6 Questions
What is the main focus of the Strategic Management course?
Environmental Analysis
What does the resource-based model emphasize for explaining superior firm performance?
Firm Resources
According to the text, what are considered critical assumptions for explaining superior firm performance in the resource-based model?
Environmental Analysis and Firm Resources
What does the resource-based model consider as 'all assets, capabilities, organizational processes, firm attributes, information and knowledge' controlled by a firm?
Firm Resources
Which concept within the resource-based model enables a firm to improve its efficiency and effectiveness?
Firm Resources
Who is the main author of the prepared course material according to the text?
Prof. Dr. Riham Adel
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.
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.
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