A home building company is bidding on new projects in the New River Valley subdivision. Since Covid-19, all the plumbers, except for MikeÕs Plumbing, have gone out of business. Has the bargaining power of suppliers increased or decreased?

ShoeFarm is a cheap shoe company. They have been experiencing stagnating growth both in profits and market share. While they can maintain a presence in the market, they struggle to gain market share from cheap shoe sellers. What might ShoeFarm most likely be experiencing?

You have been hired by Pepsi to evaluate the external environment of the alcohol industry. Pepsi is considering entering the alcohol production and distribution industry but are unsure if external factors are favorable for them to be profitable. They are solely focused on the existing rivalry among competitors. Based on PorterÕs Five Forces analysis, what is the most likely outcome of Pepsi focusing solely on the existing rivalry between competitors in the industry?

Southwest Airlines (SW) has a business strategy that is not common in the commercial airline industry. Southwest does not offer assigned seats, which is an easy way for competitors to charge different prices for different seating and potentially make more revenue per flight. SouthwestÕs reasoning for not allowing reserved seats is that it decreases boarding time. What strategy is Southwest employing in this practice and what impact does it have on their industry?

Randy owns his own sub shop in Charleston, SC. He has experienced great success over the years and his shop is known for their double stacker sandwich. Randy notices one day that a new local sandwich shop opening just a few blocks from his shop. This new shop is promoting their famous French bread footlong. Which of the following would help Randy BEST prepare for a situation such as the one above?

After years of growing your business in the fast-food industry, you are still faced with fierce competition. You want to get out of the industry but are held back by exit barriers. Which of these is an exit barrier that might be holding you back?

An important consideration within resource-based theory is the strategic value of a firmÕs resources. Which of the following resources would NOT be considered a strategic resource?

You are the CEO of a start-up tech company and you examine the industry to learn more about the dynamics that shape its profit potential. You conduct an analysis using PorterÕs Five Forces; which of the following is not a relevant factor to investigate, based on this model?

Over time, changes in an organization’s situation give rise to new opportunities and challenges. What strategy would an organization use to respond to these changes?

Speaking of cultural values, which of the following is false?