Vrio analysis - Study guides, Revision notes & Summaries

Define Industry correct answers group of producers of close substitutes Define Strategic Planning correct answers attempt to systematically examine the internal abilities of an organization and its external environment. Define SWOT correct answers Strengths, Weaknesses, Opportunities & Threats Regarding strategic planning, what does the question, "what do you want to accomplish?" relate to? correct answers missions & goals Regarding strategic planning, what does the question, "wha...

AI is meant to __________ human abilities - correct answer AUGMENT Goal for implementation/results - correct answer DATA-DRIVEN decision-making Every MIS investment must be __________! - correct answer SRATEGIC Every __________ in a firm must participate - correct answer FUNCTION Every __________ mu...

Delivering a unique value correct answers The base of a business strategy -->the reason a firm wins with customers or the value proposition it offers to customers -low cost advantage OR -differentiation advantage Competitive Advantage & Profits correct answers requires that a firm consistently outperform its rivals in generating above-average profits. -->a firm has a competitive advantage when it can consistently generate above-average profits through a strategy that competitors...

WPC 480 Midterm Exam Questions And Answers 100% Solved 2024/2025 The relative bargaining power of suppliers is high when incumbent firms face low switching costs when changing suppliers. A. True B. False - answerFalse According to the internal value chain analysis, which of the following is a primary activity? A. Research and Development B. Supply Chain Mgt C. Accounting D. Human Resources - answerSupply Chain Mgt _______________________ is best described as the difference between the...

What is PEST? For what is PEST used?* correct answers Macro-Environmental Analysis 1. Political/Legal 2. Economic 3. Social/Cultural 4. Technologoical 5. Environmental Name the five forces. What is the purpose of the five forces model?** correct answers Determine the attractiveness of an industry. 1. Buyer Power (Bargaining Power of Suppliers) 2. Bargaining Power of Suppliers 3. Threats of Subsititute Products 4. Threats of New Entrants 5. Complementary Goods 6. Rivalry Ex...

WPC 480 Midterm Exam Questions And Answers 100% Solved 2024/2025 The relative bargaining power of suppliers is high when incumbent firms face low switching costs when changing suppliers. A. True B. False - answerFalse According to the internal value chain analysis, which of the following is a primary activity? A. Research and Development B. Supply Chain Mgt C. Accounting D. Human Resources - answerSupply Chain Mgt _______________________ is best described as the difference between the...

MNGT 4800 - Exam 2 Questions With Correct Answers According to the resource-based view, a firm's competitive advantage often stems from its - answerintangible resources One of the reasons that Kodak filed for bankruptcy was due to its inability to reinvest, hone, and upgrade its once impressive film camera capabilities. Ultimately, Kodak's core competences became - answercore rigidities Value chain analysis consists of systematically analyzing a firm's key activities that for analysis ...

SEVI 3013 Exam 1 Questions and Answers Already Passed Strategy the set of decisions and actions of firm managers to ensure the future success of the firm; integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Characteristics of a strategy focuses on future and success Corporate strategy What industries should we compete in? Business strategy How should we compete in our chosen industries? Global Economy economy in whi...

LSUS MBA 705 Chapter 9 Complete Answers Blue Ocean Strategy: ️A growth strategy contingent on inventing or discovering a new industry or industry segment that creates new demand. Capabilities: ️A firm's skills at coordinating and leveraging resources to create value (often called strategic capabilities or dynamic capabilities). Gap Analysis: ️Identifying the distance between a firm's current position and its desired position with regard to an internal weakness. All things equ...

The management process - ANSWER planning, organizing, leading, controlling planning - ANSWER setting performance objectives and deciding how to achieve them organizing - ANSWER arranging tasks, people, and other resources to accomplish the work leading - ANSWER inspiring and motivating workers to work hard to achieve organizational goals controlling - ANSWER measuring performance and taking action to ensure desired results strategy steps - ANSWER 1. set goals 2. superior (financial perf...