Question 1.Competitors in an industry that produce more or less the same product have bargaining power over their buyers.
True
False
Question 2.What is the essence of strategic thinking?
Thinking about strategic planning
Finding alternative ways of competing and providing customer value
Playing devil's advocate to what the company is currently doing
All of the above
Question 3.Strategic thinking is best done during the annual strategic-planning process.
True
False
Question 4.A situational monopoly is one of the following:
An instant monopoly
Something no other competitor has
An ownable space for a useful period of time
An opportunity to charge more than competitors
None of the above
Question 5.Which building block is not among the nine that comprise the business-model canvas?
Industry segments
Revenue streams
Customer relationships
Key partnerships
Cost structure
Question 6.A strategy canvas can depict the relative performance across key competitive factors for both an industry and a particular company or group of companies.
True
False
Question 7.An entrepreneurial mindset is:
Seeing things from a customer's perspective
Noticing a problem that exists
Being able to state the problem clearly
Finding opportunities
All of the above
Question 8.Finding a "blue ocean" or "situational monopoly" is a legitimate part of strategic thinking.
True
False
Question 9.A value curve that is higher than the industry's or uses issues unfamiliar to the industry is a sign of a blue ocean.
True
False
Question 10.Markets and industries are different.
True
False