BMGT 301 FULL QUESTIONS AND CORRECT
ANSWERS ALREADY PASSED STUDY SHEET
●● fast followers
Answer: when savvy rivals watch a pioneer's efforts, learn from their
successes and missteps, and then enter the market quickly with a
comparable or superior product at a lower cost.
●● strategic positioning
Answer: refers to performing different activities from those of rivals, or
the same activities in a different way.
●● Fresh Direct
Answer: which company is a good example of strategic positioning by
utilizing technology to create efficient model for delivering groceries in
NYC that no other company could imitate
●● competitive advantage
Answer: is the ability of a firm to outperform its competitors in financial
measures, is measured in accounting profits or stock prices
●● sustainable competitive advantage
, Answer: is financial performance that consistently outperforms their
industry peers
●● what are the four resources needed to maintain a sustainable
competitive advantage? (resource-based theory)
Answer: VRIS
●● Imitation-Resistant Value Chain
Answer: is a way of doing business that others will struggle to replicate,
and in nearly every successful effort of this kind, technology plays a key
enabling role
●● value chain
Answer: is the set of interrelated activities that bring products or services
to market.
●● what are the five primary components of the value chain?
Answer: inbound logistics, ops, outbound logistics, marketing and sales,
service
●● value web
Answer: is a collection of independent firms that use information
technology/systems to coordinate their value chains to produce a product
collectively
ANSWERS ALREADY PASSED STUDY SHEET
●● fast followers
Answer: when savvy rivals watch a pioneer's efforts, learn from their
successes and missteps, and then enter the market quickly with a
comparable or superior product at a lower cost.
●● strategic positioning
Answer: refers to performing different activities from those of rivals, or
the same activities in a different way.
●● Fresh Direct
Answer: which company is a good example of strategic positioning by
utilizing technology to create efficient model for delivering groceries in
NYC that no other company could imitate
●● competitive advantage
Answer: is the ability of a firm to outperform its competitors in financial
measures, is measured in accounting profits or stock prices
●● sustainable competitive advantage
, Answer: is financial performance that consistently outperforms their
industry peers
●● what are the four resources needed to maintain a sustainable
competitive advantage? (resource-based theory)
Answer: VRIS
●● Imitation-Resistant Value Chain
Answer: is a way of doing business that others will struggle to replicate,
and in nearly every successful effort of this kind, technology plays a key
enabling role
●● value chain
Answer: is the set of interrelated activities that bring products or services
to market.
●● what are the five primary components of the value chain?
Answer: inbound logistics, ops, outbound logistics, marketing and sales,
service
●● value web
Answer: is a collection of independent firms that use information
technology/systems to coordinate their value chains to produce a product
collectively
