WPC 480 Exam #1 Questions With Complete
Solutions
Sustainable Competitive Advantage outperforming competitors or the industry average
over a prolonged period of time.
Competitive Parity performance of two or more firms at the same level
Strategic Management Process -Environmental scanning
-...
Sociocultural factors:demographic trends,cultures, norms, and values.
Technological factors: innovations in process and product technology
Ecological factors:involve environmental issues (e.g., Natural environment, global warming,
sustainable economic growth).
Legal factors:official outcomes of political processes (e.g., (de)regulations, court decisions, laws)
Competitive Industry Structure -Perfect competition
-Oligopoly
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