Hyper-Competition Implies

question 23

Multiple Choice

Hyper-competition implies:

• A)Rapid changes in industries and a general trend of concentration
• B)Strong competition and high rate of start-up failure due to rapid change experienced by high-tech industries
• C)No firm can ever achieve a competitive advantage
• D)Strong competition and rapid changes in firms' competitive advantages

Understand the role of mission statements and core values in guiding a company's strategic direction.

Describe the evaluation phase's actions, including comparison of results with plans and taking corrective actions.

Explain the concept of market share and how it's calculated.

Recognize the importance of creating customer value and how strategic directions are set for business portfolios.

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Definitions:

Thomas-Kilman Conflict Model

A framework that identifies five approaches individuals use to handle conflict: avoiding, accommodating, competing, compromising, and collaborating.

Compromiser

Someone who uses his or her skills to blend differences and form a workable alternative.

Basic Goals

Fundamental objectives or aims that an individual or organization strives to achieve.

Envious Person

An individual who feels discontent or covetousness with regard to another's advantages, success, or possessions.