OIM 210 Exam 1 with Questions and Answers

OIM 210 Exam 1 with Questions and Answers Sustainable competitive advantage ANSWER financial performance that consistently outperforms industry peers. Basics of strategy & competitive advantage ANSWER Operational Effectiveness Strategic Positioning Characteristics of assets that may yield competitive advantage (above industry profits for a long period of time) Operational Effectiveness ANSWER performing the same tasks better than your rivals. (think UPS and the left turns and FedEx) Strategic Positioning ANSWER attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company (think Zara and fresh direct) Lower prices from suppliers without scale? ANSWER Buy Direct Save by eliminating middleman Give suppliers what they want Unlimited "shelf space" Pay 'em faster Co Branding Share the data!