What does vrio stand for - Study guides, Class notes & Summaries

Value - Resources must create value when engaging rivals Rarity - Certain assets are rare, giving an advantage in competitive dynamics Imitability - The inability to have your company imitated would give you a clear advantage in the market Organization - Some firms are better organized for competitive actions than others; it is challenging for slow-moving firms to wake up and become more aggressive - What does VRIO stand for? Ownership - Refers to multinational firm possession and leveragin...

What does SWOT stand for? Ans: Strength, Weakness, Opportunities, Threats Which 2 of the SWOT adjectives are internal to an organization? Ans: Strengths and Weaknesses What is the purpose of SWOT? Ans: Useful framework for strategic decision making What is a gap analysis? Ans: The difference between a firms current position and their desired position in the market referring to an internal weakness What does the value chain do? Ans: Analyze strengthes and weaknesses and understand how ...

WGU C211 - Global Economics for Managers Exam Questions With Fully Verified Answers Value - Resources must create value when engaging rivals Rarity - Certain assets are rare, giving an advantage in competitive dynamics Imitability - The inability to have your company imitated would give you a clear advantage in the market Organization - Some firms are better organized for competitive actions than others; it is challenging for slow-moving firms to wake up and become more aggressive - answ...

Define Industry correct answers group of producers of close substitutes Define Strategic Planning correct answers attempt to systematically examine the internal abilities of an organization and its external environment. Define SWOT correct answers Strengths, Weaknesses, Opportunities & Threats Regarding strategic planning, what does the question, "what do you want to accomplish?" relate to? correct answers missions & goals Regarding strategic planning, what does the question, "wha...

MNG3701 - Case Study: Spurcorp – VRIO Revised Questions and Answers 2023 What does the VRIO framework stand for? Valuable- is the resource valuable?, rare- is the resource rare?, imitable- is the resource imitable?, organized- are there organizational processes in place to support valued resources? What are the 3 types of resources? Tangible, Intangible, Capabilities What king of resource does this describe? Spur's strong brand name Intangible What king of resource do...

What does the VRIO framework stand for? Valuable- is the resource valuable?, rare- is the resource rare?, imitable- is the resource imitable?, organized- are there organizational processes in place to support valued resources? What are the 3 types of resources? Tangible, Intangible, Capabilities Brainpower Read More What king of resource does this describe? Spur's strong brand name Intangible What king of resource does this describe? reputation for a good steak Intangible What king ...

Define Industry correct answers group of producers of close substitutes Define Strategic Planning correct answers attempt to systematically examine the internal abilities of an organization and its external environment. Define SWOT correct answers Strengths, Weaknesses, Opportunities & Threats Regarding strategic planning, what does the question, "what do you want to accomplish?" relate to? correct answers missions & goals Regarding strategic planning, what does the question, "wha...

WGU C211 - Global Economics for Managers Exam Questions With Fully Verified Answers Value - Resources must create value when engaging rivals Rarity - Certain assets are rare, giving an advantage in competitive dynamics Imitability - The inability to have your company imitated would give you a clear advantage in the market Organization - Some firms are better organized for competitive actions than others; it is challenging for slow-moving firms to wake up and become more aggressive - answ...

What is PEST? For what is PEST used?* correct answers Macro-Environmental Analysis 1. Political/Legal 2. Economic 3. Social/Cultural 4. Technologoical 5. Environmental Name the five forces. What is the purpose of the five forces model?** correct answers Determine the attractiveness of an industry. 1. Buyer Power (Bargaining Power of Suppliers) 2. Bargaining Power of Suppliers 3. Threats of Subsititute Products 4. Threats of New Entrants 5. Complementary Goods 6. Rivalry Ex...

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