Miscellaneous Quiz / Strategy FHS (Copy 1)

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Can you name the Strategy FHS?

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Strtegic relatedness means NPV of combined firm is greater than sum of NPVs of separate firms.
After US DoJ announced its mission to block the takeover of (1) by (2), (1)'s stock price rose and (2)'s fell
5 Forces assumes industry structure is constant but actually it is endogenous and changes. e.g. changes in taxi driving industry
(2013) Dynamic capabilities are distinct from ordinary capabilities because they are path dependent, idiosyncratic and cannot merely be purchased.
(2000) DCs could be interpreted as the ordinary capability of being able to learn how to learn
_'s diversification strategy might not be best measured in terms of profitability but in user base growth (rocketed ahead of __)
2 types of firm structure
_ exploited exogenous change to become a pioneer of a new location of the pay day loan industry
A 1% increase in market share is only associated with a 0.1% increase in ROI. Focus should therefore be on other factors such as prod/service quality
Related acquisition does not generate abnormal returns to shareholders of bidder
The variety in intra-industry performance is demonstrated by __ __ and _ who were top 10 profitability in 2015 despite a bad year for the industry
__ have kept net profit margins between 3 and 3.5% for the last 20 years as revenues have grown. Extremely persistent profitability.
cost minimisation is not competitive in the long run as it is not innovative. It will make a firm bad at responding to competitors.
(1985) M form might solve some of the resource allocation and agency problems with diversification
_ _ is arguably an extension of RBV with similar critiques
(1974) successful diversification requires shared core competences
_ pioneered a better tire but had no system of complimentary assets (e.g. trained mechanics) to create profit
_-_ has made related diversifications into Innocent smoothies and Chi Ltd. a Nigerian dairy drink company.
(2002) Only a minority of firms achieve superior performance (ROA statistically significantly above average) and it rarely persits
(2011) Alliances are sometimes not pursued because firms are unsure how to divide value created.
(1999) R&D alliances barely ever develop into an acquisition.
(2011) Two types of acquisitions: 1. Those that intend to boost the current position 2. Those that look to take the company in a new direction
Constant improvement in operational efficiency is necessary but not sufficient for SCA
(2004) Causes of hypercompetitivity: globalisation, improved substitutes, deregulation, lower entry barriers
(1990) Small firms innovate radically, large firms broadly. Medium firms stuck in the middle
(1988) 3 sources of FMA: _ leadership, _ of assets, buyer _ costs
(1989) Valuable assets are non-tradable and therefore must be built
3 conditions to imitate: _ of what to imitate, _ to do it and _ to do it
(1991) 3 sources of network externalities: network-based products, _ products, _ _ costs
_ pioneered Diet Cola but the profits were seized by the _ _ Company
The creative destruction of innovation makes analysis of static industry structure fairly redundant
__ acquired ___. Resounding success and clear synergies
Firms that were very profitable (ROA>15%) in 2003 had an 83% chance of being very profitable in 2013. Previous odds about 50%
__ ___ killed by the substitute MP3 Player
(1971) Not enough effort is made to learn from failed companies.
'Naive Realism' - we are biased to think are own views are developed from reason whereas everyone else is being irrational or PC etc.
(2004) Hypercompetitivity in the manufacturing industry. SCA lasts fleetingly. Only soln: keep finding SCAs.
(2000) Little evidence that high investment in innovation is profitable
(2012) Late enter when there are _ standards to compare products and low costs of _
(2000) Long term competitive advantage lies in resource configurations, not dynamic capabilities.
(2012) FMA makes a brand the psychological standard (e.g. Coca-Cola)
If firm performance is inherently complex and multivariate then research must investigate a variety of factors that might be behind it.
(2000) Dynamic capabilities are best conceptualised as tools that manipulate resource configurations
(1997) what matters is an organisation's capacity to sense opportunities, seize them and transform the resource base.
Famously failed to profit from copier innovation
(2011) 70-90% failure rate of acquisitons
(2007) A DYNAMIC CAPABILITY is 'the capacity of an organisation to purposefully create, extend, or modify its resource base'
__ __ asks his employees at Google to dedicate some of their time to radical experimentation to ensure that they stay ahead of the game
Patents such as Apple's _ to _ can be designed around
__ __ acquired ___. Failure of this merger blamed on clash of cultures
(1997) Dynamic capabilities are used in 'rapidly changing environments'
(1997) Since dynamic capabilities must be built, there is a need in organisations for managers who build.
(1986,_) 3 factors affecting how innovation profits are distributed: regimes of _, _ _ paradigm and _ assets
(2012) Pioneer when there are network effects, the expected category life is short and product value is subjective
___ funded the development of rival ____'s OS. Co-opetition
(2000) Little evidence that high investment in innovation pays
(1993) Even innovation that doesn't work can be profitable because it imparts STATUS on the innovating firm.
(1988) Innovative late entry can be the winning strategy (e.g. Kindle)
___ in a normal year was as profitable as ___ in an excellent year (low oil price). No one's going to build competing rail lines.

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