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WPC 480 midterm questions with verified solutions
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WPC 480 midterm questions with verified solutions
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WPC 480 midterm questions withverified solutions
Strategic competitiveness - correct answer ✔✔Achieved when a firm creates and applies a strategy that
creates value, this is not lasting, you need to be in the shoes of the competitor.
Competitive advantage - correct answer ✔✔When a firm formulates and implements a set of strategies
to keep customers coming back
Competitors find it either costly, or hard to imitate.
obove-average returns - correct answer ✔✔Returns in excess of what the investor would typically expect
from making investments from similar risks.
Expectations of returns vary from the different forms of investment.
Expectations on ROI varies with the risk of investment
strategic management process - correct answer ✔✔full set of commitment, decisions and actions that a
firm takes to generate value and create a comparative advantage.
Framework 3 parts of mgt process - correct answer ✔✔Analysis
Strategy
performance
Technology Diffusion - correct answer ✔✔How fast technology can permute.. Lack of cell phones in
india, and now everyone has one
Technology Disruption - correct answer ✔✔Whatsapp from a business standpoint..video calls, texting
and phone call is encrypted in one app...
These two are examples that are changing the competitive landscape.
Information age - correct answer ✔✔Availability of info. Has provided effectiveness and
efficiency...making things better and more efficient.
, importance of knowledge - correct answer ✔✔85% of shareholder value is coming from intangible
resource coming within the firm's competitive advantage.
Strategic flexibility - correct answer ✔✔Set of capabilities that a firm can apply to deal with the hyper
competitive market
Uses uncertainty and risks of hyper competitive market.
Industry Organization I/O Model: - correct answer ✔✔Focused on the external environment
The external environment under which the firm operates will determine the ability for a firm to generate
above-average returns.
Internal environment does not matter
This model helps find the most attractive industry
Resource are core competencies: How? Through the following.. - correct answer ✔✔Valuable: certain
resource provide distinct adv. To the firm to exploit opportunities in the industry
→ Inimitable: hard for the competitor to imitate (intel FAB 42)
→ Non-substitutable: Competition comes up with ways to get the like resources (to the ones in your
firm)
→ Rare: few of those resources are available
These resources coming together and being integrated into capabilities become the core competencies.
It is both the I/O model and resource-based model that lead to the firm's success (competitive strategy
decision). - correct answer ✔✔TRUE
5 forces model of competition: - correct answer ✔✔Understanding the competition's core
→ Intensity of rivalry in the industry
→ Threat of buyers
→ Threat of suppliers
→ Threat of substitutes
→ Threat of new entrants
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