The COVID-19 pandemic, the BP oil spill, and the 9/11 terrorist attacks are examples of

To reduce the amount of time it takes to apply packaging to its finished products, North Star Foods is implementing new equipment at its production plants. By doing this, North Star is addressing a________ in the value chain analysis.

Dynamic capabilities are especially important for surviving and competing in markets that

Toy sales have declined by 10 percent each year, forcing many retailers to exit the industry. To eliminate its remaining competition, Terrific Toys sells all of its product at a loss and relies on its significant cash holdings to cover costs until its competition is forced to exit the industry. Is this an example of a successful strategy? Why or why not?

Firms with greater market share might be in a position to reap economies of scale, which are

A firm incurs $100 to manufacture an office table. It fixes the market price of the table as $250 and discounts the price to $200. However, the maximum a person is willing to pay for it is $180. What is the amount of total perceived consumer benefits in this scenario?

What is the importance of the dissonance gap when a firm encounters a strategic inflection point?

A firm is said to gain a competitive advantage when it accomplishes which of the following?

Online retailer eBuy had been drastically losing market share to its competitors, so management hired a consulting firm to help figure out the reasons why sales were dipping. The consultants found that the company primarily lost its competitive advantage because of its poor customer service, which included slow response times to customer inquiries and unclear return policies. These ineffective policies and procedures led to many disgruntled customers and a steady migration to more customer-friendly retailers. eBuy can best solve its problem by working on its

During market testing, Rembrandt Cosmetics realized that the cosmetics industry was dominated by multiple, well-established brands. These brands mostly sold their products in exclusive outlets and department stores. Rembrandt Cosmetics management realized that a new entrant would require a different business model to be successful. Thus, Rembrandt Cosmetics started selling its products through direct marketing. In this scenario, Rembrandt Cosmetics accomplished substitution primarily through