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SEVI 3013 Exam 1 | 150 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 150 Questions with 100% Correct Answers | Verified | Latest Update 2024
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SEVI 3013 Exam 1 | 150 Questionswith 100% Correct Answers |
Verified | Latest Update 2024
5 Forces Model key objectives - ✔✔determines the future and
current profitability of the industry
Criticisms of IO model - ✔✔IO model makes the following assumptions which
are not realistic:
-There is only one strategy that can be successful in an industry.
-All firms can (and ought to) adopt the above strategy
Strategic groups - ✔✔set of firms following similar strategies
,Competitor analysis - ✔✔focuses on each company against which a
firm competes directly
Competitor analysis key elements - ✔✔capabilities, current
strategies, assumptions, future objectives, response
Resource based model key elements - ✔✔resources, capability, competitive
advantage, attractive industry, strategy formulation and implantation,
superior returns
Resources - ✔✔broad in scope; cover a spectrum of individual, social,
and organizational phenomena
,Capabilities - ✔✔bundles of resources or organizational capability to deploy
bundles of resources; allow an organization to perform certain aspects of its
business well
Core competencies - ✔✔capabilities that are rare, valuable, imperfectly-imitable
/non-substitutable and organized to capture value
Tangible resources - ✔✔Relatively easy to identify, and include physical
and financial assets used to create value for customers
-Physical assets (Ex. plants & facilities)
-Financial assets (ex. cash & borrowing capability)
-Technoligical resources (ex.patents, copyrights)
-Organizational resources (ex. effective planning processes)
Intangible resources - ✔✔not easy to define and measure
, -Human resources (ex. trust, experience, managerial skills, etc.)
-Innovation resources (ex. innovation capabilities, tech & scientific expertise)
-Reputation Resources (ex. brand names)
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
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