MAN 4720 Exam 1 Questions & Correct Answers | Latest Update |Already Graded A+

Top Corporate Performers Characteristics : -have an entrepreneurial/opportunistic mindset -are market/customer-needs oriented -make effective use of valuable competencies -Offer new and innovative products and services Being _________ is the biggest threat to any business : non-customer centric The firms strategic choices : -economies of scale -barriers to market entry -diversification -product differentiation -industry concentration -market frictions I/O (Industry Organization) Model Assumptions 2 | P a g e : 1. The external environment imposes pressures and constraints that determine strategic choices. 2. Similarity in strategically relevant resources causes competitors to pursue similar strategies. 3. Resource differences among competitors are short-lived due to resource mobility across firms. 4. Strategic decision makers are rational and engage in profit-maximizing behaviors. 5 Forces Model of Competition : Industry Profitability : -a function of interactions among the 5 forces Building Competitive Advantage : resources, capability and core competence Core Competencies : -rare -valuabl