Walmart recently opened a store in Alsatia, Missouri. Several local small retailers have decided that choosing not to respond to Walmart’s competitive actions is a viable long-term option, because although the companies have high market commonality, they have little resource similarity. These small retailers are correct in their decision

The drawbacks to transferring competencies by moving key people into new management positions include all of the following EXCEPT:

Total Quality Management Systems (TQM) are rarely effective. 

All of the following are ways that a good or service can be differentiated EXCEPT:

The satellite dish at Faye’s weekend home has malfunctioned. When she calls to have the dish repaired, the service representative tells her that the dish is obsolete and that parts for it are no longer made. Faye must replace the old dish with a new dish. This is an example of lack of firm loyalty to a product in a fast-cycle market

Related Linked Diversification occurs when corporate and operational relatedness are both high

An unrelated diversification strategy can create value through two types of financial economies: (1) efficient internal capital allocations and (2) purchasing other firms, restructuring their assets, and selling them

The focused differentiation strategy differs from the differentiation strategy in that:

A firm can predict that a competitor whose products suffer from poor quality is likely to be less aggressive in its competitive actions until those quality problems are corrected

A flexible manufacturing system is: