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WPC 470 Moore ASU Final Exam With Correct Questions & Answers The process by which people undertake economic risk to innovate- to create new products, processes, and sometimes new organizations - Entrepreneurship Competitive benefits that accrue to the successful innovator - Firstmover advantages The five different stages; introduction, growth, shakeout, maturity, and decline, that occur in the evolution of an industry over time - Industry life cycle The positive effect (externali...

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WPC 470 Moore ASU Final Exam Questions And Answers The goal-directed actions managers take in their quest for competitive advantage when competing in a single product market - ANSWER- Business-level strategy Business level strategy that successfully combines differentiation and cost-leadership activities using value innovation to reconcile the inherent tradeoffs - ANSWER- Blue ocean strategy Generic business strategy that seeks to create the same or similar value for customers at a lowe...

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