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SEVI 3013 Exam 1 | 55 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 55 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 55 Questionswith 100% Correct Answers |
Verified | Latest Update 2024
Core competencies - ✔✔capabilities that are rare, valuable, imperfectly-imitable
/non-substitutable and organized to capture value
Tangible resources - ✔✔easy to define and measure (large cash reserves)
Intangible resources - ✔✔not easy to define and measure (employee
knowledge, brandname)
VRIO framework - ✔✔value, rarity, imitability, and organization;
categorize resources to determine which are a competitive advantage
, Entry tickets - ✔✔competencies that a firm must necessarily have to survive
in the industry; valuable and non-substitutable capabilities
Core rigidities - ✔✔former core competencies that now generate inertia and
stifle innovation
Forms of imitation - ✔✔direct imitation, bells and whistles, stripping, substitution
Why competitive advantage may/not diminish over time - ✔✔sustainable
competitive advantage must be valuable, rare, imperfectly inimitable, and non-
substitutable
Value chain analysis - ✔✔allows the firm to understand the parts of its
operations that create value and those that do not
Value chain analysis key elements - ✔✔consists of primary and support activities
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