100% tevredenheidsgarantie Direct beschikbaar na betaling Zowel online als in PDF Je zit nergens aan vast
logo-home
MGMT 352 Purdue Exam 1 || with Errorless Solutions 100%. €11,46   In winkelwagen

Tentamen (uitwerkingen)

MGMT 352 Purdue Exam 1 || with Errorless Solutions 100%.

 11 keer bekeken  0 keer verkocht
  • Vak
  • MGMT 352
  • Instelling
  • MGMT 352

Strategy correct answers set of goal-directed actions a firm takes to gain and sustain competitive advantage 3 elements: Analysis (diagnosis of competitive advantage), Formulation (guiding policy to address competitive challenge), Implementation (set of coherent actions to implement firm's guid...

[Meer zien]

Voorbeeld 2 van de 15  pagina's

  • 25 augustus 2024
  • 15
  • 2024/2025
  • Tentamen (uitwerkingen)
  • Vragen en antwoorden
  • MGMT 352
  • MGMT 352
avatar-seller
MGMT 352 Purdue Exam 1 || with Errorless Solutions
100%.
Strategy correct answers set of goal-directed actions a firm takes to gain and sustain competitive
advantage

3 elements: Analysis (diagnosis of competitive advantage), Formulation (guiding policy to
address competitive challenge), Implementation (set of coherent actions to implement firm's
guiding policy)

Competitive Advantage correct answers superior performance relative to other competitors in the
same industry or the industry average

Sustainable competitive advantage correct answers outperforming competitors or the industry
average over a prolonged period of time

competitive disadvantage correct answers underperformance relative to other competitors in the
same industry or the industry average

competitive parity correct answers performance of two or more firms at the same level

Industry (external) effects correct answers firm performance attributed to industry structure in
which a firm competes.. about 20%, firm effects (internal) take up to 55%

PESTEL correct answers -External (macro) analysis

-Political (P): processes and actions of government bodies
- Lobbying, public relations, contributions

- Economic (E): 5 macroeconomic factors affecting firm performance
- Growth rates
- Interest rates
- Levels of employment
- Price stability (inflation/deflation)
- Currency exchange rates

- Sociocultural (S): Cultures, norms, values; dynamic; differ across groups
- Demographic trends: age gender, family size, ethnicity, sexual orientation, religion,
socioeconomic class

- Technological (T): application of knowledge to create new processes and products

-Ecologicial (E): Broad environmental issues
- Natural environment, global warming, sustainable economic growth
- Business and natural worlds are interdependent and inextricably linked

, - Legal (L): Official outcomes of political processes
- laws, mandates, regulations, court decisions

Industry correct answers a group of incumbent companies that face more or less the same set of
suppliers and buyers with similar products and services

Industry analysis correct answers identifies an industry's profit potential; derives implications for
firm's strategic position

Porter's Five Forces correct answers A framework considering the interplay between (1) the
intensity of rivalry among existing competitors, (2) the threat of new entrants, (3) the threat of
substitute goods or services, (4) the bargaining power of buyers, and (5) the bargaining power of
suppliers.

- An attractive industry has:
- weaker five forces, higher profit potential... makes competitive adv easier

- An unattractive industry has:
- stronger five forces, lower profit potential... makes comp adv. harder

- Looks at industry at a certain point; static

Force 1: Threat of Entry correct answers - New Entrants lower industry profit potential (Lower
prices, spend more to satisfy existing customers)

Entry Barriers:
- Economies of scale: mass producing ultimately lowering per unit cost... leads to larger output
- Network Effects: system or product's value increases the more you use it
- Customer Switching costs: harder to get customers if switching costs are high
- Capital requirements: high cap. rqmts. make industry unattractive
- Advantages independent of size: patents, location, brand loyalty
- Government policy: can make it easier or harder to enter... Easier: think Anti-trust law,,,
Harder: ie. restricting uber so taxis can still profit
- Credible threat of retaliation: basically a promise to fight against new entrants

Force 2: Power of Suppliers correct answers - Powerful suppliers deduce industry profit potential
- They demand higher prices for their inputs (increasing incumbents' product costs) or they
reduce quality
- All dependent on if they have bargaining power

Signs of powerful suppliers:
- Supplier's industry is smaller/more concentrated
- Supplier is not dependent on incumbent's industry alone
- Incumbents face high supplier switching costs
- Supplier's products are differentiated

Voordelen van het kopen van samenvattingen bij Stuvia op een rij:

Verzekerd van kwaliteit door reviews

Verzekerd van kwaliteit door reviews

Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!

Snel en makkelijk kopen

Snel en makkelijk kopen

Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.

Focus op de essentie

Focus op de essentie

Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper FullyFocus. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €11,46. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 84669 samenvattingen verkocht

Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen

Start met verkopen
€11,46
  • (0)
  Kopen