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strategic management 5th

Questions and Answers of Strategic Management 5th

According to Robert Guy Matthews, “Fixed Costs Chafe at Steel Mills,” Wall Street Journal, June 10, 2009, stainless steel manufacturers are increasing prices even though the market demand curve
In the initial Cournot oligopoly equilibrium, both firms have constant marginal costs, m, and no fixed costs, and there is a barrier to entry. Use calculus to show what happens to the best-response
What is the duopoly Nash-Cournot equilibrium if the market demand function is Q = 1000 - 1000p and each firm’s marginal cost is 28¢ per unit? M
The European Union fined Sotheby’s auction house more than €20 million for operating (along with rival auction house Christie’s) a price-fixing cartel (see “The Art of Price Fixing” in
In an industry with inverse demand curve p = 100 - 2Q there are four firms, each of which has a constant marginal cost given by MC = 20. If the firms form a profit-maximizing cartel and agree to
Which market structure best describes (a) airplane manufacturing, (b) electricians in a small town, (c)farms that grow tomatoes, and (d) cable television in a city? Why?2. Cartels
Derive the mixed strategy equilibrium if both Intel and AMD act simultaneously in the game in the Challenge Solution. What is the expected profit of each firm? (Hint: see Solved Problems 13.1 and
In the game between Intel and AMD in the Challenge Solution, suppose that each firm earns a profit of 9 if both firms advertise. What is the new subgame perfect Nash equilibrium outcome? Show in a
A prisoners’ dilemma game is played for a fixed number of periods. The fully rational solution is for each player to defect in each period. However, in experiments with students, players often
Draw a game tree that represents the ultimatum game in which the proposer is a first mover who decides how much to offer a responder and the responder then decides to accept or reject the offer. The
At the end of performances of his Broadway play“Cyrano de Bergerac,” Kevin Kline, who starred as Cyrano, the cavalier poet with a huge nose, auctioned his prosthetic proboscis, which he and his
Suppose that Anna, Bill, and Cameron are the only people interested in the paintings of the Bucks County artist Walter Emerson Baum. His painting Sellers Mill is being auctioned by a second-price
In 2007, Italy announced that an Italian journalist who had been held hostage for 15 days by the Taliban in Afghanistan had been ransomed for five Taliban prisoners. Governments in many nations
From the ninth century bc until the proliferation of gunpowder in the fifteenth century ad, the ultimate weapon of mass destruction was the catapult(Wilford, John Noble, “How Catapults Married
Due to learning by doing (Chapter 7), the more that an incumbent firm produces in the first period, the lower its marginal cost in the second period. If a potential entrant expects the incumbent to
Before entry, the incumbent earns a monopoly profit of πm = $10 (million). If entry occurs, the incumbent and entrant each earn the duopoly profit, πd = $3. Suppose that the incumbent can induce
Suppose that an incumbent can commit to producing a large quantity of output before the potential entrant decides whether to enter. The incumbent chooses whether to commit to produce a small quantity
A monopoly manufacturing plant currently uses many workers to pack its product into boxes. It can replace these workers with an expensive set of robotic arms. Although the robotic arms raise the
Levi Strauss and Wrangler are planning new generation jeans and must decide on the colors for their products. The possible colors are white, black, and violet. The payoff to each firm depends on the
A thug wants the contents of a safe and is threatening the owner, the only person who knows the code, to open the safe. “I will kill you if you don’t open the safe, and let you live if you do.”
