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Exam (elaborations)

WPC 480 (FINAL) Questions With Complete Solutions

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WPC 480 (FINAL) Questions With Complete Solutions Why are theories of how to achieve a competitive advantage not about sufficient causes, but only necessary causes? The causes of firm performance are not generalizable to all contexts. Firms are made more capable of achieving a competitive adv...

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  • October 23, 2024
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  • Exam (elaborations)
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  • WPC 480
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WPC 480 (FINAL) Questions With Complete
Solutions

Why are theories of how to achieve a competitive advantage not about sufficient causes, but only

necessary causes? The causes of firm performance are not generalizable to all contexts.




Firms are made more capable of achieving a competitive advantage by having strong competitors

so they must adapt and become stronger in the market. False




Accounting Value Based on historical data




Shareholder Value Based on predictions on the future




Economic Value Based on predictions of the future




Balanced Scorecard Based mostly on perceptions that can change quickly




Research into the causes of high performance in firms ought to include studying firms that have

very low performance. True

,WPC 480 (FINAL) Questions With Complete
Solutions
It is difficult to learn much about how to succeed at strategy when asking people to explain their

successes after they have become successful. True




In the long run,the major ways of evaluating firm performance will tend to be correlated with

each other. So this suggests that for a strategic analyst, it doesn't matter much what data on firm

performance is chosen. False




The higher proportion of assets that are tangible, the more useful accounting profit is as a

measure of firm performance for a strategic analyst. True




PESTEL Political


Economic

Sociocultural

Technological

Ecological

Legal




Political Non-market strategies

, WPC 480 (FINAL) Questions With Complete
Solutions

Economic Macro-economic conditions of a country or region




Sociocultural Cultures, norms, and value




Technological Application of new knowledge




Ecological Natural environment




Legal Governing laws, mandates, regulations




What is the primary value to a strategic analyst of doing a PESTEL analysis? Identifies

external conditions that can have an effect on competitiveness.




What is the most important information a strategic analyst can obtain by doing an industry

structure analysis? Who gets the profits produced by industry members.

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