WWU MGMT 495 Final | Jungkook |
review slides correctly answered to pass
Operational Effectiveness - correct answer ✔✔Performing similar activities better than rivals
management tools rather than strategic position
necessary to achieve superior profitability, not sufficient
strategy - correct answer ✔✔Unique activities
be different
combine activities
deliberately choosing different sets of activities to deliver unique mix of value
Trade-offs - correct answer ✔✔when activities are incompatible
unique strategy hinders on trade-offs
create need for choice + limit what companies offer
Porter's 5 forces + 6th - correct answer ✔✔power of buyers
power of suppliers
threat of new entry
threat of substitutes
rivalry intensity
+
compliments
, Willingness to pay (WTP) - correct answer ✔✔Price of competition - market price = consumer
surplus
Isolating Mechanisms - correct answer ✔✔Path dependence
Time compression diseconomies
Tacit knowledge
casual ambiguity
social complexity
Path Dependence - correct answer ✔✔decisions we are faced with depend on past knowledge
trajectory and decisions made, and are thus limited by the current competence base. In other
words, history matters for current decision-making situations and has a strong influence on
strategic planning
Time compression Diseconomies - correct answer ✔✔you cannot speed up the processes it
takes to do things and do them well
Tacit Knowledge - correct answer ✔✔learned by doing, not easily transferable
Casual Ambiguity - correct answer ✔✔
Types of knowledge - correct answer ✔✔Tacit - "know how" not written or expressed easily,
learned
explicit - "Know what" transferable, textbook
Types of innovation - correct answer ✔✔Architectural
Radical
review slides correctly answered to pass
Operational Effectiveness - correct answer ✔✔Performing similar activities better than rivals
management tools rather than strategic position
necessary to achieve superior profitability, not sufficient
strategy - correct answer ✔✔Unique activities
be different
combine activities
deliberately choosing different sets of activities to deliver unique mix of value
Trade-offs - correct answer ✔✔when activities are incompatible
unique strategy hinders on trade-offs
create need for choice + limit what companies offer
Porter's 5 forces + 6th - correct answer ✔✔power of buyers
power of suppliers
threat of new entry
threat of substitutes
rivalry intensity
+
compliments
, Willingness to pay (WTP) - correct answer ✔✔Price of competition - market price = consumer
surplus
Isolating Mechanisms - correct answer ✔✔Path dependence
Time compression diseconomies
Tacit knowledge
casual ambiguity
social complexity
Path Dependence - correct answer ✔✔decisions we are faced with depend on past knowledge
trajectory and decisions made, and are thus limited by the current competence base. In other
words, history matters for current decision-making situations and has a strong influence on
strategic planning
Time compression Diseconomies - correct answer ✔✔you cannot speed up the processes it
takes to do things and do them well
Tacit Knowledge - correct answer ✔✔learned by doing, not easily transferable
Casual Ambiguity - correct answer ✔✔
Types of knowledge - correct answer ✔✔Tacit - "know how" not written or expressed easily,
learned
explicit - "Know what" transferable, textbook
Types of innovation - correct answer ✔✔Architectural
Radical
