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BUSI 4940 Ch. 1 - 2 & supplement of chapter Exam 1 (1)
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BUSI 4940 Ch. 1 - 2 & supplement of chapter Exam 1 (1)
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BUSI 4940 Ch. 1 - 2 & supplement ofchapter Exam 1
Globalization - CORRECT ANSWER-increase economic interdependence among
countries + their orgs as reflected in flow of products, FINA. capital and knowledge
Technology Diffusion - CORRECT ANSWER-speed at which new tech becomes
available to firms and when firms / costumers adopt them
Perpetual Innovation - CORRECT ANSWER-describes how rapidly + consistently
new information - UNIQUE TO information-internsive techs) replace older ones
(moore's law, info storge, connection tech)
Disruptive Technologies AKA Disruptive Innovation - CORRECT ANSWER-new
technology that destroys the value of an existing tech + creates new markets
what are the two main drivers of hypercompeition - CORRECT
ANSWER-globalization and technology
the need for flexibility, speed, innovation + integration in the use of technology
increases? - CORRECT ANSWER-hypercompetition
at the highest level of hypercometition what happens - CORRECT ANSWER-market
volatility and instability due to rapid pace of change in markets
glocalization? - CORRECT ANSWER-is the slowing down of globalization bc of
nationalism
who are the highest-ranking executive & board members at a public company? -
CORRECT ANSWER-ceo
owners of stock are? (ceo responds to them) - CORRECT ANSWER-common
shareholders
who is in charge of the board? do they have the power to fire the ceo? - CORRECT
ANSWER-chair of the board of directors
and yes! they can fire the CEO and TMT
, industrial organization (I/O) assumptions (there are 4) - CORRECT ANSWER-* the
external environment (whats outside the company) imposes pressures and
constraints that determine strat choices
* strategically relevant resources are similar causing competitors to pursue similar
strats
* resource are highly mobile so differences are short-lived and dont last long
* strat decision makers are more rational + engage in profit-maximizing behaviors
is it common for one person to serve all three roles of chairman, ceo and president?
- CORRECT ANSWER-yes!
resource - based model assumptions (there are 4) - CORRECT ANSWER-focuses
on the inside of the company
* firms aquire diff resources
* firms develop unique capabilities based on how they combine + use resources
* resources + certain capabilities are not highly mobile across firms
* diff in resources + capabilities are bases of competition adv
who is associated with the resource theory? - CORRECT ANSWER-jay barney
who is associated with I/O theory? - CORRECT ANSWER-michael porter
resource base model - what is the order? - CORRECT ANSWER-resources >
capabilities > core competencies
military strategy is defined as? - CORRECT ANSWER-"zero-sum" game or
"one-event" game
what are resources?
examples? - CORRECT ANSWER-resources are tangible and intangible
tangle=equipment, things you can touch
intangible = patents, knowledge, copyrights, etc
what are capabilities? - CORRECT ANSWER-an integrated set of resources
core competencies are? - CORRECT ANSWER-a "potential" source of comp adv
what are the 4 components of the VRIS?
how do you use it? - CORRECT ANSWER-valuable
rare
imitability
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