Question 31 (1 point)

When applying the industrial organization (I/O) model, the key to success for a firm is

Question 31 options:

	selecting the most attractive industry in which to compete
	developing the firm's unique resources and capabilities
	proper utilization of the firm's human resources
	identifying the firm's key competitive advantage

Question 32 (1 point)

An attractive industry is one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, low threats from substitute products, and low rivalry among firms

Question 32 options:

	True
	False

Question 33 (1 point)

The objective of assessing the external environment is to determine the timing and significance of the effects of environmental changes and trends on the strategic management of the firm

Question 33 options:

	True
	False

Question 34 (1 point)

Any core competency has the potential to lose its value creating ability

Question 34 options:

	True
	False

Question 35 (1 point)

The likelihood of entry of new competitors is affected by ____ and ____.

Question 35 options:

	barriers to entry, expected retaliation of current industry organizations
	the profitability of the industry, the market share of its leading firm
	the demand for the product, the profitability of the competitors
	the power of existing suppliers, buyers

Question 36 (1 point)

The I/O (industrial organization) model assumes that a firm's unique resources and capabilities are its main source of above-average returns

Question 36 options:

	True
	False

Question 37 (1 point)

Suppliers are powerful when

Question 37 options:

	they are in a highly fragmented industry
	satisfactory substitutes are available
	they offer a credible threat of forward integration
	they sell a commodity product