In Solved Problem 13.2, suppose that Mimi can move first. What are the equilibria, and why? Now repeat your analysis if Jeff can move first.2.6. Solve for the Stackelberg subgame-perfect Nash
A small tourist town has two Italian restaurants, Romano’s and Giardino’s. Normally both restaurants prosper with no advertising. Romano’s could take some of Giardino’s customers by running
If the airline game in Table 13.1 is repeated, what happens if the players know the game will last five periods? What happens if the game is played indefinitely but one or both firms care only about
In a repeated game, how does the outcome differ if firms know that the game will be (a) repeated indefinitely, (b) repeated a known, finite number of times, (c) repeated a finite number of times but
Two firms are planning to sell 10 or 20 units of their goods and face the following profit matrix:Firm 2 35 50 40 20 60 20 30 30 10 20 Firm 1 10 20 Exercisesa. What is the Nash equilibrium if both
Acura and Volvo offer warranties on their automobiles, where wA is the number of years of an Acura warranty and wV is the number of years of a Volvo warranty. The revenue for Firm i, i = A for Acura
The 100-meter Olympic gold medalist and the 200-meter Olympic gold medalist have agreed to a 150-meter duel. Before the race, each athlete decides whether to improve his performance by taking
Suppose that you and a friend play a “matching pennies” game in which each of you uncovers a penny. If both pennies show heads or both show tails, you keep both. If one shows heads and the other
In the novel and film The Princess Bride, the villain Vizzini kidnaps the princess. In an attempt to rescue her, the hero, Westley, challenges Vizzini to a battle of wits. Consider this variation on
Modify the payoff matrix in the game of chicken in Exercise 1.13 so that the payoff is -2 if neither driver swerves. How does the equilibrium change? M
Two guys (suffering from testosterone poisoning)engage in the game of chicken. They drive toward each other in the middle of a road. As they approach the impact point, each has the option of
Takashi Hashiyama, president of the Japanese electronics firm Maspro Denkoh Corporation, was torn between commissioning Christie’s or Sotheby’s to auction the company’s $20 million art
In the battle of the sexes game, the husband likes to go to the mountains on vacation, and the wife prefers the ocean, but they both prefer to take their vacations together.Husband–1–1–1 2–1
Suppose that Panasonic and Zenith are the only two firms that can produce a new type of 3D TV. The payoff matrix shows the firms’ profits (in millions of dollars):If the firms make their decisions
Suppose that Toyota and GM are considering entering a new market for electric automobiles and that their profits (in millions of dollars) from entering or staying out of the market are included a van
What is the mixed-strategy Nash equilibrium for the game in Exercise 1.7? M
Suppose that two firms face the following payoff matrix:Given these payoffs, Firm 2 wants to match Firm 1’s price, but Firm 1 does not want to match Firm 2’s price. What, if any, are the
The Wall Street Journal (Lippman, John, “The Producers: ‘The Terminator’ Is Back,” March 8, 2002, A1) reported that Warner Brothers agreed to pay$50 million for its U.S. distribution rights,
Lori employs Max. She wants him to work hard rather than to loaf. She considers offering him a bonus or not giving him one. All else the same, Max prefers to loaf. The payoff matrix is If they choose
Suppose Procter & Gamble (PG) and Johnson &Johnson (JNJ) are simultaneously considering new advertising campaigns. Each firm may choose a high, medium, or low level of advertising.What are each
Two firms must simultaneously decide which quality to manufacture. The profit matrix (in tens of thousands of euros) is Identify all the Nash equilibria in this game. (See Solved Problem 13.1.)
Show that advertising is a dominant strategy for both firms in both panels of Table 13.3. Explain why that set of strategies is a Nash equilibrium.
Show the payoff matrix and explain the reasoning in the prisoners’ dilemma example where Larry and Duncan, possible criminals, will get one year in prison if neither talks; if one talks, one goes
3. Discuss the importance and use of post-event evaluation by Sheffield Event Unit.
2. Evaluate the importance of an iterative event planning process and the role of continuous evaluation for the 2002 Commonwealth Games.
1. Analyse the importance of pre-event research prior to the decision to go ahead. Support your analysis with your own examples of what types of research can be undertaken?
- understand the roles of pre-event, continuous and interactive, and post-event evaluation
- understand the importance of event evaluation and feedback in the sports event industry
6. Select an event and provide a critical analysis of the functions its sponsors are providing and the extent to which they are fully integrating and achieving successful sponsorship fit.
5. Discuss the role and importance of research and evaluation in the achievement of successful sponsorships.
4. Why is rights exploitation a necessary activity for sponsors and desired by event managers?
3. By using your own researched examples, evaluate the importance of: - Researching and targeting the right sponsors and - Auditing event assets
2. How might the following events structure their sponsorship programmes? Evaluate all the options available: - A city school’s athletics championship finals - A national amateur basketball
1. What key market forces are currently affecting the achievement of successful sponsorships?
- understand the importance of the role that sponsorship plays in the sports event industry
4. Have you experienced innovative event communications that have successfully promoted either the Olympic Games in 2008 or 2012? Analyse why these were successful.
