16 Questions
What are the components of strategic capabilities as described in the text?
Resources and competencies
Which type of capabilities are means by which an organization has the ability to recreate and renew strategic capabilities to meet the needs in a changing environment?
Dynamic capabilities
Which activity involves constantly scanning and exploring new opportunities across markets and technologies?
Sensing capabilities
What does seizing capabilities involve?
Addressing opportunities through new products, processes, and activities
What are the generic dynamic capabilities described in the text?
Sensing and seizing capabilities
What are the specific examples of dynamic capabilities provided in the text?
55 000 engineers learning new skills
What are distinctive capabilities or unique capabilities?
Capabilities required for an organisation to compete in a given market
What is the difference between 'explicit' knowledge and 'tacit' knowledge?
Explicit knowledge is hard to formalize and communicate, while tacit knowledge can be easily transferred.
What does benchmarking mean?
Comparing an organization's performance against its competitors' standards of product or service
What are threshold capabilities?
Capabilities that are needed for an organisation to meet the necessary requirements to compete in a given market
What are core competences?
Links between distinctive capabilities deriving from resources, skills & activities that bundle together to bring a competitive advantage
What is organization knowledge?
The collective intelligence specific to an organization
What is best in class benchmarking?
Comparing an organization's performance against the highest standards in the industry
What are the characteristics of tacit knowledge?
Hard to formalize and communicate
What is explicit knowledge?
Transmitted in formal systematic ways
What can core competencies deliver?
Extra value to customer and differentiation from competitors
Test your knowledge of strategic capabilities, resources, competencies, and dynamic capabilities in organizations. Understand the components that contribute to an organization's long-term survival and competitive advantage.
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