Exam (elaborations)
WPC 480 - Final Exam Questions and Answers
- Course
- Institution
WPC 480 - Final Exam Questions and Answers
[Show more]
Content preview
WPC 480 - Final Exam Questions andAnswers
sustainable iicompetitive iiadvantage ii- iiAnswers ii-Competitors iiare iiunable ii(or iiunwilling)
iito iiduplicate iithe iibenefits iiof iia iifirm's iistrategy
Is iicreated iithrough iia iivalue-creating iistrategy, iibased iion iicore iicompetencies.
What iiare iisome iistrategic iichallenges iibusinesses iiface? ii- iiAnswers ii-- iiTech ii(*THIS
iiIS iiA iiCRITICAL iiONE) ii
- iiGlobalization
- iiPace iiof iiChange iior iispeed
- iiDynamic iiand iiUncertain iimarket iiconditions ii
- iiGrowth iiof iiknowledge iibase iiand iiinformation
Core iicompetencies iiare ii- iiAnswers ii-1. iiValuable ii2. iiRare ii3. iiInimitable ii4. iiNon-
substitutable
Industry iiorganization iiModel ii- iiAnswers ii-EXTERNAL iianalysis: ii
1.Analyze iithe iiexternal iienvironment
2.Identify iian iiindustry iiwith iihigh iipotential
3.Develop iia iistrategy
4.Develop iior iiacquire iineeded iiassets(people, iitech,)
5.Implement iithe iistrategy
resource-based iimodel ii- iiAnswers ii-INTERNAL iianalysis: ii
1. iiIdentify iithe iifirm's iistrengths iiand iiweaknesses
2.Determine iithe iifirm's iicapabilities
3.Match iicapabilities iiand iiresources iito iidetermine iia iicompetitive iiadvantage
4.Locate iian iiattractive iiindustry(size, iigrowth, iietc.)
5.Set iiand iiimplement iia iistrategy
looks iiat iia iifirm's iiinternal iienvironment, iiwhat iiit iican iido: iiResources ii- iiCapabilities ii-
iiCore iiCompetencies
What iiis iivision? ii- iiAnswers ii-A iiclear ii(blank) iidemonstrates ii"why iido iiwe iiexist"
A iishort iiand iiconcise iidescription iiof iiwhat iithe iifirm iiaspires iito iibe iiand iiexpects iito
iiachieve iiin iithe iifuture
, - iiReflects iithe iifirm's iivalues
- iiStretches iiand iichallenges iiits iipeople
- iiShould iibe iiinspiring iiand iirelevant iito iiall iistakeholder
What iiis iimission? ii- iiAnswers ii-An iieffective ii(blank) iipromotes iishared iivalues iiand
iiobjectives.
Specifies iithe iipresent iibusiness iior iibusinesses iiin iiwhich iithe iifirm iiintends iito iicompete
iiand iithe iicustomers iiit iiintends iito iiserve
A ii(blank) iihas iia iimore iiconcrete, iinear-term iifocus iion iicurrent iiproduct iimarkets,
iicustomers iiand iistakeholders iithan iithe iifirm's ii(blank2)
Stakeholders ii- iiAnswers ii-people iiwho iiare iiaffected iiby iia iifirm's iiperformance iiand
iiwho iihave iiclaims iion iiits iiperformance
Capital iiMarket iiStakeholders ii- iiAnswers ii-shareholders, iimajor iisuppliers iiof iicapital
ii(e.g. iibanks)
Product iiMarket iiStakeholders ii- iiAnswers ii-primary iicustomers, iisuppliers, iihost
iicommunities, iiunions
Organizational iiStakeholders ii- iiAnswers ii-employees, iimanagers, iinon-managers
Primary iiStakeholders... ii- iiAnswers ii-- iiCan iiaffect iidevelopment iiof iithe iifirm's iivision
iiand iimission
- iiAre iiimpacted iiby iithe iistrategic iioutcomes iiachieved iiby iithe iifirm
- iiCan iihave iienforceable iiclaims iion iithe iifirm's iiperformance
- iiAre iiinfluential iiwhen iiin iicontrol iiof iicritical iior iivalued iiresources
Corporate iigovernance ii- iiAnswers ii-is iithe iioversight iiof iicompanies iiby iitheir iiboards
iiand iiowners, iiwith iialigning iiinterests iiof iiowners iiand iimanagers iibeing iia iiprimary iigoal
Agency iiRelationship iiproblems ii- iiAnswers ii-Principal iiand iiagent iihave iidivergent
iiinterests iiand iigoals:
- iiShareholders iilack iidirect iicontrol iiof iilarge, iipublicly iitraded iicorporations.
- iiAgent iimakes iidecisions iithat iiresult iiin iithe iipursuit iiof iigoals iithat iiconflict iiwith iithose
iiof iithe iiprincipal.
- iiIt iiis iidifficult iior iiexpensive iifor iithe iiprincipal iito iiverify iithat iithe iiagent iihas iibehaved
iiappropriately.
- iiAgent iifalls iiprey iito iimanagerial iiopportunism.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now