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Terms in this set (25) When a company has a proficiency in performing a strategically and competitively important value chain activity better than its rivals, it is said to have: a competitive advantage over rivals. a core competence. When a computer is shut down the information in the memory is? volatile means that data is erased from the memory when the computer is switched off.. Nội dung chính
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When a company is good at performing a particular internal activity it is said to have?a distinctive competence is a competitively relevant internal activity that a firm performs especially well relative to other internal activities, whereas a core competence is a competitively important activity performed by key strategic allies. What are the company's competitively important resources and capabilities?Q2: WHAT ARE THE FIRM’S COMPETITIVELY IMPORTANT RESOURCES AND CAPABILITIES? Competitive Assets: -Are the firm’s resources and capabilities. -Are the determinants of its competitiveness and ability to succeed in the marketplace. When a company performs an activity quite well and that activity is central?a company competence is an activity that a firm performs consistently well and at acceptable cost whereas a core competence is an activity that a company not only performs quite well but is central to its strategy and competitiveness. Which of the following is an accurate interpretation of the overall competitive strength ratings?Which of the following is an accurate interpretation or the overall strength scores that result from doing a competitive strength assessment? the higher a company’s overall strength score the stronger is its competitiveness and ability to compete successfully against rival industry members. Which market opportunities are most important for a company?Which market opportunities are most important for a company? Opportunities that offer the best growth and profitability. When looking at the entire industry the main areas in a company's overall value chain where important differences between firm's cost and value do not occur are in?The three main areas in the value chain where significant differences in the costs of competing firms can occur include: the nature and makeup of their own internal operations, the activities performed by suppliers, and the activities performed by wholesale distribution and retailing allies. What is the value of doing competitive strength assessment?Why its helpful:This assessment is simple, quick, and useful for multiple reasons. First, if you complete the assessment honestly, it gives you a base on where you need to improve and where you excel within your company. It also helps you realize your competition and your strengths and weaknesses compared to them. Which of the following is a type of competitive strategy?Four types of competitive strategies Check them out below. Cost leadership strategy. It suits large businesses that can produce a big volume of products at a low cost, and that is why Walmart implemented this strategy. It means that companies using a cost leadership strategy are the lowest price sellers on the market. How important is the company's resources and capabilities in contributing to a competitive advantage?Resources and Capabilities are the sources of competitive advantage and the primary source of profitability for any firm. Resources and capabilities empower a company to drive the business and face competition with their products & offerings for the need of customers. How do companies determine the competitive power of a company's resources and capabilities?The competitive power of a resource or capability is measured by how many of four specific tests it can pass. 4 These tests are referred to as the VRIN tests for sustainable competitive advantage—VRIN is a shorthand reminder standing for Valuable, Rare, Inimitable, and Nonsubstitutable. What type of resources and capabilities can contribute to competitive advantage and superior performance?Thus, the source of competitive advantage cannot be imitated by competitors in the future. Competitive advantage can be gained from adoption of advance technology, excellent service, low cost production, or selling of unique products. Which of the following is one of the objectives of benchmarking?The objective of benchmarking is to use the data gathered in your benchmarking process to identify areas where improvements can be made by: Determining how and where other companies are achieving higher performance levels than your company has been able to achieve. What are two of the three best indicators as to how well a company's strategy is working?The three best indicators of how well a company’s strategy is working are (1) whether the company is achieving its stated financial and strategic objectives, (2) whether its financial performance is above the industry average, and (3) whether it is gaining customers and increasing its market share. Which of the following is most likely to represent a company's most potent resource or capability?Which of the following is most likely to represent a company’s most potent resource or capability? A distinctive competence in performing a competitively important value chain activity. How well a company performs and the degree of market success?How well a firm performs and the degree of market success it achieves are directly attributable to: the caliber of its strategy. the proficiency with which the strategy is executed. Which of the following competitive forces affect an industry's attractiveness?Industry competition and attractiveness can be described by considering the following five forces: (1) the intensity of rivalry among existing competitors, (2) the potential for new entrants to challenge incumbents, (3) the threat posed by substitute products or services, (4) the power of buyers, and (5) the power of … What makes a competitive advantage sustainable?Sustainable competitive advantages are company assets, attributes, or abilities that are difficult to duplicate or exceed; and provide a superior or favorable long term position over competitors. Companies increase market share through innovation, strengthening customer relationships, smart hiring practices, and acquiring competitors. A company’s market share is the percentage it controls of the total market for its products and services. How do you evaluate marketing opportunities?
