WPC 470 Moore ASU Final Exam 2024
NEWEST QUESTIONS AND DETAILED
CORRECT ANSWERS | BEST STUDY
MATERIAL 100% CORRECT
The simultaneous pursuit of differentiation and low cost in
a way that creates a leap in value for both the firm and the
consumers; considered a cornerstone of blue ocean
strategy Correct Answer Value innovation
Conceptual model that shows how each stage of the
industry life cycle is dominated by a different customer
group Correct Answer Crossing-the-chasm framework
The process by which people undertake economic risk to
innovate- to create new products, processes, and
sometimes new organizations Correct Answer
Entrepreneurship
Competitive benefits that accrue to the successful
innovator Correct Answer First-mover advantages
The five different stages; introduction, growth, shakeout,
maturity, and decline, that occur in the evolution of an
industry over time Correct Answer Industry life cycle
The positive effect (externality) that one user of a product
or service has on the value of that product for other users
Correct Answer Network effects
,A form of intellectual property that gives the inventor
exclusive rights to benefit from commercializing a
technology for a specified time period in exchange for
public disclosure of the underlying idea Correct Answer
Patent
An enterprise that creates value by matching external
producers and consumers in a way that creates value for
all participants, and that depends on the infrastructure or
platform that the enterprise manages Correct Answer
Platform business
The market environment in which all players participate
relative to the platform Correct Answer Platform
ecosystem
An innovation that was developed for emerging economies
before introduced in developed economies. Sometimes
also called frugal innovation Correct Answer Reverse
innovation
The pursuit of social goals while creating a profitable
business Correct Answer Social entrepreneurship
Markets where the market leader captures almost all of
the market share and is able to extract a significant
amount of the value created Correct Answer Winner-take-
all markets
, Changes in an industry value chain that involve moving
ownership of activities upstream to originating (inputs)
point of value chain Correct Answer Backward vertical
integration
Changes in an industry value chain that involve moving
ownership of activities closer to the end (customer) point
of value chain Correct Answer Forward vertical integration
A way of orchestrating value activities in which a firm is
backwardly integrated but also relies on outside-market
firms from some of its supplies and/or is forwardly
integrated but also relies on outside-market firms for some
of its distribution Correct Answer Taper integration
A corporate planning tool in which the corporation is
viewed as a portfolio of usiness units which are
represented graphically along relative market share
(horizontal axis) and speed of market growth (vertical
axis). SBUs are plotted into four categories (dog, cash
cow, star and question mark), each of which warrants a
different investment strategy Correct Answer Boston
Consulting Group (BCG) growth-share matrix
The decisions that senior management makes and the
goal-directed actions it takes to gain and sustain
competitive advantage in several industries and markets
simultaneously Correct Answer Corporate strategy
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