Business Strategy Concepts
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Questions and Answers

Which term refers to the value added to the original product offering when used together?

  • Strategic commitments
  • Complement (correct)
  • Exit barriers
  • Network effects
  • What framework categorizes external factors such as political, economic, and technological that can impact a firm?

  • Five forces model
  • PESTEL model (correct)
  • Mobility barriers
  • Firm effects
  • What is the term used to describe cooperation among competitors to achieve a strategic objective?

  • Entry barriers
  • Industry analysis
  • Strategic group
  • Co-opetition (correct)
  • What are obstacles that determine how easily a firm can leave an industry known as?

    <p>Exit barriers</p> Signup and view all the answers

    Which term refers to industry-specific factors that separate one strategic group from another?

    <p>Mobility barriers</p> Signup and view all the answers

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