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WPC 480 final exam Questions With Complete Solutions

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  • WPC 480

WPC 480 final exam Questions With Complete Solutions Risks of globalization Liability of foreigness and firms performance may suffer by entering too many global markets, either simultaneously or too quickly liability of foreignness Term describing the risk of competing outside firms, domestic...

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  • October 23, 2024
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  • 2024/2025
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  • WPC 480
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WPC 480 final exam Questions With
Complete Solutions

Risks of globalization Liability of foreigness and firms performance may suffer by

entering too many global markets, either simultaneously or too quickly




liability of foreignness Term describing the risk of competing outside firms, domestic

market




Three categories of technology related trends and conditions affecting today's firms

Technology, diffusion and disruptive technologies, the information age, and increasing

knowledge intensity




Technology diffusion Speed at which new technologies become available to firms, and

when firms, choose to adopt them




Perpetual innovation Used to describe how rapidly and consistently new information,

intense technologies replace older ones




Disruptive technologies Technologies that destroy the value of an existing technology, and

create new market

, WPC 480 final exam Questions With
Complete Solutions

Information age Dramatic change in info, technology continue occurring in the global

economy




Strategic flexibility Set of capabilities, firms use to respond to various demands and

opportunities existing in today's dynamic an uncertain competitive environment




For underlying assumptions, explain I/O model 1. Model assumes external environment

and poses pressure and constraint that determine the strategies that would result in above average

returns.

2. Most firms competing with an industry or within a segment of that industry are assumed to

control, similar strategically relevant resources, and to pursue similar strategies in light of these

resources.

3. Firms assume the resources are highly mobile

4. Model assumes that organization decision makers are rational individuals who are committed

to acting in the firm's best interest.




I/O model Challenges firms to find the most attractive industry in which to compete

, WPC 480 final exam Questions With
Complete Solutions
Five forces model of competition Analytical tool firms used to find the industry that's the

most attractive for them




Five functions of the five forces model suppliers, buyers, competitive rivalry, among firms

currently in the industry, product, substitutes, potential entrance to the industry




Three categories to classify resources Physical, human and organizational capital




Resources Input into a firms, production process, such as capital equipment, the skills of

individual employees, Pattons, finances, and talented managers




Capability Capacity for a set of resources to perform a task or an activity in an integrative

manner




Core competencies Capabilities that serve as a source of competitive advantage, for affirm

over its rivals

, WPC 480 final exam Questions With
Complete Solutions
Valuable When allow affirm to take advantage of opportunities, or neutralize threats, and

its external environment




Rare Possessed by few, if any current and potential competitors




Costly to imitate When other firms either cannot obtain them, or are at a cost disadvantage

in obtaining them compared with the firm that already possesses them




Non-substitutable When they have no structural equivalence




Vision Picture of what the firm wants to be an in broad term what it wants to achieve




Vision statement Articulates the ideal description of an organization, and gives shape to its

intended future




Mission Specifies the businesses in which firms intend to compete in the customers,

intends to serve

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