Business Capstone Exam Questions
With Verified Solutions5
Competitive advantage - ANSWERS a firm has this when it implements a strategy that creates
superior value for customers and competitors are unable to duplicate or find too costly to try to
imitate
Stakeholders - ANSWERS are the individuals, groups, and organizations that can affect the firm's
vision and mission, are affected by the strategic outcomes achieved, and have enforceable
claims on the firm's performance
Mission - ANSWERS specifies the businesses in which the film intends to compete and the
customers it intends to serve
Vision - ANSWERS is a picture of what the firm wants to be and in broad terms, what it wants to
ultimately achieve
Strategic Competitiveness - ANSWERS when a firm successfully formulates and implements a
value-creating strategy
General Environment - ANSWERS is composed of dimensions in the broader society that
influence an industry and the firms within it
Industry Environment - ANSWERS is the set of factors that directly influences a firm and its
competitive actions and responses: the threat of new entrants, the power of suppliers, the
power of buyers, the threat of product substitutes, and the intensity of rivalry among
competing firms
, Demographic Segments - ANSWERS are concerned with a populations size, age structure,
geographic distribution, ethnic mix, and income distribution
Competitor Analysis - ANSWERS How companies gather and interpret information about their
competitors
Tangible Resources - ANSWERS are assets that can be observed and quantified
Intangible Resources - ANSWERS include assets that are rooted deeply in the firms history,
accumulate over time, and are relatively difficult for competitors to analyze and imitate
Capabilities - ANSWERS are made from a firm's combined individual tangible and intangible
resources
Core Competencies - ANSWERS distinguish a company competitively and reflect its personality;
they emerge over time through an organizational process of accumulating and learning how to
deploy different resources and capabilities
Value Capabilities - ANSWERS allow the firm to exploit opportunities or neutralize threats in its
external environment
Rare Capabilities - ANSWERS are capabilities that few, if any, competitors possess
Costly to imitate Capabilities - ANSWERS are capabilities that other firms cannot easily develop
Nonsubstitutable Capabilities - ANSWERS are capabilities that do no have strategic equivalents
With Verified Solutions5
Competitive advantage - ANSWERS a firm has this when it implements a strategy that creates
superior value for customers and competitors are unable to duplicate or find too costly to try to
imitate
Stakeholders - ANSWERS are the individuals, groups, and organizations that can affect the firm's
vision and mission, are affected by the strategic outcomes achieved, and have enforceable
claims on the firm's performance
Mission - ANSWERS specifies the businesses in which the film intends to compete and the
customers it intends to serve
Vision - ANSWERS is a picture of what the firm wants to be and in broad terms, what it wants to
ultimately achieve
Strategic Competitiveness - ANSWERS when a firm successfully formulates and implements a
value-creating strategy
General Environment - ANSWERS is composed of dimensions in the broader society that
influence an industry and the firms within it
Industry Environment - ANSWERS is the set of factors that directly influences a firm and its
competitive actions and responses: the threat of new entrants, the power of suppliers, the
power of buyers, the threat of product substitutes, and the intensity of rivalry among
competing firms
, Demographic Segments - ANSWERS are concerned with a populations size, age structure,
geographic distribution, ethnic mix, and income distribution
Competitor Analysis - ANSWERS How companies gather and interpret information about their
competitors
Tangible Resources - ANSWERS are assets that can be observed and quantified
Intangible Resources - ANSWERS include assets that are rooted deeply in the firms history,
accumulate over time, and are relatively difficult for competitors to analyze and imitate
Capabilities - ANSWERS are made from a firm's combined individual tangible and intangible
resources
Core Competencies - ANSWERS distinguish a company competitively and reflect its personality;
they emerge over time through an organizational process of accumulating and learning how to
deploy different resources and capabilities
Value Capabilities - ANSWERS allow the firm to exploit opportunities or neutralize threats in its
external environment
Rare Capabilities - ANSWERS are capabilities that few, if any, competitors possess
Costly to imitate Capabilities - ANSWERS are capabilities that other firms cannot easily develop
Nonsubstitutable Capabilities - ANSWERS are capabilities that do no have strategic equivalents
