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Arrfelt Exam 1 WPC 480 Questions and Answers
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Arrfelt Exam 1 WPC 480 Questions and Answers
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Arrfelt Exam 1 WPC 480 Questions andAnswers
Stategic iiOptions iiin iiHypercompetitive iiEnviroment ii(5) ii- iiAnswers ii-1. iiGlobal
iiEconomy
2. iiuse iiof iiprice iiquality iipositioning iito iibuild iimarket iipresence.
3. iicreation iiof iinew iiknowledge iiand iiuse iiof iifirst-movers iiadvantage.
4. iiProtection iior iiinvasion iiof iistablished iigeographic iior iiproduct iimarkets.
5. iiTechnologies
What iifactors iiare iiincreasing iiin iithe iiglobal iicompetitive iilandscape? ii(3) ii- iiAnswers ii-1.
ii1. iiMarket iivolatility iiand iiinstability iidue iito iirapid iipace iiof iichange iiin iimarkets. iia)what
iihappens iiin ii1 iiplace iiquickly iitransfer. iib) iiglobalized iiflow iiof iifinancial iicapital.
2. iiStrategic ii& iioperational iicomplexity iiof iiglobal-scale iicompetition
3. iiExpectations iiof iibetter iiproducts iiand iiservices.
Decreasing iifactors iiin iiglobal iicompetitive iilandscape ii(3) ii- iiAnswers ii-1. iitime iito iiadapt
2. iitraditional iitangible iisource iiand iicompetitive iiadv. ii
3. iitraditional iimanagerial iimindset
To iicope iiwith iinew iimarketplace.... ii- iiAnswers ii-Firms iineed iistrategic iiFLEXABILITY
Where iido iifirms iiprofits iicome iifrom? ii- iiAnswers ii-1. iiIndustry ii(external)
2. iiHow iihard iiyou iiwork ii& iiyour iiskills ii(internal)
I/O iiModel ii- iiAnswers ii-1. iiExternal iiEnvironment
2. iiAttractive iiIndustry
3. iiStrategy iiFormulation
4. iiAssets iiand iiSkills
5. iiStrategy iiImplementation
6. iiSuperior iiReturns
I/O iiModel iiin iisimple iiterms ii- iiAnswers ii-1. iiStudy iithe iiexternal iienviroment ii(especially
iiindustry iienviroment)
2. iiLocate iian iiindustry iiwith iihigh iipotential iifor iiabove-avg iireturns
3. iiIdentify iistrategy iicalled iifor iiby iiattractive iiindustry iito iiearn iiabove-avg iireturns ii
4. iiDevelop/aquire iiskills ii& iiassets iineeded iito iiimplement iithe iistartegy.
5. iiUse iifirms iistrength iito iiimplement iithe iistartegy
5 iiForces iiModel iiof iiCompetition ii- iiAnswers ii-1. iiSuppliers
2. iiBuyers
, 3. iiIndustry iiRivalry ii
4. iiSubstitutes ii
5. iiPotetial iiEntrants
5 iiforces iimodel: iiTry iito iiearn iiabove iiavg iireturns iiby.... ii- iiAnswers ii-Cos-Leadership iior
ii
Differentiation
Cost-Leadership ii- iiAnswers ii-Producing iistandardized iigoods iior iiservice ii@ iicosts
iibelow iicompetitors iicost
Differentiation ii- iiAnswers ii-Proucing iidifferentiated iigoods iior iiservices iifor iiwhich
iicustomers iiare iiwilling iito iipay iia iiprice iipremium
Resource-Based iiModel ii- iiAnswers ii-1. iiResources
2. iiCapabilities
3. iiCompetitive iiAdvantage
4. iiAttractive iiIndustry
5. iiStrategy iiFormulation iiand iiImplementation
What iidrives iifirm iiperformance?(what iidoesn't) ii- iiAnswers ii-Capabilities iidrives
iiperformance.
NOT iiIndustry
core iicompetencies ii- iiAnswers ii-capabilities iithat iiserve iias iia iisource iiof iicompetitive
iiadvantage iifor iia iifirm iiover iiits iirivals
capability ii- iiAnswers ii-an iiintegrated iiset iiof iiresources
Examples iiof iiResorces iiin iiResource-Based iiModel ii- iiAnswers ii-physical, iihuman ii&
iiorganizational iicapital ii(tangible/intangible)
How iito iicapabilities iibecome iicore iicompetencies? ii(4) ii- iiAnswers ii-1. iiRare
2. iiValuable
3. iiCostly iito iiImitate
4. iiNonsubstitutable
21st iiCentury iiCompetition iiTodays iiCompetitive iiMarkets ii(3) ii- iiAnswers ii-1.
iiGlobalization
2. iiHigher iiimportance iioof iiknowledge iiand iipeople
3. iiRapid iitech iigrowth
Stakeholders ii- iiAnswers ii-Can iiaffect iifirms iimission iiand iivision
Are iiaffected iiby iistrategic iioutcomes iiachieved iiby iithe iifirm
Can iihave iienforcable iiclaims iion iithe iifirm's iiperformance
Are iiinfluenced iiwhen iiin iicontrol iiof iicritical iior iivalued iiresources
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