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Terms in this set (59)Change in industries is driven chiefly by the forces of technology, market demand and economics. True Massive and unpredictable changes occur in some industries, but less so in others. True Firms are continually trying to erode the competitive advantage of rivals, and to build and maintain their own competitive advantage. True The industry life cycle comprises 4 stages: introduction, growth, maturity, decline - so is indistinguishable from the product life cycle. False Two main factors drive industry evolution: demand growth and the production and diffusion of knowledge. True The introduction to maturity phases of the industry life cycle curve is characteristically U-shaped. False The industry life cycle consists of four stages: 1)
Introductory, 2) Growth, 3) Plateau, and 4) Rejuvenation. False The duration of the industry life cycle varies greatly from one industry to another. True Over time, industry life cycles become longer and longer. False A dominant design is one which is the most noticeable, or receives the most publicity. False The emergence of a dominant product design tends to coincide with a shift towards process innovation True A dominant design defines the look, functionality and production
method for a product and becomes accepted by the industry as a whole. True Technical standards have the most dramatic effect in markets exhibiting network effects because users not adopting the standard risk isolation. True Emphasis often shifts from product innovation to process innovation,
once a dominant design emerges. True Firms often imitate each other's strategies in order to gain legitimacy False Anderson and Tushman point out that all technological change is "competence destroying" False
Established firms often find it difficult to adapt to new technologies even though they are well aware of these technologies True The emphasis of organizational development is upon individual organizational units and bottom-up change True A firm is said to be "ambidextrous" when
it is able to exploit its existing technology successfully False Change in the industry environment faced by a firm is: c. Could be either answer a or b, depending on the industry and the prevailing conditions Change in an industry is the result of: b. Both external forces and the incumbents' competitive strategies The industry life cycle: d. All of the above The text claims that two factors are fundamental to the industry life cycle. One of these is: a. The production and diffusion of knowledge The decline phase of the industry life cycle is caused by: a. The emergence of a radically better substitute product, representing a new industry A new industry life cycle begins when: c. New knowledge manifests itself in the guise of a sufficiently radical product innovation A dominant design is: b. An emergent de facto industry standard broad product format A technical standard: d. Answers b and c The different stages of the
industry life cycles are characterised by: a. The evolution of the industry growth rate over time An industry life cycle: b. May never enter the decline phase in industries supplying basic essential products or services The PC industry clearly began in the 1970's because: D. All of the above As the industry life cycle progresses, overall strategies need to: b. Change in most major aspects Start-up firms in a new industry are also sometimes known as: b. de novo entrants Firms entering a new industry who were already established in a related industry are sometimes known as: a. de alio entrants The basis of entering a new industry at the Introduction phase is: a. Effective product innovation A "born global" company is one which: a. Interacts across the world from the outset - especially regarding selling Often, to succeed in the evolution from introduction to growth a firm: b. Needs to be closely associated with the dominant design which emerges The key challenges for firms entering the growth phase of the industry life cycle is d. All of the above To survive going into the maturity phase of the industry life cycle a firm needs to: c. Emphasise cost efficiency With the onset of the maturity stage, the number of firms in most industries: b. Tends to decrease significantly The typical cause of the
decline phase in an industry is: d. Any of the above Key features of the decline phase of the industry life cycle typically include: a. aggressive price competition and a declining number of competitors The determining factors of how calamitous the decline phase turns out to be are: a. The way capacity is dismantled as demand declines, and how dramatic is the decline in demand The key success factor in the Introduction phase of the
industry is: a. Effective product innovation i.e. getting new products launched and in front of customers The key success factor for leading firms in the
Growth phase is: d. Being able to scale up volume production and operations effectively and efficiently The key success factor for firms surviving in the Maturity
phase is: b. Maintaining cost efficiency that matches or exceeds that of competitors Which of the following elements function as limitations for organizational change? d. All of the above The fact that some firms such as BASF, Exxon, and General Electric have been leaders in their industries for almost a century, indicates that: a. Some firms have built the capability to adapt themselves to change in their environment time after time Firms that create new products or services are often not the ones that successfully
market them. The reason is that: a. The capabilities needed for invention are different and even conflict with those required for commercialization Disruptive technologies are: a. Innovations that threaten existing industry leaders and generally offer potentially superior performance at lower price than existing products The starting point for managing change is: a. For managers to recognize the sources of inertia or barriers to change Some firms create new organizational units instead of modifying the existing structure, because: a. Existing structures are often locked into existing routines A firm can simultaneously pursue dual strategies: b. It can, so long as it maintains separate organizations to pursue each strategy Radical top-down organizational change: d. All of the above Dynamic
capabilities: a. Are the capacity to learn new capabilities Scenario analysis is usually used to deal with: d. All of the above The value of the scenario analysis lies in: b. The process of managers being involved in the analysis A succession of management gurus including Tom Peters to Gary Hamel have argued that the key to achieving competitive advantage is: c. initiating change and achieving internal "revolution" The
statement that organizational capabilities are path dependent means that: b. a company's capabilities today are the result of its history The building for developing new capabilities include: d. all of the above Sets with similar termsMarketing 370 Ch 12104 terms sdsu123 ch22 pt.260 terms scottlarson96 Marketing Chapter 922 terms bhenderer Marketing Chapter 932 terms mike_peng Sets found in the same folderChapter 160 terms WHLN chapter 770 terms WHLN Chapter 660 terms WHLN Chapter 260 terms WHLN Other sets by this creatorJuz 10 part 1 hard words and root letters133 terms WHLN Chapter 859 terms WHLN Chapter 460 terms WHLN Chapter 359 terms WHLN Recommended textbook solutionsFundamentals of Financial Management, Concise Edition10th EditionEugene F. Brigham, Joel Houston 777 solutions
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Mathematics with Business Applications5th EditionMcGraw-Hill Education 3,755 solutions Other Quizlet setsHUG AP FINAL II & V18 terms AWESOMEMERIN1 ECON313 Chapter 424 terms maheennabeel Ch. 24-25,28-29,30-31 (Part 2)60 terms tjameson17 Chapter 22 & 23: Paper Study Guide & Sample Test16 terms Erien_luceroPLUS Related questionsQUESTION Public trust in a business serves as a measurement that corresponds to the: 3 answers QUESTION refers to the expertise, competencies, and skills of established retailers in a nation, and their ability to sell and support the products of international businesses 4 answers QUESTION political and social activists and nongovernmental organizations 14 answers QUESTION Carlos is asked about a product that he has never seen or used before. In this scenario, Carlos is likely to 14 answers What is the correct order of the industry life cycle?The four phases of the industry life cycle are the introduction, growth, maturity, and decline phases. The industry life cycle ends with the decline phase, a period when the industry or business is unable to sustain growth.
What are the 5 stages of industry life cycle?An industry life cycle typically consists of five stages — startup, growth, shakeout, maturity, and decline. These stages can last for different amounts of time – some can be months, some can be years.
What are the stages of industry life cycle analysis?There are four stages in an industry life cycle: expansion, peak, contraction, trough. An analyst will determine where a company sits in the cycle and use this information to project future financial performance and estimate forward valuations (e.g., forward price-earnings ratios).
Which stage is the first stage of industry life cycle?The distinct stages of an industry life cycle are: introduction, growth, maturity, and decline. Sales typically begin slowly at the introduction phase, then take off rapidly during the growth phase. After leveling out at maturity, sales then begin a gradual decline.
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What is the correct order of the industry life cycle quizlet?
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