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WPC 480 MIDTERM Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $13.49   Add to cart

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WPC 480 MIDTERM Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed

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  • WPC 480

Strategic Competitiveness -:- achieved when a firm successfully formulates and implements a value-creating strategy Strategy -:- integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Competitive Advantage -:- whe...

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  • September 4, 2024
  • 51
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WPC 480
  • WPC 480
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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



WPC 480 MIDTERM Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
Strategic Competitiveness


✓ -:- achieved when a firm successfully formulates and implements a value-creating

strategy




Strategy


✓ -:- integrated and coordinated set of commitments and actions designed to exploit

core competencies and gain a competitive advantage




Competitive Advantage


✓ -:- when it implements a strategy that creates superior value for customers and

competitors are unable to duplicate or find too costly to try to imitate.




Above average returns


✓ -:- returns in excess of what an investor expects to earn from other investments with

a similar amount of risk




Risk


1|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- investors uncertainty about the economic gains or losses that will result from a

particular investment




Average returns


✓ -:- returns equal to those an investor expects to earn from other investments with a

similar amount of risk




Strategic Management Process


✓ -:- full set of commitment, decisions, and actions required for a firm to achieve

strategic competitiveness and earn above-average returns




first step is to ANALYZE (external and internal resources, capabilities, core competencies),

next STRATEGIZE (formulation and implementation), then take action to enact strategy to

have good PERFORMANCE




Todays competitive markets:


✓ -:- 1. The global economy

2. Globalization


3. Rapid technological change


4. Increasing importance of knowledge and people


2|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




Hypercompetition


✓ -:- -A term often used to capture the realities of the competitive landscape.




-Emergence of GLOBAL ECONOMY and TECHNOLOGY (rapid change) are two primary

drivers of hyper-competitive environments and nature of todays competitive landscape




Other strategic options:


-Use of


price-quality positioning to build market presence


-Creation of new know-how and


use of first-mover advantage


-Protection or invasion of established geographic or product markets




The Global competitive landscape


✓ -:- Increasing:

-Market volatility and instability due to


the rapid pace of change in markets


-Globalized flow of financial capital

3|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

-Strategic and operational complexity


of global-scale competition


-Need for flexibility, speed, innovation,


and integration in the use of technology


-Rising product quality standards




Decreasing:


-Time for adapting to change


-Traditional sources of competitive advantage


-Traditional managerial mindset




Technology and Technological Changes


✓ -:- Technology trends impacting the global competitive environment

-Increasing rate of technology diffusion and the emergence


of disruptive technologies


-The information age: Internet and the global proliferation of low-cost computing power


-Increasing knowledge intensity


as an intangible source of competitive advantage


4|Page | Grade A+| 2024/2025

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