NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Retrenchment strategy
  2. Competitive inertia
  3. Core firms
  4. Diversification
  5. WHAT are the three steps to create strategies that produce sustainable competitive advantage?
  1. a a reluctance to change strategies or competitive practices that have been successful in the past
  2. b assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
  3. c the central companies in a strategic group.
  4. 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.
  5. e strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business

5 Multiple Choice Questions

  1. a resource that is impossible or extremely costly or difficult for other firms to duplicate.
  2. a company with a small share of a slow-growing market.
  3. entrepreneurial firms are willing to take risks that could result in costly failures.
  4. a resource, without equivalent substitutes or replacements, that produces value or competitive advantage
  5. providing greater value for customers than competitors can.

5 True/False Questions

  1. Stability strategya strategy that focuses on improving the way in which the company sells the same products or services to the same customers

          

  2. Rare resourcea resource that is not controlled or possessed by many competing firms.

          

  3. Intrapreneurshipthe process of entering new or established markets with new goods or services. (know characteristics for this)

          

  4. Question marka company with a small share of a fast-growing market

          

  5. Stara company with a small share of a slow-growing market.

          

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