BMGT 301 EXAM WITH COMPLETE SOLUTIONS
100% CORRECT
strategic positioning - Answer performing different activities from the rivals or the same
activities in an unlike manner
operational effectiveness - Answer doing the same things better compared to the rivals
competitive advantage - Answer the capability of a firm to outperform its rivals on the
financial measures
Centres around data collect; technology can be copied
sustainable competitive advantage - Answer financial performance that always
outperforms their peers
What makes resources make sustainable competitive advantage? - Answer VRIS
(Valuable, rare, not easily imitable, non substitutability)
Imitation-resistant value chain - Answer developed 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
Switching costs - Answer Expense consumers pay from moving from one product or
service to another
Users invest time, money and other resources into products that may keep them from
switching
Vertical differentiation vs. Horizontal - Answer Vertical - build a better product; differs in
quality
, Horizontal - position yourself in 'product space' away from your competitors; used to
appeal to distinct groups of customers (blue cars vs. red cars)
Value Chain Analysis Model - Answer Looks at a firm internally
Primary activities - influence customers and the product
Support activities - activities an organization performs to support the generation of
business value
Primary Activities - Answer Inbound logistics, operations, outbound logistics, marketing
& sales, service
Support Activities - Answer Firm infrastructure, human resources management,
technology development, procurement
Value Web - Answer linear concept of value chains combined
The Five Forces - Answer 1. Competition Level
2. Barriers to entry
3. Buyer Power
4. Supplier Power
5. Threat of Substitutes
Collaborative Filtering - Answer software that monitors trends among the customers
and uses the data to personalize the customer experience (Netflix = Cinemax)
Pure Play - Answer a firm that exists exclusively online
Long-tail - Answer an extremely large selection of content or products
100% CORRECT
strategic positioning - Answer performing different activities from the rivals or the same
activities in an unlike manner
operational effectiveness - Answer doing the same things better compared to the rivals
competitive advantage - Answer the capability of a firm to outperform its rivals on the
financial measures
Centres around data collect; technology can be copied
sustainable competitive advantage - Answer financial performance that always
outperforms their peers
What makes resources make sustainable competitive advantage? - Answer VRIS
(Valuable, rare, not easily imitable, non substitutability)
Imitation-resistant value chain - Answer developed 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
Switching costs - Answer Expense consumers pay from moving from one product or
service to another
Users invest time, money and other resources into products that may keep them from
switching
Vertical differentiation vs. Horizontal - Answer Vertical - build a better product; differs in
quality
, Horizontal - position yourself in 'product space' away from your competitors; used to
appeal to distinct groups of customers (blue cars vs. red cars)
Value Chain Analysis Model - Answer Looks at a firm internally
Primary activities - influence customers and the product
Support activities - activities an organization performs to support the generation of
business value
Primary Activities - Answer Inbound logistics, operations, outbound logistics, marketing
& sales, service
Support Activities - Answer Firm infrastructure, human resources management,
technology development, procurement
Value Web - Answer linear concept of value chains combined
The Five Forces - Answer 1. Competition Level
2. Barriers to entry
3. Buyer Power
4. Supplier Power
5. Threat of Substitutes
Collaborative Filtering - Answer software that monitors trends among the customers
and uses the data to personalize the customer experience (Netflix = Cinemax)
Pure Play - Answer a firm that exists exclusively online
Long-tail - Answer an extremely large selection of content or products
