5 Written questions
5 Matching questions
- Unrelated diversification
- Competitive advantage
- Direct competition
- Rare resource
- a 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
- b providing greater value for customers than competitors can.
- c a company with a large share of a fast-growing market
- d creating or acquiring companies in completely unrelated businesses.
- e a resource that is not controlled or possessed by many competing firms.
5 Multiple choice questions
- entrepreneurial firms are willing to take risks that could result in costly failures.
- Star, Question mark,Cash cow, and Dog
- : the firms in a strategic group whose strategies are changing from one strategic position to another
- distinctive competencies and core capabilities
- the degree to which two companies have overlapping products, services, or customers in multiple markets
5 True/False questions
Distinctive competence → 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)
Core firms → the central companies in a strategic group.
Diversification → 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.
Corporate-level strategy → strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business
Reality Check: make assessments of the surrounding environment called ______ _______ as known as Environmental Analysis. → Situation Analysis