5 Written Questions
5 Matching Questions
- WHAT are the three steps to create strategies that produce sustainable competitive advantage?
- Market commonality
- Transient firms
- Cash cow
- a : the firms in a strategic group whose strategies are changing from one strategic position to another
- b assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
- c a company with a large share of a slow-growing market
- d a company with a large share of a fast-growing market
- e the degree to which two companies have overlapping products, services, or customers in multiple markets
5 Multiple Choice Questions
- Valuable resource,Rare resource ,Imperfectly imitable resource, and Nonsubstitutable resource
- the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem
- the central companies in a strategic group.
- : a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage.
- a resource, without equivalent substitutes or replacements, that produces value or competitive advantage
5 True/False Questions
Reality Check: make assessments of the surrounding environment called ______ _______ as known as Environmental Analysis. → Situation Analysis
Retrenchment strategy → a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business.
Strategy Making for Firms Big and Small → a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
Secondary firms → the central companies in a strategic group.
Strategy making can improve the following for both big and small firm: → The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage