Because of its focus on innovation and quality manufacturing, total quality management is not useful for firms that follow a cost leadership strategy

To create economies of scope, tangible resources often must be shared. Less tangible resources can also be shared

Stage in the family life cycle is a __________ factor.

Firms develop a competitive advantage when they are able to develop corporate-level cooperative strategies and manage them in ways that are valuable, rare, imperfectly imitable, and nonsubstitutable

Walmart’s aggressive pricing strategy is a strategic action that plays a major role in how it competes

As the threat of corporate failure increases due to relatedness between a firm’s business units, the firm may decide to:

Large firms with significant slack resources (i.e., are able to launch a greater number of competitive actions) but that remain flexible and act like small firms (i.e., are able to launch a variety of actions) will be more successful against rivals

During a financial downturn, a firm may consider diversification as a value-neutral defensive strategy to protect itself against what?

Airbnb matches people wanting to rent out their properties with individuals seeking properties to rent. What type of business model does Airbnb use?

Mighty Mike’s, a manufacturer of power tools for the home hobbyist, has seen its main competitor, MyTools, introduce a line of power tools that are smaller sized, lighter weight, and suitable for women and older hobbyists who have weaker hands than the typical male workshop hobbyist. Mighty Mike’s is waiting to see whether MyTools’ new line is a success. Mighty Mike’s could be classified as a second mover