Podcast
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?
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?
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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Description
Test your knowledge of innovation management and new product development with this quiz on turning technology into business. Explore the importance of managing organizational knowledge and technology trajectories in achieving business success.
