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BPL 5100 Exam Study Questions Solved 100% Correct| Verified Answers
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BPL 5100 Exam Study Questions Solved 100% Correct| Verified Answers
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BPL 5100 Exam Study Questions Solved 100%Correct| Verified Answers
marketing & sales - ✔✔activities associated with making end users buy the product/service -
includes brand positioning, advertisement
service - ✔✔enhancing or maintaining the value of the product after purchase, like
installation, customer service, repairs
procurement - ✔✔purchasing inputs used in the firm's value chain
technology development - ✔✔related to the product and to all activities - Ex - software for
managing: inventory, pricing, & customer service
human resource management - ✔✔finding and keeping the right mix of skilled people -
recruiting, hiring, compensation
general administration (firm infrastructure) - ✔✔general management, planning, financing
Three types of firm resources - ✔✔tangible resources; intangible resources; organizational
capabilities
tangible resources - ✔✔easy to identify; e.g., physical and financial assets
intangible resources - ✔✔difficult to identify and account for; typically embedded in routines
and practices
, organizational capabilities - ✔✔competencies or skills a firm uses to transform inputs into
outputs: capacity to deploy and redeploy tangible and intangible resources
VRIN Framework - ✔✔Valuable; Rare; In-imitable; non-sustitutable
Valuable? - ✔✔Does the resource/capability add value by enabling to exploit opportunities
or neutralize threats?
Rare? - ✔✔Do others possess the resource/capability, or can they easily obtain it?
In-imitable? - ✔✔Can others easily imitate the resource/capability, or will not having it pose
a disadvantage to others?
Non-substitutable? - ✔✔Is the resource/capability difficult or impossible to substitute by
competitors?
competitive positioning - ✔✔each industry offers room for individual firms to pursue
different strategies and to adopt a unique competitive positioning
competitive advantage - ✔✔cost advantage - differentiation advantage
cost advantage - ✔✔similar product at a lower cost
differentiation advantage - ✔✔price premium from unique product
Three generic strategies to competitive advantage - ✔✔Differentiation; overall cost
leadership (Low); focus
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