Strategy

___% of firms success is explained by industry structure

What are the internal drivers of strategy?

Resource integration

Porter's 5 forces

Resources & Capabilities, Value Chain activities

Modular Integration

A dynamic capability is...

Adapting competences/capabilities in reaction to environmental change

Input to a firms production process

Part of internal analysis

A core rigidity

All resources and capabilities are a source of competitive advantage.

True

False

Please identify an example of a tangible resource.

"Tricks of trade"

Capabilities

Labor

Human resource management

Which of the following is NOT an assumption of the resourced based view.

Resources and capabilities must create value

Firm create competitive advantage when it implements strategy that is not easily duplicated or costly to imitate

Resources and capabilities are source of firms competitive advantage

External factors influence firm strategy

Which of the following is an example of a resource or capability that is inimitable, according to the VRIN model?

Relationships with suppliers and customers

Allows firm to exploit opportunities

Neutralizes threats

No strategic equivalent resources

The VRIN model indicates whether a resource or capability is....

Attainable

A source of above average returns

A source of sustained competitive advantage

A core competency

Porter's value chain intends to....

Find competitive advantage in core rigidities

Asses what combination of creates value and which do not

Gather data on firms market position

Identify strengths, weakness, opportunities and threats

SWOT is an....

Narrow approach to internal analysis

Narrow approach to external analysis

Dynamic analysis

Broad approach to internal and external analysis

Because of diminishing financial returns of internal resources companies should no longer...

Innovate internally at all

Outsource

Only innovate internally

Integrate resources

Which is NOT a point of resource integration?

Fitting new knowledge into an existing frame

Mutually beneficial combination of external and internal resources

Technological development

Internalisation

A gas and an electric company sharing a marketing department is an example of...

Modular integration

Stable integration

Resource integration

Dynamic integration

Dynamic integration is....

Purposeful selection of resources that are better sourced externally

Firms select and internalise resources without changing new combination

Process over time with the intention to continuously refresh between organisational members and external people

Agreements between two or more parties

NIH is a concept that stands for....

Not Invented here

No integration hindered

No innovation hindered

Non Imitable

Strategy

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