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WPC 480 Final Exam with correct Answers
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WPC 480 Final Exam with correct Answers
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WPC 480 Final Exam with correctAnswers
corporate iistrategy ii- iiAnswers ii-The iidecisions ii& iiactions iitaken iito iigain ii& iisustain
iicompetitive iiadvantage iiin iiseveral iiindustries iiand iimarkets iisimultaneously
addresses iiwhere iito iicompete iialong ii3 iidimensions ii(industry iivalue iichain,
iiproducts/services, iigeography)
vertical iiintegration ii- iiAnswers ii-the iiprocess iiin iiwhich iiseveral iisteps iiin iithe iiproduct
iiand/or iidistribution iiof iiproduct iiare iicontrolled iiand iiowned iiby iia iisingle iicompany iior
iientity, iiin iiorder iito iiincrease iithat iicompany's iipower iiin iithe iimarketplace
-expanding iiinto iiother iiactivities iiwithin iithe iisame iivalue iichain
forward iiintegration ii- iiAnswers ii-internalizing iiand iiowning iisome iiactivities iithat iiare
iicloser iito iithe iiend iicustomer iiin iithe iivalue iichain
ex.: iiconcentrate iiproducers iiowning iibottlers
backward iiintegration ii- iiAnswers ii-internalizing iiactivities iibackwards iifarther iifrom iiend
iicustomers
ex.: iihermes iipurses iiowning iithe iileather iisuppliers
transaction iicost iieconomics ii- iiAnswers ii-a iitheoretical iiframework iithat iihelps iiexplain
iiand iipredict iiboundaries iiof iithe iifirm
transaction iicosts ii- iiAnswers ii-costs iiassociated iiwith iian iieconomic iiexchange
the iicosts iiassociated iiwith iiactivities iithat iiare iinot iidirectly iiproductive iibut iiare iiengaged
iiin iionly iias iia iiconsequence iiof iithe iineed iito iicoordinate iiexchange iiamong iithe iiparties
iiin iithe iitransaction
internal iitransaction iicosts ii- iiAnswers ii--Recruiting iiand iiretaining iiemployees
-Paying iisalaries iiand iibenefits
-Setting iiup iia iishop iifloor
-Providing iioffice iispace iiand iicomputers, iietc.
external iitransaction iicosts ii- iiAnswers ii--Searching iifor iia iifirm iiindividual iito iicontract
iiwith
-bargaining, iinegotiating, iihaggling iicost
, -monitoring, iimeasuring, iisupervising, iienforcing iior iipolicing iiperformance
opportunism ii- iiAnswers ii-willingness iiof iiat iileast iisome iipeople iito iitake iiadvantage iiof
iiothers; iidishonesty
causes iiexternal iitransactions iicosts iito iiarise
greatest iiwith iithere iiis iian iiasset iispecificity iiproblem
asset iispecificity ii- iiAnswers ii-unique iiassets iiwith iiing iiopportunity iicosts: iithey iihave
iisignificantly iimore iivalue iiin iitheir iiintended iiuse iithan iiin iitheir iinext-best iiuse
site, iiphysical, iiand iihuman
causes iiexternal iitransactions iicosts iito iiarise
ex: iioil iipipeline iiexample
corporate iistrategy ii- iiAnswers ii-where iito iicompete
1. iiwhat iimix iiof iibusiness iito iioperate iiin?
2. iidetermining iithe iiboundaries iiof iithe iifirm ii(scope iiof iifirm)
business iistrategy ii- iiAnswers ii-how iito iicompete
1. iihow iito iiposition iithe iibusiness? ii(cost iileadership/differentiation)
2. iiinsistency iiin iiactions iiacross iiactivities
functional iistrategy ii- iiAnswers ii-how iito iiexecute
1. iiwhat iiactions iito iitake iiin iieach iiactivity/function
diversification ii- iiAnswers ii-what iirange iiof iiproducts/services iishould iithe iifirm iioffer iiand
iiwhat iigeographic iimarkets iishould iithe iifirm iitarget?
single iibusiness ii- iiAnswers ii-TYPES iiOF iiDIVERSIFICATION
ex.: iiCoca-Cola, iiFacebook
leverages iiits iicompetencies
revenue iiis ii>95% iiof iiprimary iibusiness
A
dominant iibusiness ii- iiAnswers ii-TYPES iiOF iiDIVERSIFICATION
has iia iiprimary iiand iia iiminor iibusiness ii- iishares iicompetencies
ex.: iiHarley iiDavidson ii
motorcycles ii(primary)
accessories/loan iiservices ii(minor)
A<-->b
R-constrained iidiversification ii- iiAnswers ii-TYPES iiOF iiDIVERSIFICATION
business iigenerally iishare iicompetencies
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