MGT 499: Competitive Strategy Lectures 5 and 6(100% Correct answers)
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Module
MGT 499
Institution
MGT 499
Competitive Strategy correct answers Shaped by external environment (opportunities and threats) and its internal organization (strength and weaknesses)
-Distinctive array of interdependent choices that address a desired outcome, market positioning, value proposition, and source of competitive adva...
MGT 499: Competitive Strategy Lectures 5 and 6(100%
Correct answers)
Competitive Strategy correct answers Shaped by external environment (opportunities and threats) and its
internal organization (strength and weaknesses)
-Distinctive array of interdependent choices that address a desired outcome, market positioning, value
proposition, and source of competitive advantage
Corporate strategy questions correct answers -What businesses should we be in?
-How do we enter those businesses?
Business strategy questions correct answers -How should we compete?
-Which product/service will we provide to which markets?
Generic competitive strategies correct answers cost leadership, differentiation, and focus
Cost leadership correct answers Attempts to gain a competitive advantage primarily by reducing its
economic costs below its competitors
Major cost drivers of cost leadership correct answers -Economies of scale
-Learning curve
-Low-cost access to inputs
-Technology and processes
-Value chain activities
-Make-buy decisions
Cost leadership premises correct answers -Price competition
-Standardized and commodity-type products
-Buyers with similar value functions
The strategy is more valuable when correct answers -Buyers are price sensitive, have low switching cost
-Large buyers with significant bargaining power
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