Strategicquestions
Management
with answers.pdf
Short Answer Quiz_ Frameworks – practice
Strategicquestions
Management
with answers.pdf
Short Answer Quiz_ Frameworks – practice questions with answers.pdf
Strategic Management
Short Answer Quiz:
Frameworks – practice
questions with answers
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Strategic Management Short Answer Quiz_ Frameworks – practice
Strategicquestions
Management
with answers.pdf
Short Answer Quiz_ Frameworks – practice
Strategicquestions
Management
with answers.pdf
Short Answer Quiz_ Frameworks – practice questions with answers.pdf
, Strategic Management Short Answer Quiz Frameworks.pdf Strategic Management Short Answer Quiz Frameworks.pdf Strategic Management Short Answer Quiz Frameworks.pdf
Competencies Set of behaviors encompassing skills, knowledge, abilities, and personal attributes
that are critical to successful work accomplishment.
Resources WHAT a firm employs to create value and competitive advantage
● Physical resources (e.g., land, factories, machinery, equipment)
● Financial resources (e.g., free cash flow)
● Intangible resources (e.g., employee knowledge/talent, management
skill),Intellectual property, brands, reputation)
Capabilities HOW firms do things, the processes the firm uses to coordinate human activity in
order to achieve specific goals
Operating capabilities processes the firm develops to coordinate activity to achieve specific goals (e.g.,
McDonald's filling orders)
Dynamic capabilities processes that are designed to continuously expand existing resources or
improve/modify operating capabilities (e.g., P&G refining its capability of creating
new brands and expand existing brands; coordination process)
VRIO Framework The resource-based framework that focuses on the value (V), rarity (R), imitability
(I), and organizational (O) aspects of resources and capabilities.
Strategic Management Short Answer Quiz Frameworks.pdf Strategic Management Short Answer Quiz Frameworks.pdf Strategic Management Short Answer Quiz Frameworks.pdf