Goal of Strategy correct answers Is to obtain competitive advantage by being more differentiated or have lower costs than your competitors.
Resources that help businesses get distinctive competencies correct answers Resources that pass VRIO
Other resources that don't fully pass VRIO to help ...
MBA 505 Final Exam || A+ Verified Solutions.
Goal of Strategy correct answers Is to obtain competitive advantage by being more differentiated
or have lower costs than your competitors.
Resources that help businesses get distinctive competencies correct answers Resources that pass
VRIO
Other resources that don't fully pass VRIO to help create parity
Capability correct answers being able to use resources to make a product or service.
Capabilities are more difficult to imitate and transfer than advantages based on resources correct
answers True
more difficult to see; more difficult to learn; not as mobile
If industries don't grow they typically what? correct answers Die
Macro Forces occur correct answers Outside of an industry
Aging Population correct answers Demographic Force example
Federal target interest rate correct answers Macroeconomic Force Example
Macroeconomic forces identify the O&T in SWOT
Space Race correct answers Technological Example
Porter's 6 forces answer the question... correct answers How attractive and industry in
What makes big rivalry in an industry correct answers Where it is in the life cycle, maturity.
Also low barriers to entry create easy rivalry.
Four building blocks of Competitive Advantage correct answers Efficiency
Quality as Excellence and Reliability
Innovation
Customer Responsiveness
Efficiency (building block 1) correct answers The more efficient a company is the fewer inputs it
requires to produce an output, lowering costs.
, Quality as excellence and reliability (building block 2) correct answers When customers perceive
that its attributes provide them with higher utility than the attributes of products sold by
competitors.
When excellence is built into a product they must pay more to own of consume it.
Innovation (building block 3) correct answers a combination of generating value through
creating new or enhanced products and also generating value by creating ways to lower
production costs
Product innovation correct answers Development of products that are new to the world or have
superior attributes to existing products
Process Innovation correct answers Development of new process for producing and delivering
products to customers
Excess Capacity should be avoided, usually terrible for rivalry correct answers True
Firm-Specific Competencies correct answers Rare and difficult to imitate
Experience Curve correct answers The systematic lowering of the cost structure and consequent
unit cost reductions that have been observed to occur over the life of a product.
A products per unit production costs decline... correct answers each time its accumulated output
doubles
accumulated output correct answers total output of a product since its introduction
Experience curves are useful in what industries? correct answers Industries that mass produce a
standardized output.
Factors that determine the intensity of competition in declining industries correct answers Speed
of Decline
Height of Exit Barriers
Level of Fixed Costs
Commodity Nature of Product
Distinctive Competency Requirements correct answers - Firm specific and valuable resource,
and the capabilities to take advantage of the resource, OR
-Firm specific capability to manage resources
Distinctive competency is strongest when a firm possess both.
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