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Exam 7: Business Strategy: Innovation and Entrepreneurship

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Question 41

Multiple Choice

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To be successful and to survive the shakeout stage of the industry life cycle,a firm should

A) charge higher prices than its competitors.
B) focus on product innovation rather than process innovation.
C) gain economies of scale.
D) shift from price to non-price competition.

E) B) and C)
F) C) and D)

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Question 42

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While the personal computer industry is flooded and growing with laptops and tablets,Ivan recently bought a desktop,his first personal computer.He realized that a computer at home would be helpful for his children for their school projects,and he could use it to maintain the simple accounts of his plumbing business.Which of the following customer segments does Ivan best represent?

A) early adopters
B) category captains
C) laggards
D) early majority

E) None of the above
F) B) and C)

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Question 43

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Which of the following is one of the reasons that led to CNN,an innovator,losing its leadership position in the 24-hour cable news industry?

The market for 3-D televisions is in the introduction stage of the industry life cycle.What does this imply?

When firms innovate by leveraging existing technologies into new markets,they are said to be involved in

Which of the following scenarios would typically happen in a firm that uses open innovation?

A new product often has a high price when it is launched because of a

The key objective for firms during the growth phase is to

What is an invention?

A firm's resistance to changes in the status quo is referred to as

Why is the phase after the growth stage of the industry life cycle referred to as the shakeout stage?

The strategic objective of businesses during the shakeout phase of the industry life cycle will primarily be to

As a research scholar,Ricardo had built a helicam as part of his project.The helicam could capture aerial images.Realizing the potential use of this product in movie production and military and rescue operations,he started a new venture where he could customize these helicams to fit the specific needs of the buyers and sell them.Ricardo can be best described as a(n)

The demand for video recorders has drastically reduced,and there are only a few consumer electronics companies selling them at extremely low prices.Also,the current buyers of video recorders are mainly categorized under laggards.Which of the following stages of the industry life cycle is the video recorder industry in currently?

Globe Source Inc.is a consumer electronics company that follows an open innovation model.Which of the following can be concluded about this firm?

Which of the following statements is true of a disruptive innovation?

Which of the following statements is true of laggards?

Which of the following is a feature of the maturity stage of the industry life cycle?

In emerging economies,the LCD television industry is in that phase of the industry life cycle in which the previously increasing market demand becomes limited.The competitive intensity within the industry is high,and inefficient firms have begun to exit the industry.This has allowed only a few major companies to come out as cost-leaders and hold the shrinking market.Which of the following stages of the industry life cycle is the LCD television industry currently in?

Assume that the market for print book publishing has entered the maturity stage.Which of the following would most likely exist during this stage?