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WPC 480 Capstone Midterm Exam Questions and Answers
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WPC 480 Capstone Midterm Exam Questions and Answers
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WPC 480 Capstone Midterm ExamQuestions and Answers
strategy ii- iiAnswers ii-integrated iiand iicoordinated iiset iiof iicommitments iiand iiactions
iidesigned iito iiexploit iicore iicompetencies iiand iigain iia iicompetitive iiadvantage
Strategic iiCompetitiveness ii- iiAnswers ii-formulating iiand iiimplementing iiprogrammed
iiactions iito iioutperform iicompetitors iiin iithe iiLT
competitive iiadvantage ii- iiAnswers ii-competitors iiare iiunable iito iirecreate iivalue iiof iithe
iifirms iiproduct ii(too iihard iior iitoo iiexpensive)
-never iipermanent ii(everything iialways iichanging)
above iiaverage iireturns ii- iiAnswers ii-in iiexcess iiof iiwhat iian iiinvestor iiexpects iito iiearn
iifrom iiother iiinvestments iiwith iia iisimilar iiamount iiof iirisk
average iireturns ii- iiAnswers ii-Equal iito iithose iian iiinvestor iiexpects iito iiearn iifrom iiother
iiinvestments iiwith iia iisimilar iiamount iiof iirisk
todays iicompetitive iimarkets ii- iiAnswers ii-1. iithe iiglobal iieconomy ii
2. iiglobalization ii
3. iirapid iitechnological iichange ii
4. iiincreasing iiimportance iiof iiknowledge iiand iipeople
global iicompetitive iilandscape ii- iiAnswers ii-Increasing:
- iimarket iivolatility iiand iiinstability iidue iito iithe iirapid iipace iiof iichange iiin iimarkets
- iiblurring iiof iimarket iiboundaries
- iiglobalized iiflow iiof iifinancial iicapital ii
- iineed iifor iiflexibility, iispeed, iiinnovation, iiand iiintegration iiin iithe iiuse iiof iitechnology
- iistrategic iiand iioperational iicomplexity iiof iiglobal-scale iicompetition ii
- iirising iiproduct iiquality iistandards
Decreasing:
- iitraditional iitime iifor iiadapting iito iichange
- iitraditional iisources iiof iicompetitive iiadvantage ii
- iitraditional iimanagerial iimindset
strategic iiflexibility ii- iiAnswers ii-cope iiwith iifast iimoving iimarkets, iiovercome
iiorganizational iiinertia
, Firm iiPerformance ii- iiAnswers ii-Determined iiprimarily iiby iitwo iifactors: iifavorable
iiindustry iiand iispecific iifirm iiresources
IO iiModel ii- iiAnswers ii-Industrial iiOrganization iiModel
- iiindustry iiin iiwhich iithe iifirm iichooses iito iicompete iiwill iihave iia iistronger iiinfluence iion
iithe iifirm's iiperformance iithan iithe iichoices iimade iimy iimanagers
- iihow iithe iifirm iiwill iireach iiabove-average iireturns
- iienvironment-centric iiview iiof iibusiness iiperformance
- iinature iiv. iiNURTURE
- iibasis iifor iiPorter's iiFive iiForces iiModel
example iiof iicompetitive iiadvantage iierosion ii- iiAnswers ii-priceline- iikayak, iitripadvisor,
iicheap iiair
IO iiModel ii- iiAnswers ii-1.) iistudy iiexternal iienvironment
2.) iilocate iiindustry iifor iihigh iipotential iifor iiabove iiavg iireturns
3.) iiidentify iistrategy
4.) iidevelop iiand iiacquire iiskills iiand iiassets
5.) iiuser iifirms iistrengths
Porter's iiFive iiForces ii- iiAnswers ii-threat iiof iientry, iithreat iiof iisubstitute, iisupplier iipower,
iibuyer iipower, iiand iicompetitive iirivalry
Above iiaverage iireturns iiearned iiby ii- iiAnswers ii-produce iisame iigoods iiat iilower iicosts
ii(cost iileadership)
produce iidifferent iigoods iiat iia iipremium iiprice ii(differentiation)
Resource iiBased iiModel ii- iiAnswers ii--resource, iicapability ii(integrated iiset iiof
iiresources) ii, iiand iicore iicompetence ii(source iiof iicompetitive iiadv)
Capabilities iibecome iicore iicompetencies ii- iiAnswers ii-costly iito iiimitate, iirare, iivaluable,
iinon iisubstitutable
Firm iiDriver ii- iiAnswers ii-1.) iiidentify iifirms iiresources/ iistrengths
2.) iidetermine iifirms iicapabilities
3.) iidetermine iipotential iicompetitive iiadv
4.) iilocate iiattractive iiindustry
5.) iiselect iia iistrategy iithat iiworks iito iifirms iiadvantage
Vision ii/ iimission ii- iiAnswers ii-1.) iiwhat iithe iifirm iiis
2.) iiwhat iiit iiseeks iito iiaccomplish
3.) iiwho iiit iiserves
Vision ii- iiAnswers ii-broad iivision iiof iiwhat iithe iifirm iiwants iito iibe iiand iiachieve
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