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Hypercompetition Concepts Quiz

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Questions and Answers

Which of the following is a key element of hypercompetition?

Slow technological changes

Quickly changing markets (correct)

Stability and predictability in the market

Lack of competition between companies

What is the main driver of hypercompetition according to the text?

Flexible organizational structure

Increasing knowledge intensity (correct)

Risk-free strategy

Low attractive industry

What is the purpose of strategic management according to the text?

To achieve sustainable competitive advantage (correct)

To earn below average returns

To avoid taking risks

To maintain the status quo

Which of the following is NOT a key element of competition according to the text?

Stability Signup and view all the answers

What is the main consequence of hypercompetition according to the text?

Market decline Signup and view all the answers

What is the relationship between strategic flexibility and knowledge intensity according to the text?

Strategic flexibility is essential for coping with increasing knowledge intensity Signup and view all the answers

What is the Resource-based view (RBV) model?

A model that focuses on internal competencies and capabilities. Signup and view all the answers

What is the difference between a firm's vision and mission?

Vision is about what the firm wants to achieve, while mission is about the customers a firm wants to serve. Signup and view all the answers

What is required to make difficult managerial decisions according to the text?

Judgement is required. Signup and view all the answers