Mastering Competitive Advantage

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Questions and Answers

What are the two sources of sustainable competitive advantage mentioned in the text?

Strategic positioning and technological innovation (correct)

Strategic partnerships and customer loyalty

Operational efficiency and technological advances

Operational effectiveness and strategic alliances

What are the different types of innovation mentioned in the text?

Product, process, value, management/organizational, and service

Product, process, value, management/organizational, service, and innovation in industry structure (correct)

Product, process, value, and service

Product, process, and service

What are the two sources of sustainable competitive advantage?

Advertising and marketing

Customer service and product quality

Price and distribution

Operational effectiveness and strategic positioning (correct)

How does the internet impact industry structure and sustainable competitive advantage?

It impacts both industry structure and sustainable competitive advantage Signup and view all the answers

What influences industry structure and sustainable competitive advantage?

The internet Signup and view all the answers

What are the levels of innovation mentioned in the text?

Sustaining, incremental, radical, and disruptive Signup and view all the answers

How many sources of competitive pressure does the profitability of an industry rely on?

5 Signup and view all the answers

How many sources of competitive pressure does the profitability of an industry rely on?

5 Signup and view all the answers

What is the difference between radical and disruptive innovations?

Radical innovations change the basis of competition, while disruptive innovations underperform established products. Signup and view all the answers

What perspective does adopting a network provide?

An alternative perspective Signup and view all the answers

What does adopting a network perspective provide?

An alternative perspective Signup and view all the answers

What is the Innovator's Dilemma?

The dilemma faced by market leaders when technologies and industries change Signup and view all the answers

What is necessary for successful innovation?

Understanding technology, customers, industry structure, and ability to execute Signup and view all the answers

What is driving the emergence of new business models?

Globalization and new technology Signup and view all the answers

What is driving the emergence of new business models?

Globalization and new technology Signup and view all the answers

What are the three components of strategic advantage?

Dynamic specialization, connectivity and coordination, and leverage capability building Signup and view all the answers

What are the three elements that create strategic advantage?

Dynamic specialization, connectivity and coordination, and leverage capability building Signup and view all the answers

What are the mechanisms for building capabilities faster?

Global sourcing, loose coupling, and unproductive collaboration Signup and view all the answers

What are the mechanisms for building capabilities faster?

Global sourcing, loose coupling of extended, and productive collaboration Signup and view all the answers

Study Notes

Sustainable competitive advantage comes from operational effectiveness or strategic positioning.
The internet influences industry structure and sustainable competitive advantage.
Profitability of an industry relies on 5 sources of competitive pressure.
Adopting a network perspective provides an alternative perspective.
New business models are emerging in response to globalization and new technology.
Strategic advantage is created through dynamic specialization, connectivity and coordination, and leverage capability building.
Mechanisms for building capabilities faster include global sourcing, loose coupling of extended, and productive collaboration.
Position within the network can be specialist, integrator, or platform.
Business Model Innovation is valuable in times of instability.
Three game-changing moves and five potential failures for Business Model Innovation are identified.

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Description

Are you looking to sharpen your knowledge of business strategy and gain a competitive edge? Take our quiz and explore key concepts such as sustainable competitive advantage, industry structure, and business model innovation. Learn how adopting a network perspective can provide new insights and discover the mechanisms for building capabilities faster. With 10 thought-provoking questions, test your understanding of strategic positioning and the potential pitfalls of new business models. Enhance your strategic thinking skills and stay ahead of the game with this informative quiz.