5 Written Questions
5 Matching Questions
- Retrenchment strategy
- Competitive inertia
- Core firms
- WHAT are the three steps to create strategies that produce sustainable competitive advantage?
- a a reluctance to change strategies or competitive practices that have been successful in the past
- b assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
- c the central companies in a strategic group.
- d a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses), so that the failure of one stock or one business does not doom the entire portfolio.
- e strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business
5 Multiple Choice Questions
- a resource that is impossible or extremely costly or difficult for other firms to duplicate.
- a company with a small share of a slow-growing market.
- entrepreneurial firms are willing to take risks that could result in costly failures.
- a resource, without equivalent substitutes or replacements, that produces value or competitive advantage
- providing greater value for customers than competitors can.
5 True/False Questions
Stability strategy → a strategy that focuses on improving the way in which the company sells the same products or services to the same customers
Rare resource → a resource that is not controlled or possessed by many competing firms.
Intrapreneurship → the process of entering new or established markets with new goods or services. (know characteristics for this)
Question mark → a company with a small share of a fast-growing market
Star → a company with a small share of a slow-growing market.