(Test Bank) Crafting & Executing Strategy The Quest for Competitive Advantage Concepts and Cases

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Crafting & Executing Strategy The Quest for Competitive Advantage Concepts and Cases 21st Edition By Arthur A. Thompson Jr -Test Bank To purchase this Complete Test Bank with Answers Click the link Below https://quizsolutions.site/product/crafting-executing-strategy-the-quest-for-competitive-advantage- concepts-and-cases-21st-edition-by-arthur-a-thompson-jr-test-bank/ If face any problem or Further information contact us At Exambanks123@gmail.com Description INSTANT DOWNLOAD WITH ANSWERS Crafting & Executing Strategy The Quest for Competitive Advantage Concepts and Cases 21st Edition By Arthur A. Thompson Jr -Test Bank Chapter 06 Strengthening a Company’s Competitive Position: Strategic Moves, Timing, and Scope of Operations Answer Key Multiple Choice Questions 1 .Which of the following is NOT among the principal offensive strategy options that a company can employ? A .leapfrogging competitors by being the first adopter of next-generation technologies or being first to market with next-generation products B.offering an equally good or better product at a lower price C.blocking the avenues open to challengers D.attacking the competitive weakness of rivals E .capturing unoccupied or less-contested territory by maneuvering around The principal offensive strategy options include: (1) offering an equally good or better product at a lower price; (2) leapfrogging competitors by being the first to market with next-generation technology or products; (3) pursuing continuous product innovation to draw sales and market share away from less innovative rivals; (4) pursuing disruptive product innovations to create new markets; (5) adopting and improving on the good ideas of other companies; (6) using hit-and-run or guerrilla warfare tactics to grab sales and market share from complacent or distracted rivals; and (7) launching a preemptive strike to capture a rare opportunity or secure an industry’s limited resources. Blocking the avenues open to challengers is considered a defensive strategy. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 2 .A hit-and-run or guerrilla warfare type offensive strategy A .involves random offensive attacks used by a market leader to steal customers away from unsuspecting smaller rivals. B.involves undertaking surprise moves to secure an advantageous position in a fast-growing and profitable market segment; usually the guerrilla signals rivals that it will use deep price cuts to defend its newly won position. C.works best if the guerrilla is the industry’s low-cost leader. D.involves pitting a small company’s own competitive strengths head-on against the strengths of much larger rivals. E.involves unexpected attacks (usually by a small-to-medium size competitor) to grab sales and market share from complacent or distracted rivals. Guerrilla offensives are surprising moves that are particularly well suited to small-medium sized challengers that have neither the resources nor the market visibility to mount a full-fledged attack on industry leaders. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 3 .Sometimes it makes sense for a company to go on the offensive to improve its market position and business performance. The best offensives tend to incorporate the following EXCEPT A .focusing relentlessly on building a competitive advantage. B.applying resources where rivals are least able to defend themselves. C.using a strategic offensive to allow the company to leverage its weaknesses to strengthen operating vulnerabilities. D.employing the elements of surprise as opposed to doing what rivals expect and are prepared for. E .displaying a strong bias for swift, decisive, and overwhelming actions to overpower rivals. The best offensives tend to incorporate several principles: (1) focusing relentlessly on building competitive advantage and then striving to convert it into a sustainable advantage, (2) applying resources where rivals are least able to defend themselves, (3) employing the element of surprise as opposed to doing what rivals expect and are prepared for, and (4) displaying a capacity for swift and decisive actions to overwhelm rivals. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 4 .Once a company has decided to employ a particular generic competitive strategy, then it must make the following additional strategic choices, EXCEPT whether to A .focus on building competitive advantages. B.employ the element of surprise as opposed to doing what rivals expect and are prepared for. C.display a strong bias for swift, decisive, and overwhelming actions to overpower rivals. D.create and deploy company resources to cause rivals to defend themselves. E.pay special attention to buyer segments that a rival is already serving. The best offensives tend to incorporate several principles: (1) focusing relentlessly on building competitive advantage and then striving to convert it into a sustainable advantage, (2) applying resources where rivals are least able to defend themselves, (3) employing the element of surprise as opposed to doing what rivals expect and are prepared for, and (4) displaying a capacity for swift and decisive actions to overwhelm rivals. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 5 .Which of the following is NOT a strategic choice that a company must make to complement and supplement its choice of one of the five generic competitive strategies? A .whether to focus on building competitive advantages B.whether to employ the element of surprise as opposed to doing what rivals expect and are prepared for C.whether to employ a market share leadership strategy D.whether to display a strong bias for swift, decisive, and overwhelming actions to overpower E .whether to create and deploy company resources to cause rivals to defend themselves The best offensives tend to incorporate several principles: (1) focusing relentlessly on building competitive advantage and then striving to convert it into a sustainable advantage, (2) applying resources where rivals are least able to defend themselves, (3) employing the element of surprise as opposed to doing what rivals expect and are prepared for, and (4) displaying a capacity for swift and decisive actions to overwhelm rivals. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 6 .Strategic offensives should, as a general rule, be based on A .exploiting a company’s strongest competitive assets—its most valuable resources and capabilities. B.instigating and executing the chosen strategy efficiently and effectively. C.scoping and scaling an organization’s internal and external situation. D.molding an organization’s character and identity. E .satisfying the buyer’s needs that the company seeks to meet. Strategic offensives should, as a general rule, be grounded in a company’s strategic assets and employ a company’s strengths to attack rivals in the competitive areas where they are weakest. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 7 .The principal offensive strategy options include all of the following EXCEPT A .offering an equally good or better product at a lower price. B.using hit-and-run or guerrilla warfare tactics to grab sales and market share from complacent or distracted rivals. C.launching a preemptive strike to secure an advantageous position that rivals are prevented or discouraged from duplicating. D.pursuing continuous product innovation to draw sales and market share away from less innovative rivals. E.initiating a market threat and counterattack simultaneously to effect a distraction. The principal offensive strategy options include: (1) offering an equally good or better product at a lower price; (2) leapfrogging competitors by being first to market with next-generation products; (3) pursuing continuous product innovation to draw sales and market share away from less innovative rivals; (4) pursuing disruptive product innovations to create new markets; (5) adopting and improving on the good ideas of other companies; (6) using hit-and-run or guerrilla warfare tactics to grab market share from complacent or distracted rivals; and (7) launching a preemptive strike to secure an industry’s limited resources or capture a rare opportunity. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 8 .Which of the following is NOT a principal offensive strategy option? A .leapfrogging competitors by being first to market with next-generation products B.using hit-and-run or guerrilla warfare tactics to grab sales and market share C.launching a preemptive strike to secure an advantageous position that rivals are prevented or discouraged from duplicating D.pursuing continuous product innovation to draw sales and market share away from rivals E.blocking the avenues open to challengers The principal offensive strategy options include: (1) offering an equally good or better product at a lower price; (2) leapfrogging competitors by being first to market with next-generation products; (3) pursuing continuous product innovation to draw sales and market share away from less innovative rivals; (4) pursuing disruptive product innovations to create new markets; (5) adopting and improving on the good ideas of other companies; (6) using hit-and-run or guerrilla warfare tactics to grab market share from complacent or distracted rivals; and (7) launching a preemptive strike to secure an industry’s limited resources or capture a rare opportunity. Blocking the avenues open to challengers is a defensive strategy. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 9 .An offensive to yield good results can be short if A .buyers respond immediately (to a dramatic cost-based price cut or imaginative ad campaign). B.competition creates an appealing new product. C.the technology needs debugging. D.new production capacity needs to be installed. E .consumer acceptance of an innovative product takes time. How long it takes for an offensive to yield good results varies with the competitive circumstances. It can be short if buyers respond immediately (as can occur with a dramatic cost-based price cut, an imaginative ad campaign, or a disruptive innovation). AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 0 .Which of the following rivals make the best targets for an offensive attack? A .firms with weaknesses in areas where the challenger is strong B.companies that are financially strong and possess favorable competitive market positioning C.large national firms with vast capabilities and intermittent trivial resource deficiencies D.strong and financially secure market leaders E .small local and regional firms with unrestrained capabilities Runner-up firms are an especially attractive target when a challenger’s resources and capabilities are well suited to exploiting their weaknesses. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 1 .Which one of the following is NOT a good type of rival for an offensive- minded company to target? A .market leaders that are vulnerable B.runner-up firms with weaknesses in areas where the offensive-minded challenger is strong C.small local and regional companies with limited capabilities D.struggling enterprises that are on the verge of going under E.other offensive-minded companies with a sizable war chest of cash and marketable securities The following are the best targets for offensive attacks: (1) market leaders that are vulnerable; (2) runner-up firms that possess weaknesses in areas where the challenger is strong; (3) struggling enterprises that are on the verge of going under; and (4) small local and regional firms that possess limited capabilities and resources. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 2 .Launching a preemptive strike type of offensive strategy entails A .sapping the rival’s financial strength and competitive position. B.weakening the rival’s resolve. C.moving first to secure advantageous competitive assets that rivals can’t readily match or duplicate. D.threatening the rival’s overall survival in the market. E .using hit-and-run tactics to grab sales and market share away from complacent or distracted rivals. By definition, a preemptive strike by a challenger means moving first to secure advantageous competitive assets that rivals cannot readily match or duplicate. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Competitive Environment 1 3 .A blue-ocean strategy A .is an offensive strike employed by a market leader that is directed at pilfering customers away from unsuspecting rivals to boost profitability. B.involves an unexpected (out-of-the-blue) preemptive strike to secure an advantageous position in a fast-growing market segment. C.works best when a company is the industry’s low-cost leader. D.involves abandoning efforts to beat out competitors in existing markets and instead invent a new industry or new market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand. E .involves the use of highly creative, never-used-before strategic moves to attack the competitive weaknesses of rivals. A blue-ocean strategy seeks to gain a dramatic and durable competitive advantage by abandoning efforts to beat out competitors in existing markets and, instead, inventing a new market segment that renders existing competitors irrelevant and allows a company to create and capture altogether new demand. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 4 .A blue-ocean type of offensive strategy A .is an offensive attack used by a market leader to steal customers away from unsuspecting smaller rivals. B.involves a preemptive strike to secure an advantageous position in a fast-growing market segment. C.works best when a company is the industry’s low-cost leader. D.offers growth in revenues and profits by discovering or inventing a new industry or distinct market segment that renders rivals largely irrelevant and allows a company to create and capture altogether new demand. Einvolves the use of highly creative, never-used-before strategic moves to attack the competitive weaknesses of rivals.. A blue-ocean strategy seeks to gain a dramatic and durable competitive advantage by inventing a new industry or distinctive market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand. AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 5 .Which of the following is NOT an example of a company that uses blue- ocean market strategy? A .Gilt Groupe in the luxury flash sale industry B.Starbucks in the coffee shop industry C.FedEx in the overnight package delivery industry D.Cirque de Soleil in the live entertainment industry E.Walmart’s logistics and distribution in the retail industry A notable example of such blue-ocean market space is the luxury flash sale industry that Gilt Groupe created and now dominates. Other companies that have created blue-ocean market spaces include Starbucks, FedEx, and Cirque du Soleil in live entertainment. AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 6 .Which of the following is NOT an example of a defensive move to protect a company’s market position and restrict a challenger’s options for initiating a competitive attack? A .challenging struggling runner-up firms that are on the verge of going under B.granting volume discounts or better financing terms to dealers/distributors and providing discount coupons to buyers to help discourage them from experimenting with other suppliers/brands C.signaling challengers that retaliation is likely in the event they launch an attack D.publicly committing the company to a policy of matching a competitors’ terms or prices E .maintaining a war chest of cash and marketable securities In a competitive market, all firms are subject to offensive challenges from rivals. The purposes of defensive strategies are to lower the risk of being attacked, weaken the impact of any attack that occurs, and induce challengers to aim their efforts at other rivals. Challenging struggling runner-up firms that are on the verge of going under is instead an example of an offensive strategy. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Competitive Environment 1 7 .Which of the following is NOT a purpose of a defensive strategy? A .to increase the risk of having to defend an attack B.to weaken the impact of any attack that occurs C.to pressure challengers to aim their efforts at other rivals D.to help protect a competitive advantage E .to decrease the risk of being attacked In a competitive market, all firms are subject to offensive challenges from rivals. The purposes of defensive strategies are to lower the risk of being attacked, weaken the impact of any attack that occurs, and induce challengers to aim their efforts at other rivals. While defensive strategies usually don’t enhance a firm’s competitive advantage, they can definitely help fortify the firm’s competitive position, protect its most valuable resources and capabilities from imitation, and defend whatever competitive advantage it might have. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 8 .Which of the following ways are employed by defending companies to fend off a competitive attack? A .Remain steadfast to current product features and models to ensure resources are not diverted toward unproductive efforts. B.Exclude volume discounts or better financing terms from the strategic response in order to maintain current profitability levels. C.Gain product line exclusivity to force competitors to use other distributors. D.Trim the length of warranties to save money. E .Stay away from competitor’s clients since their loyalty will not allow them to switch. The most frequently employed approach to defending a company’s present position involves actions that restrict a challenger’s options for initiating a competitive attack. There are any number of obstacles that can be put in the path of would-be challengers. A defender can introduce new features, add new models, or broaden its product line to close off gaps and vacant niches to opportunity-seeking challengers. It can thwart rivals’ efforts to attack with a lower price by maintaining its own lineup of economy-priced options. It can discourage buyers from trying competitors’ brands by lengthening warranties, making early announcements about impending new products or price changes, offering free training and support services, or providing coupons and sample giveaways to buyers most prone to experiment. It can induce potential buyers to reconsider switching. It can challenge the quality or safety of rivals’ products. Finally, a defender can grant volume discounts or better financing terms to dealers and distributors to discourage them from experimenting with other suppliers, or it can convince them to handle its product line exclusively and force competitors to use other distribution outlets. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 1 9 .What is the goal of signaling a challenger that strong retaliation is likely in the event of an attack? A .to alleviate their fears by committing to reduce the costs of value chain activities B.to cause the challenger to begin the attack instead of waiting C.to dissuade challengers from attacking or diverting them into using less threatening options D.to create collaborative relationships with challengers E .to insulate other firms from adverse impacts resulting from the challenge The goal of signaling challengers that strong retaliation is likely in the event of an attack is either to dissuade challengers from attacking at all or to divert them to less threatening options. Either goal can be achieved by letting challengers know the battle will cost more than it is worth. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 2 0 .Which of the following signals would NOT warn challengers that strong retaliation is likely? A .Publicly announcing management’s commitment to maintain market share B.Publicly committing to a company policy of matching competitors’ terms or pricing C.Maintaining a war chest of cash and marketable securities D.Making a strong counter-response to the moves of weak competitors E.Announcing strong quarterly earnings potential to financial analysts Signals to would-be challengers can be given by: publicly announcing management’s commitment to maintaining the firm’s present market share; publicly committing the company to a policy of matching competitors’ terms or prices; maintaining a war chest of cash and marketable securities; making an occasional strong counter response to the moves of weak competitors to enhance the firm’s image as a tough defender. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Difficulty: 2 Medium Learning Objective: 06-01 Whether and when to pursue offensive or defensive strategic moves to improve a company’s market position. Topic: Strategy 2 1 .Being first to initiate a particular strategic move can have a high payoff in all of the following EXCEPT when A .pioneering helps build up a firm’s image and reputation and creates strong brand loyalty. B.buyers remain strongly loyal to pioneering firms because of incentives and switching costs barriers. C.there is a steep learning curve and when learning can be kept proprietary. D.moving first can constitute a preemptive strike, making imitation extra hard or unlikely. E.market uncertainties make it difficult to ascertain what will eventually succeed. There are five conditions in which first-mover advantages are most likely to arise: 1. When pioneering helps build a firm’s reputation and creates strong brand loyalty; 2. When a first mover’s customers will thereafter face significant switching costs; 3. When property rights protections thwart rapid imitation of the initial move; 4. When an early lead enables the first mover to move down the learning curve ahead of rivals; and 5. When a first mover can set the technical standard for the industry. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 06-02 When being a first mover or a fast follower or a late mover is most advantageous. Topic: Strategy 2 2 .In which of the following instances is being a first-mover NOT particularly advantageous? A .when moving first with a preemptive strike makes imitation difficult or unlikely B.when first-time buyers remain strongly loyal to pioneering firms in making repeat purchases C.when early commitments to new technologies, types of components, or emerging distribution channels produce an absolute cost advantage over rivals D.when markets are slow to accept the innovative product offering of a first-mover, and fast followers possess sufficient resources and marketing muscle to overtake a first- mover E .when being a pioneer helps build a firm’s image and reputation with buyers There are five such conditions in which first-mover advantages are most likely to arise: 1. When pioneering helps build a firm’s reputation and creates strong brand loyalty; 2. When a first mover’s customers will thereafter face significant switching costs; 3. When property rights protections thwart rapid imitation of the initial move; 4. When an early lead enables the first mover to move down the learning curve ahead of rivals; and 5. When a first mover can set the technical standard for the industry. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 06-02 When being a first mover or a fast follower or a late mover is most advantageous. Topic: Strategy 2 3 .First-mover disadvantages (or late-mover advantages) rarely ever arise when A .the costs of pioneering are much higher than being a follower and only negligible learning/experience curve benefits accrue to the pioneer. B.rapid market evolution gives fast followers an opening to leapfrog the pioneer with next-generation products of their own. C.the pioneer’s products are somewhat primitive and do not live up to buyer expectations, allowing clever followers to win disenchanted buyers with better-performing products. D.the marketplace is skeptical about the benefits of a new technology or product being pioneered by a first-mover. E.the market response is strong and the pioneer gains a monopoly position that enables it to recover its investment. In some instances there are advantages to being an adept follower rather than a first mover. Late-mover advantages (or first-mover disadvantages) arise in four instances: when the costs of pioneering are high relative to the benefits accrued and imitative followers can achieve similar benefits with far lower costs; when an innovator’s products are somewhat primitive and do not live up to buyer expectations, thus allowing a follower with better-performing products to win disenchanted buyers away from the leader; when rapid market evolution (due to fast-paced changes in either technology or buyer needs) gives second movers the opening to leapfrog a first mover’s products with more attractive next-version products; when market uncertainties make it difficult to ascertain what will eventually succeed, allowing late movers to wait until these needs are clarified; and, when customer loyalty to the pioneer is low and a first mover’s skills, know-how, and actions are easily copied or even surpassed. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 06-02 When being a first mover or a fast follower or a late mover is most advantageous. Topic: Strategy 2 4 .In which of the following cases are late-mover advantages (or first-mover disadvantages) NOT likely to arise? A .when the costs of pioneering are much higher than being a follower and only negligible learning/experience benefits accrue to the pioneer B.when the marketplace is skeptical about the benefits of a new technology or product being pioneered by a first-mover C.when the pioneer’s products are somewhat primitive and are easily bested by late movers D.when opportunities exist for a blue-ocean strategy to invent a new industry or distinctive market segment that creates altogether new demand E .when technological change is rapid and fast-following rivals find it easy to leapfrog the pioneer with next-generation products of their own In some instances there are advantages to being an adept follower rather than a first mover. Late-mover advantages (or first-mover disadvantages) arise in four instances: when the costs of pioneering are high relative to the benefits accrued and imitative followers can achieve similar benefits with far lower costs; when an innovator’s products are somewhat primitive and do not live up to buyer expectations, thus allowing a follower with better-performing products to win disenchanted buyers away from the leader; when rapid market evolution (due to fast-paced changes in either technology or buyer needs) gives second movers the opening to leapfrog a first mover’s products with more attractive next-version products; when market uncertainties make it difficult to ascertain what will eventually succeed, allowing late movers to wait until these needs are clarified; and, when customer loyalty to the pioneer is low and a first mover’s skills, know-how, and actions are easily copied or even surpassed. AACSB: Analytical Thinking