What is a competitive environment?The competitive environment relates to how a business is affected by its competition and how it adapts its businesses practices to enable it to compete effectively. What are examples of ways that companies signal would be challengers that retaliation is likely?What are examples of ways that companies signal would-be challengers that retaliation is likely? switching costs discourage a first mover’s customers from seeking a different vendor. being first in a new market builds strong brand loyalty and enhances a firm’s reputation. In which of the following situations is being first to initiate a particular move not likely to result in a positive payoff?In which of the following situations is being first to initiate a particular move not likely to result in a positive payoff? When potential buyers are skeptical about the benefits of a new technology or product being pioneered by a first mover. Which of the following statements about market opportunity is correct multiple choice market opportunity is a big factor in shaping a company's strategy?Two answers are correct: Market opportunity is a big factor in shaping a company’s strategy; and in evaluating the attractiveness of a company’s market opportunities, managers have to guard against viewing every industry opportunity as a suitable opportunity. All of these choices are correct. When a company is good at performing a particular internal activity?a distinctive competence is a competitively relevant internal activity that a firm performs especially well relative to other internal activities, whereas a core competence is a competitively important activity performed by key strategic allies. Which two kinds of improvements in performance provide the best information about whether a strategy is producing good company performance?The Performance Test. A good strategy boosts company performance. Two kinds of performance improvements are the most telling: gains in profitability and gains in the company’s long-term business strength and competitive position. When an activity becomes something a company has learned to perform proficiently and capably It is said to have?When an activity becomes something a company has learned to perform proficiently and capably, the company is said to have: A. a competence. What is a company's competitive strategy?What is Competitive Strategy? Competitive Strategy is defined as the long term plan of a particular company in order to gain competitive advantage over its competitors in the industry. It is aimed at creating defensive position in an industry and generating a superior ROI (Return on Investment). Which strategy is about how do you compete successfully in particular markets?
What are different competitive strategies employed by company?
What resources and competitive capabilities does a company need to have to be competitively successful?
What is the importance of competitive advantage?Importance of Competitive Advantage A competitive advantage distinguishes a company from its competitors. It contributes to higher prices, more customers, and brand loyalty. Establishing such an advantage is one of the most important goals of any company. What are the four tests of the competitive power of a resource?The competitive power of a resource or capability is measured by how many of four specific tests it can pass. 4 These tests are referred to as the VRIN tests for sustainable competitive advantage—VRIN is a shorthand reminder standing for Valuable, Rare, Inimitable, and Nonsubstitutable. resource vs capability? What is competitive advantage in economics?What Is a Competitive Advantage? Competitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. How do the company's most important resources and capabilities create lasting competitive advantage?The firm’s resources and capabilities together form its distinctive competencies. These competencies enable innovation, efficiency, quality, and customer responsiveness, all of which can be leveraged to create a cost advantage or a differentiation advantage. How can resources offer a competitive advantage for an organization?The interconnection of resources and capabilities ability can benefit organizations. What constitutes “competitive advantage”? … Competitive advantage can be gained from adoption of advance technology, excellent service, low cost production, or selling of unique products. What is competitive benchmarking analysis?Competitive benchmarking is the process of comparing your company against a number of competitors using a set collection of metrics. This is used to measure the performance of a company and compare it to others over time. … It also is an important step of a competitive analysis. What does benchmarking mean in business?Benchmarking is a process that involves measuring the performance of your business against a competitor in the same market. This will give you a better understanding of your business performance and potential. When a company performs some activities truly well in comparison to competitors it is said to have?Competitive Advantage vs. A firm's ability to produce a good or service more efficiently than its competitors, which leads to greater profit margins, creates a comparative advantage. Rational consumers will choose the cheaper of any two perfect substitutes offered. When a company is good at performing a particular internal activity it is said to have a?a distinctive competence is a competitively relevant internal activity that a firm performs especially well relative to other internal activities, whereas a core competence is a competitively important activity performed by key strategic allies. When an activity becomes something a company has learned to perform proficiently and capably The company is said to have?When an activity becomes something a company has learned to perform proficiently and capably, the company is said to have: A. a competence. Which of the following is the best definition of a firm's distinctive competence?Distinctive competence refers to a superior characteristic, strength, or quality that distinguishes a company from its competitors. This distinctive quality can be just about anything—innovation, a skill, design, technology, name recognition, marketing, workforce, customer satisfaction, or even being first to market. When a company performs a competitively important activity?When a company has a proficiency in performing a strategically and competitively important value chain activity better than its rivals, it is said to have: a competitive advantage over rivals.
When a company performs some activities truly well in comparison to competitors it is said to have?Competitive Advantage vs.
A firm's ability to produce a good or service more efficiently than its competitors, which leads to greater profit margins, creates a comparative advantage. Rational consumers will choose the cheaper of any two perfect substitutes offered.
Is a proficiently performed internal activity?A core competence is a proficiently performed internal activity that is central to a company's strategy and is typically distinctive as well.
When a company is good at performing a particular internal activity it is said to have select one?a distinctive competence is a competitively relevant internal activity that a firm performs especially well relative to other internal activities, whereas a core competence is a competitively important activity performed by key strategic allies.
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When a company is good at performing a particular internal activity, it is said to have:
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