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BUS 4385 exam 1
Terms in this set (67)
when a firm successfully formulates and implements a value-creating strategy?
coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage?
capabilities that serve as a source of competitive advantage for a firm over its rivals?
ability for a set of resources to perform a task or activity in an integrative manner?
when a firm implements a strategy that creates superior value for customers and its competitors are unable to duplicate or find too costly to imitate?
returns in excess of what an investor expects to earn from other investments with a similar amount of risk?
above average returns
expected return based on other investments with similar risk?
investor's uncertainty about economic gain or loss resulting from an investment?
full set of commitment, decisions, and actions required for a firm to achieve strategic competitiveness and earn above average returns?
strategic management process
where goods, services, people, skills and ideas move freely across geographical borders?
increasing economic interdependence among countries and their organizations as reflected in the flow of goods, services, financial capital, and knowledge across borders?
speed at which new technologies become available and are used?
describes how rapidly and consistently new information-intensive technologies replace older ones?
technologies that destroy the value of existing technology and creates new markets?
set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment?
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