3. What were the key elements of Mark Cuban’s marketing mix for the Dallas Mavericks? Evaluate whether and how differential advantage was achieved?
2. Using the same event, develop a new plan in an attempt to improve communications to each of the event’s identified target markets.
1. Select an event and critically evaluate its communications activities from an IMC perspective.
5. Identify one example of innovative sports event marketing and analyse why it was successful.
4. Identify one event manager who, in your opinion, has played a critical marketing role at a specific event. Evaluate that role and the contribution made.
3. Select two similar events and evaluate how they position themselves in the market by identifying, comparing and contrasting the key features of their marketing mixes.
2. Select an event and identify the types of internal and external information that is critical for marketing planning.
1. Evaluate the importance of the marketing planning undertaken by the Carolina Hurricanes, identifying where possible the progression of the marketing planning process.
- understand the role of marketing planning and its importance for sports events
4. Select a sports event where sports facilities have been built and were intended as long-term legacies. Research, identify and evaluate the use of consultation with after-users during the planning
3. What recruitment criteria will you look to achieve?
2. Select a different sports event. Research, identify and evaluate the timing necessary for the recruitment of key personnel.
1. Select a sports event and draw up a list of categories and sub-categories that cover the extent of the short-term implementation planning required. What potential issues do you see in the planning
4. How will the evaluation be used to contribute to the success of the facility, future benefit, etc?
3. For whom is the evaluation?
2. Who is responsible for ensuring that the evaluation is implemented?
1. At what stages does evaluation need to be implemented and in what form so objectives can be measured?
- understand the importance of preparing for a successful event breakdown, handover, after-use and long-term event evaluation
3. What might each city have gained in the long term from their bid despite failing to win the right to host the 2016 Olympics?
2. What key elements would you consider as important considerations for each city in their preparation of their respective bids?
1. Compare and contrast their efforts in attempting to win local support for their respective bids.
6. Critically analyse the costs and benefits of implementing new technology for event revenue maximization.
5. Now consider Olympic models for revenue maximization and compare and contrast them with the approaches adopted by other events.
4. Suggest new ways in which the event might generate revenue in the future.
3. Identify the key practices exercised in generating revenue while highlighting specific examples.
2. Audit the event and identify the key areas available for revenue generation.
1. From a revenue earning perspective, analyse the strategic importance of financial planning at an early stage.
- understand further the importance of assessing financial feasibility in the planning process
3. Identify and analyse the key areas of financial risk, how successful the event was in this risk management and suggest ways in which the event could have been more successful.
2. Using the same event identify the key practices exercised in its financial management by identifying any cost controls and then.
1. Analyse the strategic importance of financial planning at an early stage.
5. Critically compare and contrast the New York 2012 planned after-use and contracted after-users approach to that of other cities of your choice.
4. Consider how Restormel Council will make a sustained success of the developments at Fistral Beach.
3. Identify the event management that is required to ensure that risks are minimal and benefits are optimal.
2. Research and analyse how one city of your choice has used sports event-led strategies to achieve wider municipal objectives.
1. Identify the main types of positive- and negative-event impact with the use of your own researched examples. Evaluate the extent and nature of the short- and long-term impacts involved.
- identify the various forms of impact that can be gained from sports events
- understand the importance of sports events as catalysts for the achievement of short-term benefits and long-term legacies
7. Analyse the role of evaluation and feedback in the planning process, both as an iterative and final stage tool. Discuss the issues with the evaluation of long-term objectives?
6. Long planning periods require flexible management. What issues if any do you see being important considerations for the success of longterm planning?
5. Using the same bid book, analyse whether after-use and after-users have been strategically planned. Visiting Lausanne and the Olympic Studies Centre if you get the opportunity will make this an
4. Attempt to review an Olympic bid book. Identify any SMART objectives in evidence.
3. Evaluate the arguments for and against the use of short- and longterm objectives for events.
2. The success of an event can be identified at any point during the event planning process. Identify how this can be effectively achieved by applying appropriate management techniques. Relate your

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