Which of the following is LEAST likely to be a low-cost leadership competitive advantage

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Which one of the following statements would be considered false about the concept of competitive advantage? A) A prominent source of competitive advantage can be found in the business's low cost structure. B) Businesses become successful because they possess some advantage relative to their competitors. C) Businesses that create competitive advantage from differentiation usually experience above-average profitability within their industry. D) Businesses that engage other than a low-cost strategy usually experience below-average profitability. 2
The business strategy decided upon by the Ripper Up Remodeling Corporation is one that engages in value chain activities, which are achieved at a cost that is well below its competitors. In this way, the competitors can require less money for their services than competitors can. It is safe to say this corporation is engaging a __________. A) differentiation strategy B) strategic alliance strategy C) retrenchment strategy D) low-cost strategy 3
Major Lionel Minor began his own new home construction company when he retired from the Air Force five years ago. The company has rapidly grown to be very large and has reported earnings of over $40 million in the past year. Retired Major Minor attributes this high rate of success to his ability to service his customers at a low price. His organization has to meet several requirements in order to continually support and sustain this low-cost leadership status. Which of the following would not be one of these requirements? A) Tight cost control B) Avoidance of economies of scale C) Incentives based on meeting quantitative targets D) Benchmarking orientation 4
A business strategy that seeks to build competitive advantage with its product or service by having it be unique from other available competitive products would be classed as __________ strategy. A) differentiation B) market focus C) low-cost leadership D) speed-based 5
All of the following would be considered organizational skills and resources that foster a differentiation strategy except which one? A) Strong marketing abilities B) Products or services designed for ease of manufacture or delivery C) Corporate reputation for quality or technical leadership D) Creative talent and flair 6
Sustainable activities that provide all of the following opportunities relative to key industry forces except _________ should become the basis for differentiation aspects within the business's competitive strategy. A) less price sensitivity of buyers B) rivalry is reduced C) technological changes increase learning and investments D) brand loyalty is difficulty for newcomers to overcome 7
The Tick-Tock Clock Corporation is able to successfully meet the needs of its customers more rapidly than any of its competitors can. It is most likely this corporation is engaging in which one of the following business strategies? A) Differentiation B) Speed-based C) Vertical integration D) Market focus 8
Through its use of speed-based strategy, the Tick-Tock Clock Corporation is most likely to gain its competitive advantage by being proficient in all but which one of the following activities? A) Product development cycles B) Information sharing and technology C) Customer responsiveness D) Product cost leadership 9
The extent to which a business concentrates on a narrowly defined market is best referred to as ___________. A) market focus B) low-cost leadership C) strategic alliance D) retrenchment 10
All of the following would be considered emerging industries of the last decade except _______. A) online services B) solar heating C) airline services D) fiber optics 11
All of the following except which one would be considered a characteristic of the markets in emerging industries? A) There are few entry barriers. B) There are low initial costs that escalate as time goes by. C) There is need for high-risk capital to be invested. D) There may be an inability to obtain sufficient raw materials. 12
For success in the emerging industry setting, business strategies require all but which one of these features? A) The ability to shape the industry's structure B) The ability to rapidly improve product quality C) The early acquisition of a core group of loyal customers D) The ability to be self-sufficient 13
Which one of the following would not be considered a necessary requirement of business strategies for growing industries? A) The ability to rapidly improve product quality B) The ability to differentiate the firm's products C) The ability to establish strong brand recognition D) Strong product design skills 14
________ strategies are those used by firms competing in markets where the growth rate of that market from year to year has reached or is close to zero. A) Growth industry B) Emerging industry C) Mature industry D) Declining industry 15
At which one of the following stages of evolution would the industry firms most likely sell increasingly to experienced, repeat buyers, face competition that is more oriented to cost and service, and competition for market share intensifies? A) Declining industry stage B) Mature industry stage C) Growth industry stage D) Emerging industry stage 16
Strategic elements of successful firms in maturing industries often include all of the following except which one? A) Vertical integration B) International expansion C) Careful buyer selection D) Emphasis on process innovation 17
Firms in a declining industry should choose strategies that emphasize all but which one of the following? A) New investments B) Production efficiency C) Distribution efficiency D) Product innovation 18
A _______ industry is one in which no firm has a significant market share and can strongly influence industry outcomes. A) declining B) fragmented C) maturing D) global 19
Of the following, which one is least likely to be considered as a generic global competitive strategy? A) Protected niche B) Global focus C) National focus D) National niche 20
The Times-R-Rough Corporation has decided to cut back on its product lines and reduce the size of its operations because it can no longer support commitments needed to sustain it. This business is most likely attempting to engage in _________. A) divestiture B) conglomerate diversification C) retrenchment D) liquidation

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