A fragmented industry is an industry that has experienced an absolute decline in unit sales over a sustained period of time.
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If the owner of a jewelry store who normally purchased diamonds from a diamond brokerage firm were to open its own diamond brokerage firm, this would be an example of forward vertical integration.
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The threat of buyers is greater if the products or services that are being sold to buyers are standard and not differentiated than if the products sold to buyers are highly differentiated.
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A firm's supplier poses a greater threat if the supplier's industry has a large number of firms, none of which dominate the supplying industry, than if the supplier's industry is dominated by a small number of firms.
Q:
________ measures of competitive advantage compare a firm's level of return to its cost of capital instead of to the average level of return in the industry.
A) Economic
B) Accounting
C) Strategic
D) Sustainable
Q:
A competitive advantage that lasts a very short period of time is known as a ________ competitive advantage.
A) temporary
B) sustained
C) transient
D) perpetual
Q:
The difference between the perceived benefits gained by a customer who purchases a firm's products or services and the full economic costs of these products or services is known as
A) accounting value.
B) comparative value.
C) economic value.
D) sustainable value.
Q:
When a firm is able to create more economic value than rival firms it is said to have a(n)
A) comparative advantage.
B) competitive advantage.
C) strategic choice.
D) economic advantage.
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________ occurs when a firm adopts organizational policies and practices that are consistent with its strategy.
A) Strategy formulation
B) Organizational change
C) Strategy implementation
D) Strategic control
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Firms with strategies that are unlikely to be a source of competitive advantage will rarely provide the same career opportunities as firms with strategies that do generate such advantages.
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The cost of equity is equal to the interest a firm must pay its debt holders in order to induce those debt holders to lend money to the firm.
Q:
Identify the conditions under which a strategic alliance can be rare and discuss the role that complementary resources can play in the rarity of strategic alliances.
Q:
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Q:
________ collusion exists when firms coordinate their production and pricing decisions not by directly communicating with each other but by exchanging signals with other firms about their intent to cooperate.
A) Explicit
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Q:
When one firm makes more transaction-specific investments in a strategic alliance than partner firms make, that firm may be subject to a form of cheating called ________ that occurs when a firm that has not made significant transaction-specific investments demands returns from an alliance that are higher than what the partners agreed to when they created the alliance.
A) adverse selection
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C) moral hazard
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Q:
Strategic alliances are particularly valuable in facilitating market entry and exit when the value of market entry or exit is
A) high.
B) low.
C) moderate.
D) uncertain.
Q:
A firm's ability to learn is known as its
A) competitive position.
B) competitive advantage.
C) distinctive competence.
D) absorptive capacity.
Q:
Strategic alliances can create economic value through helping firms improve their current operations by
A) facilitating the development of technology standards.
B) facilitating tacit collusion.
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Q:
Sometimes the value of cheating in a joint venture is sufficiently large that a firm cheats even though doing so hurts the joint venture and forecloses future opportunities.
Q:
In general, contracts are sufficient to resolve all the problems associated with cheating in an alliance.
Q:
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Q:
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In general, firms will prefer to go it alone rather than enter into a strategic alliance when the level of transaction-specific investment required to complete an exchange is low.
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Research on international joint ventures suggests that the existence of transaction-specific investments in their relationships makes these agreements relatively immune to holdup problems.
Q:
In an alliance a holdup occurs when a firm that has not made significant transaction-specific investments demands returns from an alliance that are higher than what the partners agreed to when they created the alliance.