BMGT 301 FINAL QUESTIONS WITH VERIFIED
ANSWERS
operational effectiveness - Answers - refers to performing the same tasks better than
rivals perform them. Used for commodities so everyone is selling same product but just
trying to sell it/make it for cheaper.
fast followers - Answers - when savvy rivals watch a pioneer's efforts, learn from their
successes and missteps, and then enter the market quickly with a comparable or
superior product at a lower cost.
strategic positioning - Answers - refers to performing different activities from those of
rivals, or the same activities in a different way.
Fresh Direct - Answers - which company is a good example of strategic positioning by
utilizing technology to create efficient model for delivering groceries in NYC that no
other company could imitate
competitive advantage - Answers - is the ability of a firm to outperform its competitors in
financial measures, is measured in accounting profits or stock prices
sustainable competitive advantage - Answers - is financial performance that consistently
outperforms their industry peers
what are the four resources needed to maintain a sustainable competitive advantage?
(resource-based theory) - Answers - VRIS
Imitation-Resistant Value Chain - Answers - is a way of doing business that others will
struggle to replicate, and in nearly every successful effort of this kind, technology plays
a key enabling role
value chain - Answers - is the set of interrelated activities that bring products or services
to market.
what are the five primary components of the value chain? - Answers - inbound logistics,
ops, outbound logistics, marketing and sales, service
value web - Answers - is a collection of independent firms that use information
technology/systems to coordinate their value chains to produce a product collectively
switching costs - Answers - exist when consumers incur an expense to move from one
product or service to another
ANSWERS
operational effectiveness - Answers - refers to performing the same tasks better than
rivals perform them. Used for commodities so everyone is selling same product but just
trying to sell it/make it for cheaper.
fast followers - Answers - when savvy rivals watch a pioneer's efforts, learn from their
successes and missteps, and then enter the market quickly with a comparable or
superior product at a lower cost.
strategic positioning - Answers - refers to performing different activities from those of
rivals, or the same activities in a different way.
Fresh Direct - Answers - which company is a good example of strategic positioning by
utilizing technology to create efficient model for delivering groceries in NYC that no
other company could imitate
competitive advantage - Answers - is the ability of a firm to outperform its competitors in
financial measures, is measured in accounting profits or stock prices
sustainable competitive advantage - Answers - is financial performance that consistently
outperforms their industry peers
what are the four resources needed to maintain a sustainable competitive advantage?
(resource-based theory) - Answers - VRIS
Imitation-Resistant Value Chain - Answers - is a way of doing business that others will
struggle to replicate, and in nearly every successful effort of this kind, technology plays
a key enabling role
value chain - Answers - is the set of interrelated activities that bring products or services
to market.
what are the five primary components of the value chain? - Answers - inbound logistics,
ops, outbound logistics, marketing and sales, service
value web - Answers - is a collection of independent firms that use information
technology/systems to coordinate their value chains to produce a product collectively
switching costs - Answers - exist when consumers incur an expense to move from one
product or service to another
