5 Written questions
5 Matching questions
- Core firms
- Valuable resource
- Distinctive competence
- Competitive Aggressiveness
- a the central companies in a strategic group.
- b a resource that allows companies to improve efficiency and effectiveness.
- c 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.
- d what a company can make, do, or perform better than its competitors. Review the resources and the processes to see if it's valuable or not. Rare is important as well. Rare means that not everyone has equal access. It is not easy to duplicate. Regular coffee verses Starbucks coffee (example). You want to ensure the product or service cannot be substituted. (This would be a competitor advantage)
- e 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 Multiple choice questions
- providing greater value for customers than competitors can.
- the extent to which competitors have similar amounts and kinds of resources.
- entrepreneurial firms are willing to take risks that could result in costly failures.
- distinctive competencies and core capabilities
- Profits,Sales Growth, and Return on Investment
5 True/False questions
Cash cow → 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
Dog → a company with a large share of a fast-growing market
Benchmarking → entrepreneurial firms are willing to take risks that could result in costly failures.
The matrix separates businesses into four categories which are WHAT? → related diversification
Star → a company with a large share of a fast-growing market