Busmhr 4490 Exam 2 Questions And Answers Part One 2024/2025 Already Graded A+

Network effects {Ans: The positive effect (externality) that one user of a product or service has on the value of that product for other users}Technology enthusiast {Ans: Introductory phase of the industry life cycle (2.5%)}Franchising {Ans: The right to use the franchisor's trademark and business processes to offer goods and services that carry the franchisor's brand name}Joint venture {Ans: A stand alone organization created and jointly owned by 2 or more parent companies}Shakeout stage {Ans: Competitive intensity increases and weaker firms are forced out Firms begin to cut prices and offer more services Consolidations and acquisitions occur, weaker firms exit through bankruptcy Winners often stake out a strong position as cost leaders Few may implement a blue ocean strategy, combining differentiation and low cost}Architectural innovation {Ans: A new product in which known components, based on existing technologies, are reconfigured in a novel way to attack new markets}Internal transaction costs {Ans: Aka admin costs Costs related to organizing the economic exchange within a hierarchy}Minimum efficient scale {Ans: Output range needed to bring down the cost per unit as much as possible, allowing a firm to stake out the lowest-cost position that is achievable