BUSI 4940

Which support function in the value chain involves investing in organizational functions in ways that will support the firm's efforts to produce and distribute its products in the short and long term? a. Marketing b. Finance c. Human resources d. Operations - Answer b. Finance Apple has combined financial resources and research laboratories with scientists, engineers, and organizational routines to excel in research and development (R&D) to provide innovation. In this scenario, R...

How do firms stay ahead with competitive advantage? - Answer Innovation (core competencies) 3 factors for competitive advantage sustainability: - Answer 1. Rate of core competencies 2. Availability of subs 3. Imitability of core competencies What a firm can do - Answer a function of its resources, capabilities, and core competencies in the internal organization What a firm might do - Answer a function of opportunities and threats in the external environment ...

Strategic competitiveness - Answer formulating and implementing a value-creating strategy Strategy - Answer an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Competitive advantage - Answer when by implementing a chosen strategy, it creates superior value for customers and when competitors are not able to imitate the value the firm's products create or find it too expensive to attempt imit...

General Environment - Answer Factors in the external environment that can affect the company, but the company cannot directly affect back. Or, dimensions in the broader society that influence an industry and the companies within it. In general, firms cannot directly control or significantly impact the segments of this environment. For example, the U.S. economy is so big that one company can't do much to impact it. However, the U.S. economy can impact any given company within it. ...

Complementors - Answer companies or networks of companies that sell complementary goods or services that are compatible with the focal firm's good or service General Environment - Answer composed of dimensions in the broader society that influence an industry and the firms within it Industry Environment - Answer 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 ...

what are corporate-level strategies? - Answer -strategies firms use to diversify their operations from a single business competing in a single market into several product markets—most commonly, into several businesses -specifies actions a firm takes to gain a competitive advantage by selecting and managing a group of different businesses competing in different product markets -help companies to select new strategic positions—positions that are expected to increase the firm's value...

global mind-set - Answer the ability to analyze, understand and manage an internal organization in ways that are not dependent on the assumptions of a single country, culture, or context. Value - Answer is measured by a product's performance characteristics and by its attributes for which customers are willing to pay Tangible resources - Answer are assets that can be observed and quantified. - Tangible resources are hard to leverage. - it is difficult to derive addit...