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Are You a Master of Disruptive Innovation?

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Are You a Master of Disruptive Innovation?

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Questions and Answers

What is the difference between tangible and intangible resources in terms of competitive advantage?

Intangible resources are used to produce goods and services while tangible resources are not

Tangible resources are easier for competitors to analyze and imitate than intangible resources

Tangible resources are more valuable than intangible resources

Intangible resources are deeply rooted in the firm's history and difficult for competitors to analyze and imitate while tangible resources can be seen and qualified (correct)

What are the four criteria for sustainable competitive advantage?

Valuable, unique, costly to imitate, substitutable

Valuable, rare, costly to imitate, nonsubstitutable (correct)

Valuable, rare, easy to imitate, nonsubstitutable

Valuable, common, costly to imitate, nonsubstitutable

What is the purpose of outsourcing for a firm?

To focus on areas in which it lacks competence (correct)

To reduce all costs associated with value-creating activities

To eliminate all non-core competencies

To expand its resources and capabilities

What is the main focus of open innovation?

External ideas Signup and view all the answers

What is the main challenge of open innovation?

Absorbing external resources Signup and view all the answers

What is the purpose of acquisitions in open innovation?

To expand the corporation's reach in foreign markets Signup and view all the answers

What are the three dimensions along which a firm can establish a competitive advantage in a specific product market?

The reach, richness, and affiliation of the firm's access and connection to customers Signup and view all the answers

Which of the following is NOT one of the types of business-level strategies?

Integrated market leadership Signup and view all the answers

What is the purpose of a business-level strategy?

To establish and exploit a particular competitive advantage within a particular competitive scope Signup and view all the answers