Illinois State University

MQM 385

Ch. 2

1)when a product or service becomes more valuable as more people use it.

2. The degree to which complete information is available is known as                                                        .

3. Telecom firms failed to anticipate the impact of a technology known as

                                      , which enabled existing fiber to carry more transmissions than ever before.

4. The resource­based view of competitive advantage states that for a firm to maintain sustainable competitive advantage it must control a set of exploitable resources that have four critical characteristics. What are these characteristics?

5. Which of the following statements about technology is true?
6. A firm’s financial performance that consistently outperforms its industry’s peers is known as              .

7. Moving first pays off when the time lead is used to create:

8. How does the Internet typically impact price transparency and information asymmetry?

9. Netscape, which once controlled more than 80 percent of the market share in Web browsers, lost its dominant position when customers migrated to Internet Explorer, Microsoft’s Web browser. Internet Explorer was easy to install and had no significant differences in terms of usability. This example serves to illustrate that:

10. A strong brand can be an exceptionally powerful resource for competitive advantage by lowering           , proxying                                                      and inspiring                  .