Globus Exam 1: Chapter 4

Define Core Competencies are unique deeply embedded firm specific strengths that allow companies to differentiate their products and services Define Resources are any assets that a company can draw on when crafting and executing strategy Define Capabilities are the organizational and managerial skills necessary to orchestrate a diverse set of resources to deploy them strategically Define Activities are distinct and fine grained business processes that enable firms to add incremental value by transforming inputs into goods and services Competitive Advantage is more likely to be based on intangible or tangible resources? Intangible resources What are the two critical assumptions behind resource based view? Resource heterogeneity and Resource Immobility Define Resource Heterogeneity Assumption under the resource based view that a firm is a bundle of resources and capabilities that differ across firms