Podcast
Questions and Answers
What is the relationship between market commonality and resource similarity?
What is the relationship between market commonality and resource similarity?
- They have a direct relationship (correct)
- They have an inverse relationship
- They are unrelated
- They are dependent on the size of the firm
How does market commonality and resource similarity influence a firm's perception of its competitors?
How does market commonality and resource similarity influence a firm's perception of its competitors?
- They decrease a firm's competitiveness
- They increase a firm's understanding of competitor actions (correct)
- They have no impact on a firm's competitive strategy
- They result in isolation from competitors
What is the significance of first-mover benefits in competitive actions?
What is the significance of first-mover benefits in competitive actions?
- First movers face reduced competition
- First movers always face financial losses
- First movers do not have any competitive advantage
- First movers gain loyal customers initially (correct)
How do market commonality and resource similarity impact a firm's ability to predict competitor actions?
How do market commonality and resource similarity impact a firm's ability to predict competitor actions?
What role do awareness, motivation, and ability play in a firm's competitive behavior according to the text?
What role do awareness, motivation, and ability play in a firm's competitive behavior according to the text?
Why might not all firms be able to benefit from being first movers?
Why might not all firms be able to benefit from being first movers?
What is the primary purpose of studying competitive rivalry?
What is the primary purpose of studying competitive rivalry?
What distinguishes strategic actions from tactical actions?
What distinguishes strategic actions from tactical actions?
How are competitive responses different from competitive actions?
How are competitive responses different from competitive actions?
Which of the following best describes a tactical response?
Which of the following best describes a tactical response?
What is the typical first step a firm takes to anticipate its competitors' actions?
What is the typical first step a firm takes to anticipate its competitors' actions?
In the context of an airline company, what would changing prices in a particular market be considered?
In the context of an airline company, what would changing prices in a particular market be considered?
What does market commonality refer to?
What does market commonality refer to?
Which factor is crucial for a firm to recognize before taking any competitive action?
Which factor is crucial for a firm to recognize before taking any competitive action?
What does resource similarity encompass?
What does resource similarity encompass?
How does motivation influence competitive actions?
How does motivation influence competitive actions?
Why is resource dissimilarity significant in competitive actions?
Why is resource dissimilarity significant in competitive actions?
What is the relationship between firms' resources and competitive actions?
What is the relationship between firms' resources and competitive actions?
Flashcards are hidden until you start studying
