Competitive disadvantage - Study guides, Class notes & Summaries

MAN 4720 UCF Capstone Midterm with Complete Solutions Competitive Advantage Generating above average returns. Measured relative to other firms. Should rely on a more holistic perspective vs. just using one metric. Strategic Analysis framework AFI Strategy quest to gain and sustain competitive advantage over Companies array of activities vision statement paints a picture of where a company wants to be Balanced Scorecard harnesses multiple internal and external performance me...

Strategic Management ProcessMission -> Objectives -> External + Internal Analysis -> Strategic Choice -> Strategic Implementation -> Competitive Advantage Competitive Advantage= when a firm creates more economic value than rival firms -> Economic value = values - cost Competitive advantage can be: TEMPORARY or SUSTAINABLE -> CA = high profits -> attracts competition = limits duration of CA => THUS: most CA is TEMPORARY Measured through: 1) Accounting Measur...

WPC 480 Final Exam 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 b...

SEJPME 2 Test Bank: Module 1 to 24 Questions with Answers 2023 (Already Graded A+) Which hostile environment often presents complex emotional and ethical dilemmas? [objective68] major combat operations humanitarian assistance operations support for civil authorities irregular warfare environment 8) Ethical conduct in the procurement process is particularly important to ensure fair and competitive in-theater acquisition efforts and ensure these processes do not have a negative impact on t...

Strategic management correct answers Integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage Strategy correct answers A set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors 1. Diagnosis of the competitive challenge 2. A guiding policy to address the competitive challenge 3. A set of coherent actions to implement the firm's guiding policy correct answers 3 elements of...

_____ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage A) Supply chain management B) Integrated technology management C) Strategic management D) Inventory management correct answers C _____ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. A) Behavior modification B) Strategy C) Credo D) Co...

The management process correct answer: planning, organizing, leading, controlling planning correct answer: setting performance objectives and deciding how to achieve them organizing correct answer: arranging tasks, people, and other resources to accomplish the work leading correct answer: inspiring and motivating workers to work hard to achieve organizational goals controlling correct answer: measuring performance and taking action to ensure desired results strategy steps cor...

WPC 480 definitions ch 1-6 Exam With Complete Solutions an integrative management field that combines analysis, formulation and implementation in the quest for competitive advantage strategic management a set of goal directed actions a firm takes to gain and sustain superior performance relative to competitors strategy a strategy that enables a firm to achieve superior performance and contains three elements good strategy what are the three elements of a good strategy diagnos...

Strategic management - Answer-is the integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. strategy - Answer-is a set of goal-directed actions a firm takes to gain and sustain superior performance relive to competitors Good Strategy - Answer-enables a firm to achieve superior performance and sustainable competitive advantage relative to competitors Three elements of good strategy - Answer-1. a diagnosis of the competiti...

Strategic Management - management field that combines analysis, formulation and implementation in search of competitive advantage Strategy - the set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors 3 components of strategy (AFI) - 1. Analysis 2. Formulation 3. Implentation competitive advantage - when a firm has superior relative performance sustained competitive advantage - competitive advantage that is prolonged competitive disadva...