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Final Exam OIM 210: Questions & Accurate Solutions
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Final Exam OIM 210: Questions & Accurate Solutions
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Final Exam OIM 210: Questions & Accurate SolutionsFinancial performance that consistently outperforms industry averages
Right Ans - Sustainable competitive advantage
"How can you possible compete if someone can copy your technology and the
competition is only one click away?" Right Ans - Sustainable competitive
advantage
How can you achieve sustainable competitive advantage? Right Ans -
Operational effectiveness and strategic positioning
Performing the same tasks better than rivals perform them Right Ans -
Operational effectiveness
Performing different tasks than rivals, or the same tasks in a different way
Right Ans - Strategic positioning
Danger of operational effectiveness? Right Ans - because of the "sameness"
of the good because to heavy reliance on technology
A basic good that can be interchanged with nearly identical offerings by
others, the greater the likelihood that competition will be based on price
Right Ans - Commodity
Snapchat and Instagram Example Right Ans - Facebook users wanted to
buy Snapchat but Snapchat refused so Instagram copied their technology
(Instagram now has stories) and Instagram is killing snapchat
What can be learned from Tivo and Snapchat example? Right Ans - Cannot
base competitive advantage of off technology
Why are commodity goods dangerous? Right Ans - People just will base
their decision off of price
How can you get sustainable competitive advantage? Right Ans - Create
assets that are rare, non-substitutable, value, and perfectly imitable
, FedEx and UPS example Right Ans - UPS: came up with software that
eliminates left turns
FedEx: came up with a software that makes routes in account with traffic light
Making products more attractive to the customers Right Ans -
Differentiated goods
Differentiation is key to Right Ans - to get you over the average profit
Exists when savvy rivals watch a pioneer's efforts, learn from their successes
and missteps, then enter the market quickly with a comparable or supervisor
product at a lower cost before the first mover can dominate Right Ans -
Fast follower problem
Attempts to occupy more than one position, while failing to match the benefits
of a more efficient, singularly focused rival Right Ans - Straddling
Referred to inventory turnover, stock, turns, or stock turnover. It's the
number of times inventory is sold or used during a given period. A higher
figure means that a firm is selling products quickly Right Ans - Inventory
turns
Strategic thinking approach suggesting that if a firm is to maintain sustainable
competitive advantage, it must use their resources in ways other companies
don't Right Ans - Resource-based view of competitive advantage
Technology is not all of these things but it can create things that are
true or false Right Ans - True
The resources have to be Right Ans - valuable, rare, imperfectly imitable,
and non-substitutable
Do the characteristics of resource-based view of competitive advantage
relate? Right Ans - Yes, there is a snowball effect
Imitation-resistant value chain organization Right Ans - brand, scale, data,
network effects, distribution channels, patents; a way of doing business that
competitors struggle to replicate and that frequently involves technology in a
key enabling role
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