Podcast
Questions and Answers
What is the main focus of the Strategic Management course?
What is the main focus of the Strategic Management course?
What does the resource-based model emphasize for explaining superior firm performance?
What does the resource-based model emphasize for explaining superior firm performance?
According to the text, what are considered critical assumptions for explaining superior firm performance in the resource-based model?
According to the text, what are considered critical assumptions for explaining superior firm performance in the resource-based model?
What does the resource-based model consider as 'all assets, capabilities, organizational processes, firm attributes, information and knowledge' controlled by a firm?
What does the resource-based model consider as 'all assets, capabilities, organizational processes, firm attributes, information and knowledge' controlled by a firm?
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Which concept within the resource-based model enables a firm to improve its efficiency and effectiveness?
Which concept within the resource-based model enables a firm to improve its efficiency and effectiveness?
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Who is the main author of the prepared course material according to the text?
Who is the main author of the prepared course material according to the text?
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Study Notes
Strategic Management Course
- The main focus of the Strategic Management course is on understanding the factors that contribute to superior firm performance.
Resource-Based Model
- The resource-based model emphasizes the role of a firm's internal resources and capabilities in explaining superior firm performance.
- The model considers critical assumptions for explaining superior firm performance, including:
- Heterogeneity: Firms possess different resources and capabilities.
- Imperfect mobility: Resources and capabilities are not easily transferable between firms.
- Ex ante limits to competition: Firms face limits to competition in acquiring and using resources.
Firm Resources and Capabilities
- The resource-based model considers 'all assets, capabilities, organizational processes, firm attributes, information and knowledge' controlled by a firm as its resources and capabilities.
Dynamic Capabilities
- The concept of dynamic capabilities within the resource-based model enables a firm to improve its efficiency and effectiveness by adapting, integrating, and reconfiguring its resources and capabilities to respond to changing environments.
Course Material Author
- The main author of the prepared course material is not specified in the text.
Studying That Suits You
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Description
Prepare for your Strategic Management course by testing your knowledge on environmental analysis in business strategy. This quiz covers the fit of strategy to a company's situation, as well as the STEEP analysis, as taught by Prof. Dr. Riham Adel at the College of Management and Technology.
