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?

<p>Stability (D)</p> Signup and view all the answers

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

<p>Market decline (D)</p> Signup and view all the answers

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

<p>Strategic flexibility is essential for coping with increasing knowledge intensity (B)</p> Signup and view all the answers

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

<p>A model that focuses on internal competencies and capabilities. (A)</p> Signup and view all the answers

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

<p>Vision is about what the firm wants to achieve, while mission is about the customers a firm wants to serve. (D)</p> Signup and view all the answers

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

<p>Judgement is required. (A)</p> Signup and view all the answers

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