BUSI 4940 EXAM 2 STUDY GUIDE
Capabilities - Answers - •The ability to combine resources, tangible and/or intangible, to
create something that is valuable to the organization
Tangible Resources - Answers - : Assets that can be observed ('touched') and/or
quantified
intangible resources - Answers - -: Assets that are usually rooted deeply in the firm's
history, usually tied to its people, and usually take a longer time to develop. They tend
to be more difficult for other companies to imitate
VRIS Framework 1: Valuable - Answers - No - Discrad or fix if critical. leads to a rapid
failure or competitive disadvantage.
Yes - move to next question.
VRIS Framework 2: Rare - Answers - No - Leads to competitive parity.
Yes - competitive Adv. (next question)
VRIS Framework 3: Imitability - Answers - No - Short-term competitive advantage.
Yes - Move to next question.
VRIS Framework 4: Substitutable - Answers - No - Sustainable Competitive Advantage
Yes - Short term competitive advantage.
Value Chain - Answers - A Value Chain is a representation of the sequential steps
involved in producing goods (and services), starting with raw materials and ending with
the delivered product. The value chain process is also assisted by a number of
'supporting functions
Company-Level primary activities - Answers - Inbound logistics, operations, outbounds
logistics, marketing and sales, Customer Service
Company-level supporting activities - Answers - Finance, HR, Leasing/real estate Mgt,
information systems
Industry-level Primary steps - Answers - Mining or harvesting, gathering and
processing, transport for further processing, manufacture final version, sell and deliver.
industry-level supporting activities - Answers - Risk management, contract
management, G&A services.
Business-level strategy - Answers - - cost leadership
- differentiation
Capabilities - Answers - •The ability to combine resources, tangible and/or intangible, to
create something that is valuable to the organization
Tangible Resources - Answers - : Assets that can be observed ('touched') and/or
quantified
intangible resources - Answers - -: Assets that are usually rooted deeply in the firm's
history, usually tied to its people, and usually take a longer time to develop. They tend
to be more difficult for other companies to imitate
VRIS Framework 1: Valuable - Answers - No - Discrad or fix if critical. leads to a rapid
failure or competitive disadvantage.
Yes - move to next question.
VRIS Framework 2: Rare - Answers - No - Leads to competitive parity.
Yes - competitive Adv. (next question)
VRIS Framework 3: Imitability - Answers - No - Short-term competitive advantage.
Yes - Move to next question.
VRIS Framework 4: Substitutable - Answers - No - Sustainable Competitive Advantage
Yes - Short term competitive advantage.
Value Chain - Answers - A Value Chain is a representation of the sequential steps
involved in producing goods (and services), starting with raw materials and ending with
the delivered product. The value chain process is also assisted by a number of
'supporting functions
Company-Level primary activities - Answers - Inbound logistics, operations, outbounds
logistics, marketing and sales, Customer Service
Company-level supporting activities - Answers - Finance, HR, Leasing/real estate Mgt,
information systems
Industry-level Primary steps - Answers - Mining or harvesting, gathering and
processing, transport for further processing, manufacture final version, sell and deliver.
industry-level supporting activities - Answers - Risk management, contract
management, G&A services.
Business-level strategy - Answers - - cost leadership
- differentiation
