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WPC 480 Zhu Midterm Questions With Complete Solutions $16.99
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WPC 480 Zhu Midterm Questions With Complete Solutions
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WPC 480 Zhu Midterm Questions With Complete Solutions What Model is this? 1. External Environment 2. An Attractive Industry 3. Strategy Formulation 4. Assets and Skills 5. Strategy Implementation 6. Superior Returns I/O Model of Above-Average Returns I/O Assumption: 1. strategic decision...

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  • October 23, 2024
  • 44
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • WPC 480
  • WPC 480

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WPC 480 Zhu Midterm Questions With
Complete Solutions

What Model is this?

1. External Environment

2. An Attractive Industry

3. Strategy Formulation

4. Assets and Skills

5. Strategy Implementation


6. Superior Returns I/O Model of Above-Average Returns




I/O Assumption:

1. strategic decision makers are __________ and engage in profit-__________ behaviors

rational, maximizing




I/O Assumption:

2. Resource differences among competitors are __________-lived due to resource __________

across firms short, mobility




I/O Assumption:

, WPC 480 Zhu Midterm Questions With
Complete Solutions
3. __________ in strategically relevant resources causes competitors to pursue __________

strategies similarity, similar




I/O Assumption:

4. The __________ environment imposes pressures and contusing that determine strategic

__________. external, choices




Five Forces Model of Competition 1. Industry Rivalry


2. Threat of Substitutes

3. Buying Power of Buyers

4. Threat of Potential Entrants

5. Buying Power of Suppliers




Five Forces Model Assumptions:


1. Industry __________ is a function of interactions among the five forces profitability




Five Forces Model Assumptions:

2. Industry __________ equates to its potential earning above-average returns by:

, WPC 480 Zhu Midterm Questions With
Complete Solutions
- producing standardized goods or services at costs __________ competitor costs (cost leadership

strategy)

- producing differentiated goods or services for which customers are willing to pay a price

__________ (a differentiation strategy) attractiveness, below, premium




The Resource Based Model of Above-Average Returns building competitive advantage:


1. resources

2. capability

3. core competency




Resource-Based Model Assumption:


1. resources and certain capabilities are not highly __________ across firms mobile




Resource-Based Model Assumption:


2. firms acquire __________ resources different




Resource-Based Model Assumption:

, WPC 480 Zhu Midterm Questions With
Complete Solutions
3. Firms develop __________ capabilities based on how they ___________ and _____ resources

unique, combine, use




Resource-Based Model assumption:

4. __________ in resources and capabilities are the bases of competitive advantage and a firm's

performance rather than its industry's structural characteristics. differences




how resources become core competencies:

- costly to __________

- valuable

- nonsubstitutable


- rare imitate




What model is this?

1. Resources

2. Capability

3. Competitive Advantage

4. An Attractive Industry

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