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MANA 3335 Exam 2 With Questions And Answers Graded A+
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  • MANA 3335

resources - ️️the assets, capabilities, processes, employee time, information, and knowledge that an organization uses to improve its effectiveness and efficiency and create and sustain competitive advantage sustainable competitive advantage - ️️a competitive advantage that other compan...

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  • September 16, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mana 3335

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MANA 3335 Exam 2
resources - ✔️✔️the assets, capabilities, processes, employee time, information, and
knowledge that an organization uses to improve its effectiveness and efficiency and
create and sustain competitive advantage

sustainable competitive advantage - ✔️✔️a competitive advantage that other
companies have tried unsuccessfully to duplicate and have, for the moment, stopped
trying to duplicate

competitive advantage - ✔️✔️providing greater value for customers than competitors
can

imperfectly imitable resource - ✔️✔️a resource that is impossible or extremely costly or
difficult for other firms to duplicate (for example, social networks within a company that a
competitor can't recreate)


strategic reference points - ✔️✔️the strategic targets managers use to measure
whether a firm has developed the core competencies it needs to achieve a sustainable
competitive advantage

situational (SWOT) analysis - ✔️✔️an assessment of the strengths and weaknesses in
an organization's internal environment and the opportunities and threats in its external
environment (strengths, weaknesses, opportunities, threats)


valuable resource - ✔️✔️a resource that allows companies to improve efficiency and
effectiveness. resources that are congruent with company goals (for example, a phone
company wouldn't be buying tea leaves)

rare resource - ✔️✔️a resource that is not controlled or possessed by many competing
firms

nonsubstitutable resource - ✔️✔️a resource that produces value or competitive
advantage and has no equivalent substitutes or replacements (for example, copyrights
and patents)

competitive inertia - ✔️✔️a reluctance to change strategies or competitive practices
that have been successful in the past

strategic dissonance - ✔️✔️a discrepancy between a company's intended strategy and
the strategic actions managers take when implementing that strategy

, core capabilities - ✔️✔️the internal decision-making routines, problem-solving
processes, and organizational cultures that determine how efficiently inputs can be
turned into outputs

strategic group - ✔️✔️a group of companies within an industry against which top
managers compare, evaluate, and benchmark strategic threats and opportunities


core firms - ✔️✔️the central companies in a strategic group

secondary firms - ✔️✔️the firms in a strategic group that follow strategics related to but
somewhat different from those of the core firms

corporate-level strategy - ✔️✔️the overall organizational strategy that addresses the
question "What business or businesses are we in or should we be in?"


portfolio strategy - ✔️✔️a corporate-level strategy that minimizes risk by diversifying
investment among various businesses or product lines

acquisition - ✔️✔️the purchase of a company by another company

unrelated diversification - ✔️✔️creating or acquiring companies in completely unrelated
businesses

star - ✔️✔️On the BCG matrix, a company with a large share of a fast-growing market

question mark - ✔️✔️On the BCG matrix, a company with a small share of a fast-
growing market

cash cows - ✔️✔️On the BCG matrix, a company with a large share of a slow-growing
market

dogs - ✔️✔️On the BCG matrix, a company with a small share of a slow-growing
market

related diversification - ✔️✔️creating or acquiring companies that share similar
products, manufacturing, marketing, technology, or cultures

grand strategy - ✔️✔️a strategy that focuses on increasing profits, revenues, market
shares, or the number of places in which the company does business

stability strategy - ✔️✔️a strategy that focuses on improving the way in which company
sells the same products or services to the same customers

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