WPC 480

The two business models we reviewed—Industrial Organization and Resource-Based—focus, respectively, on _____ and _____ analysis: correct answer: external; internal What is the primary objective of a company strategy? correct answer: Achieving sustainable competitive advantage. Below are several statements from companies. Which of these is a vision statement? correct answer: Habitat for Humanity: A world where everyone has a decent place to live. A mission statement can describe: ...

Cooperative Strategy correct answer: means by which firms collaborate to achieve a shared objective strategic alliance correct answer: a cooperative strategy in which firms combine some of their resources to create CA joint venture correct answer: a strategic alliance in which two or more firms create a legally independent company to share some of their resources to create CA equity strategic alliance correct answer: an alliance in which two or more firms own different percentages o...

At the time when Ellen decided to purchase a tablet computer, the product had just become accessible to the mass market. She did not purchase the tablet until after she was convinced that the benefits it would offer her would far exceed its price. Also, she waited for her friends to try the product and popular gadget television shows to endorse it. Which of the following customer segments does Ellen best represent? correct answer: early majority Why do companies enter strategic alliances? co...

Corporate Strategy correct answer: The decisions and actions taken to gain and sustain competitive advantage in several industries and markets simultaneously Corporate Strategy addresses where to compete along what 3 dimensions? correct answer: Industry Value Chain through vertical integration Product and Services through diversification Geography through regional, national, or global markets Vertical Integration correct answer: The process in which several steps in the production...

Corporate Strategy correct answer: The decisions & actions taken to gain & sustain competitive advantage in several industries and markets simultaneously What does corporate strategy address? correct answer: Where to compete on 3 dimensions: Industry value chain: vertical integration Products & services: diversification Geography: regional, national, or global markets Vertical Integration correct answer: The process in which several steps in the production and/or distribution o...

AFI strategy framework correct answer: A model that links three interdependent strategic management tasks—analyze, formulate, and implement—that, together, help managers plan and implement a strategy that can improve performance and result in competitive advantage. PESTEL model correct answer: A framework that categorizes and analyzes an important set of external factors (political, economic, sociocultural, technological, ecological, and legal) that might impinge upon a firm. These fact...

Strategic Management correct answer: - integrative management - combines: Analysis, Formulation, and Implementation - designed to look for a companies competitive advantage - helps you think like a GM What is Strategy? correct answer: - to Gain and Sustain Competitive Advantage - its a set of Goal-directed actions to gain and sustain Superior Performance What makes a Good Strategy? correct answer: 1.Analyze firms External and Internal Environments 2. Strategy Formulation 3....

What is strategy? correct answer: An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantage. What are the 2 business analysis? correct answer: Internal and External. What are the 3 business strategies? correct answer: 1) Cost, 2) Differentiation, 3) Innovation. What is competitive advantage? correct answer: Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive advantag...