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When start-up entrepreneurs make claims like, “We will be the Uber of X, where X is any other category than ride hailing” or “We will be the Airbnb of Y, where Y is any other category than hospitality services” they are best illustrating which of the following cognitive biases?

A firm incurs $600 to manufacture a computer. In the market, customers are willing to pay a maximum of $800 for the computer priced at $700. The difference of $200 ($800 – $600) is the

Due to political instability in the country of Bajukistan, the strategic leaders at the headquarters of Maxim Industries have decided to close all production facilities in the country until stability returns. Maxim’s managers have formulated a________ strategy.

According to Michael Porter’s five forces model,________ must be viewed broadly to encompass other forces in an industry.

Bill’s Auto & Airplane Repair shop is able to generate a positive net income of $10,000 a week, which is about the same as the income of a close competitor. As a result, we can conclude that the two businesses also have a competitive parity in the industry.

PolyCon Inc. is a public stock company that provides natural gas for businesses. Although this company generates a large profit, management’s focus on reducing costs caused the maintenance budget to be trimmed. Its pipelines have at times leaked, which created significant environmental problems. As a result, the company’s value creation has suffered. This scenario supports strategy scholars’ warning that public companies

Grace founded First Plainfield Bank in 2003. Ten years later, the company went public. Despite Grace’s death in 2021, the company reported a 75 percent increase in revenue in 2022. Which of the following characteristics of a publicly traded company does this scenario best exemplify?

Roberta is interested in the concept of strategy and decides to create her own. As a result, Roberta says that her strategy is to focus on competitive benchmarking to achieve competitive advantage. Which is the best evaluation of Roberta’s statement?

Both Lorenzo’s Engines and Water King incur a cost of $5,000 to manufacture a boat engine. However, the economic value created by Water King is more than that created by Lorenzo’s Engines. What does this indicate?

Juan wants to open his own hot dog restaurant but doesn’t know anything about business. He needs help determining who his competition is, how he should craft his strategy to compete and how he’ll implement his strategy to achieve a competitive advantage. He’s hired you to help him get started. As a result, you will probably use which of the following?