MGMT 4513 FedTalks 5 || with 100% Accurate Solutions.
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Course
MGMT 4513
Institution
MGMT 4513
External analysis correct answers looks at 5 forces and how external environment affects the industry
By studying the *external* environment, correct answers firms identify what they *might* choose to do
By studying the *internal* environment, correct answers firms determined what they *can* ...
MGMT 4513 FedTalks 5 || with 100% Accurate Solutions.
External analysis correct answers looks at 5 forces and how external environment affects the
industry
By studying the *external* environment, correct answers firms identify what they *might*
choose to do
By studying the *internal* environment, correct answers firms determined what they *can* do.
this examines unique resources, capabilities, and competencies (sustainable competitive
advantage)
Components of Internal Analysis: correct answers 1. Resources (tangible and intanglible)
2. Capabilities / Combo of resources
3. Core Competencies
4. Competitive Advantage
5. Strategic Competitiveness
Four Criteria of Sustainable Advantages correct answers 1. Valuable
2. Rare
3. Costly to imitate
4. Non-substitutable
Resources correct answers a firm's *assets*, including *people* and the *value* of its *brand
name*
Resources represent *inputs* into firm's *production* process, such as: correct answers 1. capital
equipment
2. brand names
3. skills of employees
4. financial resources
5. talented managers
Types of Resources correct answers 1. Tangible
2. Intangible
Tangible Resources correct answers relatively easy to identify, and include physical and
financial assets used to create value for customers
Organizational Resources correct answers 1. Effective strategic planning processes
2. excellent evaluation and control system
Intangible Resources correct answers difficult for competitors (and the firm itself) to account for
or imitate, typically embedded in unique routines and practices that have evolved over time.
Human Resources correct answers 1. Experience and capabilities of employees
2. Trust
3. Managerial skills
4. Firm-specific practices and procedures
Innovation and Creativity Resources correct answers 1. Technical and scientific skills
2. innovation capabilities
Types of Intangible Resources correct answers 1. Human
2. Innovation and Creativity
3. Reputation
Capabilities correct answers 1. A firm's capacity to deploy resources that have been purposely
integrated to achieve a desired end state
2. Emerge over time through complex interactions among tangible and intangible resources
3. Often are based on developing, carrying and exchanging information and knowledge through
the firm's human capital
Organizational Capabilities correct answers Competencies or skills that a firm employs to
transform inputs to outputs, and capacity to combine tangible and intangible resources to attain a
desired end
Types of Organizational Capabilities correct answers 1. Outstanding Customer Service
2. Excellent product development capabilities
3. Innovativeness of products and services
4. Ability to hire, motivate, and retain human capital
Core Competencies correct answers Resources and capabilities that serve as a source of a firm's
competitive advantage:
1. distinguish a company competitively and reflect its personality
2. emerge over time through an organizational process of accumulating and learning how to
deploy different resources and capabilities
Is the resource *valuable*? correct answers Organizational resources can be a source of
competitive advantage *only* when they are valuable
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