BUSI 4940 TEST 2 (Ch.3&4) Questions
and Answers.
How do firms stay ahead with competitive advantage? - Answer Innovation (core
competencies)
3 factors for competitive advantage sustainability: - Answer 1. Rate of core competencies
2. Availability of subs
3. Imitability of core competencies
What a firm can do - Answer a function of its resources, capabilities, and core competencies
in the internal organization
What a firm might do - Answer a function of opportunities and threats in the external
environment
Global mind set - Answer the ability to analyze, understand, and manage an internal
organization in ways that are not dependent on the assumptions of a single country, culture, or
context
Tangible and intangible resources lead to - Answer Capabilities
Capabilities lead to - Answer Discovering core competencies
Discovering Core Competencies leads to - Answer Competitive and strategic advantage
Value - Answer measured by a product's performance characteristics and by its attributes for
which customers are willing to pay
Firms create value by - Answer innovatively bundling and leveraging their resources and
capabilities
The stronger these firm's core competencies - Answer the greater the amount of value they
are able to create for their customers.
Strategic decisions managers make about internal organization: - Answer 1. Nonroutine
2. Ethical implications
, 3. Significantly influence the firm's ability to earn AAR
3 conditions that affect managers as they analyze the internal organization and make decisions
about resources: - Answer 1. Uncertainty
2. Complexity
3. Intraorganizational conflicts
Judgement - Answer the capability of making successful decisions when no obviously correct
model or rule is available or when relevant data are unreliable or incomplete
Strategic leaders - Answer individuals with an ability to make effective decisions when
examining the firm's resources, capabilities, and core competencies for the purpose of making
choices about their use
Foundation of competitive advantage - Answer 1. Resources
2. Capabilities
3. Core Competencies
4 criteria of sustainable competitive advantage - Answer 1. Valuable
2. Rare
3.Costly to imitate
4. Nonsubstitutable
If the capacity has:
No value
Not rare
No costly to imitate
Substitutable - Answer Competitive disadvantage
If the capacity has:
Value
Not rare
No costly to imitate
Can be Substitutable - Answer Competitive parity
If the capacity has:
and Answers.
How do firms stay ahead with competitive advantage? - Answer Innovation (core
competencies)
3 factors for competitive advantage sustainability: - Answer 1. Rate of core competencies
2. Availability of subs
3. Imitability of core competencies
What a firm can do - Answer a function of its resources, capabilities, and core competencies
in the internal organization
What a firm might do - Answer a function of opportunities and threats in the external
environment
Global mind set - Answer the ability to analyze, understand, and manage an internal
organization in ways that are not dependent on the assumptions of a single country, culture, or
context
Tangible and intangible resources lead to - Answer Capabilities
Capabilities lead to - Answer Discovering core competencies
Discovering Core Competencies leads to - Answer Competitive and strategic advantage
Value - Answer measured by a product's performance characteristics and by its attributes for
which customers are willing to pay
Firms create value by - Answer innovatively bundling and leveraging their resources and
capabilities
The stronger these firm's core competencies - Answer the greater the amount of value they
are able to create for their customers.
Strategic decisions managers make about internal organization: - Answer 1. Nonroutine
2. Ethical implications
, 3. Significantly influence the firm's ability to earn AAR
3 conditions that affect managers as they analyze the internal organization and make decisions
about resources: - Answer 1. Uncertainty
2. Complexity
3. Intraorganizational conflicts
Judgement - Answer the capability of making successful decisions when no obviously correct
model or rule is available or when relevant data are unreliable or incomplete
Strategic leaders - Answer individuals with an ability to make effective decisions when
examining the firm's resources, capabilities, and core competencies for the purpose of making
choices about their use
Foundation of competitive advantage - Answer 1. Resources
2. Capabilities
3. Core Competencies
4 criteria of sustainable competitive advantage - Answer 1. Valuable
2. Rare
3.Costly to imitate
4. Nonsubstitutable
If the capacity has:
No value
Not rare
No costly to imitate
Substitutable - Answer Competitive disadvantage
If the capacity has:
Value
Not rare
No costly to imitate
Can be Substitutable - Answer Competitive parity
If the capacity has:
