STRATEGIC MANAGEMENT CONCEPTS AND
CASES BY DUANNE COMPLETE PREPARATION
GUIDE WITH SWOT ANALYSIS AND
CORPORATE STRATEGY FORMULATION
REVIEW
◉ strategy.
Answer: an integrated and coordinated set of commitments and
actions designed to exploit core competencies and gain a
competitive advantage
◉ competitive advantage.
Answer: when a firm implements a strategy that creates superior
value for customers and that competitors are unable to duplicate or
find it too costly to try to imitate
◉ above-average returns.
Answer: returns in excess of what an investor expects to earn from
other investments with a similar amount of risk
◉ risk.
, Answer: an investor's uncertainty about the economic gains or
losses that will result from a particular investment
◉ average returns.
Answer: returns equal to those an investor expects to earn from
other investments with a similar amount of risk
◉ strategic management process.
Answer: the full set of commitments, decisions, and actions required
for a firm to achieve strategic competitiveness and earn above-
average returns
◉ hypercompetition.
Answer: competition that is excessive such that it creates inherent
instability and necessitates constant disruptive change for firms in
the competitive landscape
◉ global economy.
Answer: goods, services, people, skills, and ideas move freely across
geographic borders
◉ globalization.
CASES BY DUANNE COMPLETE PREPARATION
GUIDE WITH SWOT ANALYSIS AND
CORPORATE STRATEGY FORMULATION
REVIEW
◉ strategy.
Answer: an integrated and coordinated set of commitments and
actions designed to exploit core competencies and gain a
competitive advantage
◉ competitive advantage.
Answer: when a firm implements a strategy that creates superior
value for customers and that competitors are unable to duplicate or
find it too costly to try to imitate
◉ above-average returns.
Answer: returns in excess of what an investor expects to earn from
other investments with a similar amount of risk
◉ risk.
, Answer: an investor's uncertainty about the economic gains or
losses that will result from a particular investment
◉ average returns.
Answer: returns equal to those an investor expects to earn from
other investments with a similar amount of risk
◉ strategic management process.
Answer: the full set of commitments, decisions, and actions required
for a firm to achieve strategic competitiveness and earn above-
average returns
◉ hypercompetition.
Answer: competition that is excessive such that it creates inherent
instability and necessitates constant disruptive change for firms in
the competitive landscape
◉ global economy.
Answer: goods, services, people, skills, and ideas move freely across
geographic borders
◉ globalization.
