Quiz Chapter 5

Strategy and Competitive Advantage

1. Know Porter’s Five Generic Strategies

2. Toyota introducing the Lexus is using which of the above strategies to compete against Mercedes and BMW.

3. The Ritz Carlton uses which strategy above to compete.

4. _________ __________ is when a firm extends it competitive scope backward or forward within the same industry.

5. Using surprise hit and run attacks against competitors is referred to as _____________

6. Southwest Airlines is said to compete using which of the above competitive strategies.

7. Read Illustration 23 and be able to recall Motel 6 and Ritz Carlton strategies and how the accomplish such.

8.  ____________ ________________-  withdrawing from certain stages/activities in the value chain and relying on outsourcing.

9. This company describes itself as a “network of organizations”.

10. What are the four types of firms that may make good targets for offensive attacks.

11.  Review illustration 25.  How did Clear Channel Communications become a global leader in the media industry?  And who have they acquired or merged with?