WPC 480 Exam REVIEW
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
strategic group - CORRECT ANSWER-the set of companies that pursue a similar strategy within a
specific industry
strategic group model - CORRECT ANSWER-a framework that explains differences in firm
performance within the same industry
mobility barriers - CORRECT ANSWER-industry-specific factors that separate one strategic group
from another
core competencies - CORRECT ANSWER-unique strengths, embedded deep within a firm, that
are critical to gaining and sustaining competitive advantage
resources - CORRECT ANSWER-any assets that a firm can draw on when formulating and
implementing a strategy
Capabilities - CORRECT ANSWER-organizational and managerial skills necessary to orchestrate a
diverse set of resources and deploy them strategically
, activities - CORRECT ANSWER-distinct and fine-grained business processes that enable firms to
add incremental value by transforming inputs into goods and services
resource based view - CORRECT ANSWER-a model that sees certain types of resources as key to
superior firm performance
Tangible Resources - CORRECT ANSWER-resources that have physical attributes and thus are
visible
intangible resources - CORRECT ANSWER-resources that do not have physical attributes and
thus are invisible
resource heterogeneity - CORRECT ANSWER-assumption in the resource-based view that a firm
is a bundle of resources and capabilities that differ across firms
resource immobility - CORRECT ANSWER-assumption in the resource-based view that a firm has
resources that tend to be "sticky" and that do not move easily from firm to firm
VRIO Framework - CORRECT ANSWER-A theoretical framework that explains and predicts firm-
level competitive advantage.
valuable resource - CORRECT ANSWER-One of the four key criteria in the VRIO framework. A
resource is valuable if it helps a firm exploit an external opportunity or offset an external threat.
rare resource - CORRECT ANSWER-One of the four key criteria in the VRIO framework. A
resource is rare if the number of firms that possess it is less than the number of firms it would
require to reach a state of perfect competition.
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
strategic group - CORRECT ANSWER-the set of companies that pursue a similar strategy within a
specific industry
strategic group model - CORRECT ANSWER-a framework that explains differences in firm
performance within the same industry
mobility barriers - CORRECT ANSWER-industry-specific factors that separate one strategic group
from another
core competencies - CORRECT ANSWER-unique strengths, embedded deep within a firm, that
are critical to gaining and sustaining competitive advantage
resources - CORRECT ANSWER-any assets that a firm can draw on when formulating and
implementing a strategy
Capabilities - CORRECT ANSWER-organizational and managerial skills necessary to orchestrate a
diverse set of resources and deploy them strategically
, activities - CORRECT ANSWER-distinct and fine-grained business processes that enable firms to
add incremental value by transforming inputs into goods and services
resource based view - CORRECT ANSWER-a model that sees certain types of resources as key to
superior firm performance
Tangible Resources - CORRECT ANSWER-resources that have physical attributes and thus are
visible
intangible resources - CORRECT ANSWER-resources that do not have physical attributes and
thus are invisible
resource heterogeneity - CORRECT ANSWER-assumption in the resource-based view that a firm
is a bundle of resources and capabilities that differ across firms
resource immobility - CORRECT ANSWER-assumption in the resource-based view that a firm has
resources that tend to be "sticky" and that do not move easily from firm to firm
VRIO Framework - CORRECT ANSWER-A theoretical framework that explains and predicts firm-
level competitive advantage.
valuable resource - CORRECT ANSWER-One of the four key criteria in the VRIO framework. A
resource is valuable if it helps a firm exploit an external opportunity or offset an external threat.
rare resource - CORRECT ANSWER-One of the four key criteria in the VRIO framework. A
resource is rare if the number of firms that possess it is less than the number of firms it would
require to reach a state of perfect competition.
