Georgia State University

consumer market - Answer Buyers who want a product for personal use. geographic segmentation - Answer Process of dividing a market according to such variables as climate, region, and population density. industrial market - Answer Buyers who want a product for use in making other products. marketing - Answer the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, par...

A competitive advantage's sustainability a function of: - Answer 1. Obsolescence 2. Available Substitutes 3. Imitability External Analyses' Outcome - Answer MIGHT CHOOSE TO DO (Opportunities/ Threats) Internal Analyses' Outcomes - Answer CAN DO Matching what a firm "can do" with what it might do yields insights on its: - Answer Vision, Mission, and Strategies global mindset - Answer Ability to take an international, multidimensional per...

What is a business strategy? (PP) - Answer Focusing on a single product/ industry finding the competitive advantage and making a profit. What are the five business level strategies? (PP) - Answer 1. Cost leadership (Walmart) 2. Differentiation (Apple) 3. Focused cost leadership (Ikeai) 4. Focused differentiation (Twitter/Facebook) 5. Integrated cost/differentiation () What is the purpose of a business level strategy? (Chapter 4) - Answer to create differences betwee...

Competitive rivalry - Answer competitors engage in ? to gain an advantageous market position - Answer why do competitors engage in competitive rivalry? through competitive behavior - Answer how do competitors engage in competitive rivalry? competitive dynamics - Answer what are the results of competitive rivalry? competitors - Answer are firms competing in the same market, offering similar products, and targeting similar customers. Competitive rivalry...

Business-level strategy - Answer is an integrated and coordinated set of commitments and actions designed to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product markets. business-level strategy - Answer reflects a firm's belief about where and how it has an advantage over its rivals, while guiding decisions to choose to perform activities differently or to perform different activities than competitors. 1...

The following are independent situations for which you will recommend an appropriate audit report on internal control over financial reporting as required by PCAOB auditing standards: 1. The auditor identified a material misstatement in the financial statements that was not detected by management of the company 2. The auditor was unable to obtain any evidence about the operating effectiveness of internal control over financial reporting 3. The auditor identified several significant defi...

(T/F) The I/O (industrial organization) model assumes that the uniqueness of a firm's resources and capabilities is its main source of above-average returns. - Answer false A firm has achieved ______ when it successfully formulates and implements a value-creating strategy. a) Strategic competitiveness b) A permanently sustainable competitive advantage c) Substantial returns d) Legal and ethical core values - Answer a Which of the following elements of strategy entail s...

How the O" in the VRIO Framework relates to firm performance - Answer All the resources, capabilities, and great strategic plans in the world are useless unless the company is "o"rganized to take advantage of it; Companies must have an effective organizational, culture, structure and coordinating systems. Essential elements of an effective organized firm: * Strong leadership with a clear mission and vision (what) * Well resourced & skilled (who) * Strong distinct capabilitie...

Define corporate-level strategy - Answer strategies firms use to diversify their operations from a business operating in a single market into several product markets & industries Why do firms tend to diversify? - Answer incentives and value creating opportunities incentives - Answer diminishing market opportunities, spread across various industries, exploit valuable tangible/in tangible resources value creation - Answer obtain economies of scope by sharing activi...

cooperative strategy - Answer is a means by which firms collaborate to achieve a shared objective. Strategic alliance - Answer is a cooperative strategy in which firms combine some of their resources to create a competitive advantage Joint venture - Answer is a strategic alliance in which two or more firms create a legally independent company to share some of their resources to create a competitive advantage Equity strategic alliance - Answer is an alliance in wh...