5 Written questions
5 Matching questions
- Corporate-level strategy
- An analysis of an organization's internal environment begins with an assessment of WHAT?
- Nonsubstitutable resource
- a distinctive competencies and core capabilities
- b the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"
- c the process of entering new or established markets with new goods or services. (know characteristics for this)
- d involves identifying outstanding practices, processes, and standards at other companies and adapting them to your own company
- e a resource, without equivalent substitutes or replacements, that produces value or competitive advantage
5 Multiple choice questions
- The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage
- related diversification
- a group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities.
- entrepreneurial firms must be more willing to use unconventional strategies than the firms already existing in a new market space in order to gain an advantage.
- a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
5 True/False questions
Proactiveness → 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
Secondary firms → the central companies in a strategic group.
Situational Analysis (SWOT) → a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
Market commonality → the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions
Valuable resource → a resource that is not controlled or possessed by many competing firms.