Chapter 2 CS
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Questions and Answers

What is the main goal of business-unit strategy?

  • To determine where to compete
  • To analyze industry effects
  • To determine how to compete (correct)
  • To analyze corporate effects

    • What does RBV help explain?

  • Corporate advantage across business units
  • Industry variance findings
  • Meta Analysis in Strategy Science
  • Competitive advantage in a single business sector (correct)

    • Based on Vanneste's Meta Analysis, which level exhibits the highest variance findings?

  • Corporate Headquarters
  • Business (correct)
  • Industry
  • Corporate

    • In the HACO Gruppe, which entity is located in Austria?

    <p>Gutschermühle GmbH</p> Signup and view all the answers

    What is the purpose of corporate strategy according to the text?

    <p>To determine where to compete</p> Signup and view all the answers

    What are some characteristics that make markets imperfect?

    <p>Limited number of market participants and asymmetric information</p> Signup and view all the answers

    Which model is often used to analyze competitor strengths according to the text?

    <p>Porter's 5-Forces model</p> Signup and view all the answers

    What are the generic strategies mentioned in the text as part of fulfilling strategic purposes?

    <p>Cost leadership and differentiation</p> Signup and view all the answers

    Which view emphasizes the importance of resources in achieving competitive advantage?

    <p>Resource-Based View</p> Signup and view all the answers

    In the formula y = f(x1, x2) mentioned in the text, what does x2 represent?

    <p>Internal determinants such as sectors</p> Signup and view all the answers

    What are some examples of core competencies mentioned in the text?

    <p>Wireless communications and Package tracking</p> Signup and view all the answers

    When investing in resources, what is emphasized to maintain a competitive edge?

    <p>Building and maintaining superior resources</p> Signup and view all the answers

    What is one key consideration when upgrading resources according to the text?

    <p>Strengthening existing resources and adding complementary ones</p> Signup and view all the answers

    How does the text suggest leveraging resources for strategic advantage?

    <p>Focusing, accumulating, and complementing resources strategically</p> Signup and view all the answers

    In the context of corporate strategy, what does 'concentration on resources' involve?

    <p>Dedicating resources to specific areas of strategic importance</p> Signup and view all the answers

    What does 'Resource picking/selecting' involve in the context of corporate strategy?

    <p>Identifying and selecting valuable resources</p> Signup and view all the answers

    Which of the following is NOT listed as a part of the functional areas in the context of corporate capabilities?

    <p>Marketing Sale</p> Signup and view all the answers

    In the context of corporate capabilities, what does 'Capability building' refer to?

    <p>Developing and strengthening organizational capabilities</p> Signup and view all the answers

    Which company is given as an example of having the capability in basic research?

    <p>Roche</p> Signup and view all the answers

    What is the significance of 'Disaggregation of the resources' in corporate strategy?

    <p>Identifying and separating different resources</p> Signup and view all the answers

    What is the main difference between a core competency and a distinctive competence?

    <p>Core competency is central to a company's strategy, while distinctive competence is competitively valuable.</p> Signup and view all the answers

    According to the Resource-based View (RBV), what can it explain?

    <p>Why some firms are more profitable than others</p> Signup and view all the answers

    Which type of resources are included in Liebherr's intangible resources?

    <p>Patents and corporate identity</p> Signup and view all the answers

    What distinguishes a competency from a core competency?

    <p>Core competencies are central to a company's strategy</p> Signup and view all the answers

    Why do firms possess both a competitive advantage in a single business unit and a corporate advantage extending across business units?

    <p>To achieve sustainability and competitiveness in different areas</p> Signup and view all the answers

    Which of the following is NOT considered an intangible asset in the context of corporate strategy?

    <p>Patents from 3M</p> Signup and view all the answers

    In the context of organizational capabilities, what would a firm pursuing a low-cost strategy focus on?

    <p>Improving manufacturing process efficiency</p> Signup and view all the answers

    Which of the following best defines an organizational capability?

    <p>A bundle of assets or resources to perform a business process</p> Signup and view all the answers

    What type of asset is Easyjet’s aircraft in the context of corporate strategy?

    <p>Tangible asset</p> Signup and view all the answers

    Which of the following best describes how capabilities are related to a firm's strategy?

    <p>Firms align capabilities with their strategy</p> Signup and view all the answers

    What is the focus of the resource-based view (RBV) in businesses?

    <p>Identifying and leveraging valuable resources</p> Signup and view all the answers

    Which term from the text refers to resources that are difficult for competitors to imitate?

    <p>Conservation of resources</p> Signup and view all the answers

    What concept is used to evaluate whether resources provide a competitive advantage based on value, rarity, inimitability, and organization?

    <p>VRIO Framework</p> Signup and view all the answers

    Which of the following is NOT a type of resource mentioned in the text?

    <p>Customer base</p> Signup and view all the answers

    In the context of corporate strategy, what is the primary focus of core competencies?

    <p>Developing unique strengths that create value</p> Signup and view all the answers

    What does the concept of 'Appropriability' in the VRIO framework refer to?

    <p>The ability to protect and capture value from resources</p> Signup and view all the answers

    Which aspect makes a resource valuable according to the text?

    <p>Being scarce, inimitable, non-substitutable, and valuable</p> Signup and view all the answers

    What is one of the criteria used to evaluate resources within the VRIO framework?

