WEEK 5 Quiz

What is the main focus of the "New Age of Competition"?

• Decrease in competition between firms

• Increase in collaboration between firms

• Dramatic increase in competitive actions and reactions

• Slower decision-making processes

What is one consequence of the accelerating rate of competition?

• Longer time to make decisions

• Decrease in the speed of new ideas

• Increase in the speed of data and information flow

• Fewer competitors in the market

Which of the following is an example of competition driven by globalization?

• Oracle Corporation hiring a detective agency to spy on Microsoft

• The rise of Chinese and South Korean manufacturers in the wireless handset industry

• Broadcasters facing competition from conventional rivals

• P&G spying on a rival in the hair care business

What is one way firms respond to intense competition?

• By reducing the number of new products introduced

• By engaging in corporate espionage

• By slowing down their decision-making processes

• By avoiding technological advancements

What is one effect of globalization on competition?

• Decrease in the number of competitors

• Increase in the complexity of organizational functions

• Slower response times between firms

• Reduced market share for new brands

Which of the following is NOT a result of globalization?

• New competitors entering markets

• Increased cooperation between firms

• Diverse sets of competitors in new markets

• New brand names reaching new customers

What is one significant change driven by technological advancements?

• Decrease in the speed of competitive response

• Increase in the cost of information

• Greater flexibility in production processes

• Reduced importance of knowledge in industries

Which industry is mentioned as being knowledge and technology-intensive?

• Agriculture

• Pharmaceuticals

• Retail

• Construction

What is one consequence of disruptive competition?

• Sustainable advantages become easier to maintain

• Competitive advantages are quickly eroded

• Firms can easily lock in success

• Competition decreases over time

According to the text, what happens to any competitive advantage in a highly competitive environment?

• It becomes sustainable

• It leads to cooperation between firms

• It is eventually eroded through competition

• It reduces the need for innovation