78 Questions
What is the main goal of business-unit strategy?
To determine how to compete
What does RBV help explain?
Competitive advantage in a single business sector
Based on Vanneste's Meta Analysis, which level exhibits the highest variance findings?
Business
In the HACO Gruppe, which entity is located in Austria?
Gutschermühle GmbH
What is the purpose of corporate strategy according to the text?
To determine where to compete
What are some characteristics that make markets imperfect?
Limited number of market participants and asymmetric information
Which model is often used to analyze competitor strengths according to the text?
Porter's 5-Forces model
What are the generic strategies mentioned in the text as part of fulfilling strategic purposes?
Cost leadership and differentiation
Which view emphasizes the importance of resources in achieving competitive advantage?
Resource-Based View
In the formula y = f(x1, x2) mentioned in the text, what does x2 represent?
Internal determinants such as sectors
What are some examples of core competencies mentioned in the text?
Wireless communications and Package tracking
When investing in resources, what is emphasized to maintain a competitive edge?
Building and maintaining superior resources
What is one key consideration when upgrading resources according to the text?
Strengthening existing resources and adding complementary ones
How does the text suggest leveraging resources for strategic advantage?
Focusing, accumulating, and complementing resources strategically
In the context of corporate strategy, what does 'concentration on resources' involve?
Dedicating resources to specific areas of strategic importance
What does 'Resource picking/selecting' involve in the context of corporate strategy?
Identifying and selecting valuable resources
Which of the following is NOT listed as a part of the functional areas in the context of corporate capabilities?
Marketing Sale
In the context of corporate capabilities, what does 'Capability building' refer to?
Developing and strengthening organizational capabilities
Which company is given as an example of having the capability in basic research?
Roche
What is the significance of 'Disaggregation of the resources' in corporate strategy?
Identifying and separating different resources
What is the main difference between a core competency and a distinctive competence?
Core competency is central to a company's strategy, while distinctive competence is competitively valuable.
According to the Resource-based View (RBV), what can it explain?
Why some firms are more profitable than others
Which type of resources are included in Liebherr's intangible resources?
Patents and corporate identity
What distinguishes a competency from a core competency?
Core competencies are central to a company's strategy
Why do firms possess both a competitive advantage in a single business unit and a corporate advantage extending across business units?
To achieve sustainability and competitiveness in different areas
Which of the following is NOT considered an intangible asset in the context of corporate strategy?
Patents from 3M
In the context of organizational capabilities, what would a firm pursuing a low-cost strategy focus on?
Improving manufacturing process efficiency
Which of the following best defines an organizational capability?
A bundle of assets or resources to perform a business process
What type of asset is Easyjet’s aircraft in the context of corporate strategy?
Tangible asset
Which of the following best describes how capabilities are related to a firm's strategy?
Firms align capabilities with their strategy
What is the focus of the resource-based view (RBV) in businesses?
Identifying and leveraging valuable resources
Which term from the text refers to resources that are difficult for competitors to imitate?
Conservation of resources
What concept is used to evaluate whether resources provide a competitive advantage based on value, rarity, inimitability, and organization?
VRIO Framework
Which of the following is NOT a type of resource mentioned in the text?
Customer base
In the context of corporate strategy, what is the primary focus of core competencies?
Developing unique strengths that create value
What does the concept of 'Appropriability' in the VRIO framework refer to?
The ability to protect and capture value from resources
Which aspect makes a resource valuable according to the text?
Being scarce, inimitable, non-substitutable, and valuable
What is one of the criteria used to evaluate resources within the VRIO framework?
Organizational capabilities
Which term describes the process of speeding up the return horizon of resources?
Resource recovery
What do core products represent in the context of corporate strategy?
The main products a business offers in its portfolio
_______ Strategy is determined by how to compete in a business unit.
Business-unit
_______ Strategy is determined by where to compete across several business units.
Corporate
RBV clarifies why a firm exhibits a competitive advantage in a single business sector and a corporate advantage that extends across several _______ units.
business
_______ helps to exploit market inefficiency
Strategy
Porter’s model of competitor strengths includes _______
5-Forces
_______ positioning of a corporation relative to the competitors in a specific sector
External
Resources and _______ View (VRIO)
Resource-Based
_______ alignment of activities and investments (e.g., Marketing, R&D)
Internal
One of the core competencies from Amazon is ______ management
logistic
Corporate strategy involves investing in resources to build and maintain competitively superior ______
resources
In corporate strategy, leveraging resources involves convergence, focus, and ______
target
___________ of the resources is crucial in corporate strategy.
Disaggregation
One of the aspects of upgrading resources is adding ______ resources
complementary
Identifying corporate ___________ is essential for strategic planning.
capabilities
To achieve strategic advantage, firms must concentrate on resources, accumulate resources, and complement resources through linking with ______ factors
complementary
____________ building is a key aspect of resource deploying.
Capability
Alphabet is known for its capability in ____________.
basic research
The focus of the resource-based view (RBV) is on leveraging __________ for competitive advantage.
resources
A competency is an internal capability that a company performs better than its other internal ______.
capabilities
A core competency is a well-performed internal capability that is central to a company’s strategy, competitiveness, and ______.
profitability
A distinctive competence is a competitively valuable capability that a company performs better than its ______.
rivals
RBV can explain why one firm is different from another and what makes a competitive advantage ______.
sustainable
RBV clarifies why a firm possesses a competitive advantage in a single business unit and a corporate advantage extending across business ______.
units
______ Assets include Coca-Cola's Coke recipe
Tangible
A firm pursuing a differentiation strategy would focus on ______ product development
new
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 ______
process
RBV clarifies why a firm exhibits a competitive advantage in a single business sector and a corporate advantage that extends across several ______ units
business
Resource-based view (RBV) emphasizes the importance of resources in achieving ______ advantage
competitive
______ of resources: recycling and co-optation (hard to imitate)
Conservation
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
Capabilities
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?
corporate
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?
corporate
What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to corporate ______?
strategy
What are „valuable“ resources and where do they come from? How resources and capabilities are relevant to ______ strategy?
corporate
______ and Rents
Resources
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
Resources
Resources ______ Capabilities Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale
Tangible
Resources Tangible Intangible ______ Criteria Value Chain Scarcity, Feasability, Appropriability (or VRIO) Integration Out-sourcing Sale
Capabilities
Resources and rents
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
