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2. A film company and a music recording company may choose to combine, believing that the result will be more effective than the sum of the two component parts. What term is used for the benefits?

  • Synergy
  • Consolidation
  • Integeration
  • Diversification

3. Which of the following is least likely to be a contextual factor that might swing the balance between moving first to moving second?

  • Complementary assets
  • Capacity for profit capture
  • Buyer switching costs
  • Fast-moving arenas

4. Strategic choices require an understanding of:

  • The key drivers of change
  • The organisational strengths and weaknesses.
  • The underlying bases for future strategy at business-unit and corporate levels; and the options for developing strategy in terms of directions and methods of development.
  • The business environment, the competition and the strategic capability of the organisation.

5. In recent decades, technologies in the aerospace industry have become more difficult to master and the products have become more complex. Which of the following best describes how a competitive force has changed as a result in this industry?

  • The threat of entry has reduced.
  • Tangible, intellectual capital
  • Intangible, financial resources
  • The threat of substitutes has increased
  • Supplier power has decreased.
  • Buyer power has increased
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