    <p>Organizational capabilities</p> Signup and view all the answers

    Which term describes the process of speeding up the return horizon of resources?

    <p>Resource recovery</p> Signup and view all the answers

    What do core products represent in the context of corporate strategy?

    <p>The main products a business offers in its portfolio</p> Signup and view all the answers

    _______ Strategy is determined by how to compete in a business unit.

    <p>Business-unit</p> Signup and view all the answers

    _______ Strategy is determined by where to compete across several business units.

    <p>Corporate</p> Signup and view all the answers

    RBV clarifies why a firm exhibits a competitive advantage in a single business sector and a corporate advantage that extends across several _______ units.

    <p>business</p> Signup and view all the answers

    _______ helps to exploit market inefficiency

    <p>Strategy</p> Signup and view all the answers

    Porter’s model of competitor strengths includes _______

    <p>5-Forces</p> Signup and view all the answers

    _______ positioning of a corporation relative to the competitors in a specific sector

    <p>External</p> Signup and view all the answers

    Resources and _______ View (VRIO)

    <p>Resource-Based</p> Signup and view all the answers

    _______ alignment of activities and investments (e.g., Marketing, R&D)

    <p>Internal</p> Signup and view all the answers

    One of the core competencies from Amazon is ______ management

    <p>logistic</p> Signup and view all the answers

    Corporate strategy involves investing in resources to build and maintain competitively superior ______

    <p>resources</p> Signup and view all the answers

    In corporate strategy, leveraging resources involves convergence, focus, and ______

    <p>target</p> Signup and view all the answers

    ___________ of the resources is crucial in corporate strategy.

    <p>Disaggregation</p> Signup and view all the answers

    One of the aspects of upgrading resources is adding ______ resources

    <p>complementary</p> Signup and view all the answers

    Identifying corporate ___________ is essential for strategic planning.

    <p>capabilities</p> Signup and view all the answers

    To achieve strategic advantage, firms must concentrate on resources, accumulate resources, and complement resources through linking with ______ factors

    <p>complementary</p> Signup and view all the answers

    ____________ building is a key aspect of resource deploying.

    <p>Capability</p> Signup and view all the answers

    Alphabet is known for its capability in ____________.

    <p>basic research</p> Signup and view all the answers

    The focus of the resource-based view (RBV) is on leveraging __________ for competitive advantage.

    <p>resources</p> Signup and view all the answers

    A competency is an internal capability that a company performs better than its other internal ______.

    <p>capabilities</p> Signup and view all the answers

    A core competency is a well-performed internal capability that is central to a company’s strategy, competitiveness, and ______.

    <p>profitability</p> Signup and view all the answers

    A distinctive competence is a competitively valuable capability that a company performs better than its ______.

    <p>rivals</p> Signup and view all the answers

    RBV can explain why one firm is different from another and what makes a competitive advantage ______.

    <p>sustainable</p> Signup and view all the answers

    RBV clarifies why a firm possesses a competitive advantage in a single business unit and a corporate advantage extending across business ______.

    <p>units</p> Signup and view all the answers

    ______ Assets include Coca-Cola's Coke recipe

    <p>Tangible</p> Signup and view all the answers

    A firm pursuing a differentiation strategy would focus on ______ product development

    <p>new</p> Signup and view all the answers

    Capabilities govern the efficiency of activities or quality of outputs, which are usually considered as a 'bundle' of assets or resources to perform a business ______

    <p>process</p> Signup and view all the answers

    RBV clarifies why a firm exhibits a competitive advantage in a single business sector and a corporate advantage that extends across several ______ units

    <p>business</p> Signup and view all the answers

    Resource-based view (RBV) emphasizes the importance of resources in achieving ______ advantage

    <p>competitive</p> Signup and view all the answers

    ______ of resources: recycling and co-optation (hard to imitate)

    <p>Conservation</p> Signup and view all the answers

    Components of Internal (Resource) Analysis Competitive advantage (distinctive competence) Core competencies Resources Tangible Intangible ______ Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale

    <p>Capabilities</p> Signup and view all the answers

    After today’s session you will be able to answer the following questions: The meaning of the resource-based view (RBV) for businesses. What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to ______ strategy?

    <p>corporate</p> Signup and view all the answers

    Learning Objectives After today’s session you will be able to answer the following questions: The meaning of the resource-based view (RBV) for businesses. What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to ______ strategy?

    <p>corporate</p> Signup and view all the answers

    What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to corporate ______?

    <p>strategy</p> Signup and view all the answers

    What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to ______ strategy?

    <p>corporate</p> Signup and view all the answers

    ______ and Rents

    <p>Resources</p> Signup and view all the answers

    The Roots of Competitiveness End Products 1 2 3 Business 1 Business 2 Business 3 Business 4 Core Product 2 Core Product 1 Competence 1 Competence 2 Competence 3 Competence 4 (Prahalad and Hamel, HBR, 1990, p.81) © Artur Baldauf l Department of Management & Entrepreneurship l University of Bern Corporate Strategy 31 Components of Internal (Resource) Analysis Competitive advantage (distinctive competence) Core competencies ______ Tangible Intangible Capabilities Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale

    <p>Resources</p> Signup and view all the answers

    Resources ______ Capabilities Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale

    <p>Tangible</p> Signup and view all the answers

    Resources Tangible Intangible ______ Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale

    <p>Capabilities</p> Signup and view all the answers

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