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Questions and Answers
Dynamic capabilities involve considering changes in which of the following?
Dynamic capabilities involve considering changes in which of the following?
- Organizational structure, financial resources, and customer base
- Product design, distribution channels, and promotional strategies
- Environment, technology, and market conditions (correct)
- Employee satisfaction, workplace culture, and leadership styles
In the context of the resource-based perspective, what does strategic management emphasize?
In the context of the resource-based perspective, what does strategic management emphasize?
- Corporate mission and business sectors
- Key resources and core competencies (correct)
- Technological advancements and global competition
- Market trends and consumer behavior
What does the text suggest is necessary for a firm's opportunities to be significantly enhanced?
What does the text suggest is necessary for a firm's opportunities to be significantly enhanced?
- Product innovation, customer loyalty, and operational efficiency
- Financial resources, government support, and industry connections
- Technology, market opportunity, and organizational skills (correct)
- Strategic alliances, legal expertise, and brand reputation
What can technology alone not deliver?
What can technology alone not deliver?
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What does the text suggest is a significant shift within the resource-based perspective?
What does the text suggest is a significant shift within the resource-based perspective?
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Study Notes
Dynamic Capabilities
- Dynamic capabilities involve considering changes in the external environment, a firm's resources, and its capabilities.
Resource-Based Perspective
- Strategic management emphasizes the role of a firm's internal resources and capabilities in determining its competitiveness and performance.
Enhancing Opportunities
- A firm's opportunities can be significantly enhanced by reconfiguring and redeploying its existing resources and capabilities.
Limitations of Technology
- Technology alone cannot deliver sustainable competitive advantage or strategic renewal.
Shift in Resource-Based Perspective
- There is a significant shift within the resource-based perspective, from a focus on the possession of resources to a focus on the dynamic capabilities that enable a firm to adapt and innovate in response to changing market conditions.
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