5 Written questions
5 Matching questions
- WHAT are the following four conditions must be met if a firm's resources are to be used to achieve a sustainable competitive advantage?
- Strategy making can improve the following for both big and small firm:
- The matrix separates businesses into four categories which are WHAT?
- Unrelated diversification
- a Star, Question mark,Cash cow, and Dog
- b Profits,Sales Growth, and Return on Investment
- c entrepreneurial firms anticipate future problems, needs, or changes and develop solutions to meet them, even if they are unrelated to their current business.
- d creating or acquiring companies in completely unrelated businesses.
- e Valuable resource,Rare resource ,Imperfectly imitable resource, and Nonsubstitutable resource
5 Multiple choice questions
- a discrepancy between upper management's intended strategy and the strategy actually implemented by lower levels of management
- : the firms in a strategic group whose strategies are changing from one strategic position to another
- creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures
- related diversification
- assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
5 True/False questions
Growth strategy → a strategy that focuses on improving the way in which the company sells the same products or services to the same customers
Risk Taking → involves identifying outstanding practices, processes, and standards at other companies and adapting them to your own company
Core firms → the central companies in a strategic group.
Competitive Aggressiveness → 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.
Competitive inertia → a reluctance to change strategies or competitive practices that have been successful in the past