18 Questions
What is the primary focus of Porter's work?
Competitive strategy and industry analysis
Which of the following researchers is associated with the concept of dynamic capabilities?
Penrose
What is the main concern of transaction cost economics?
Examining the choice of governance structures and outsourcing
What is the purpose of Porter's five forces framework?
To evaluate the industry attractiveness and competitive intensity
Which researcher is known for combining theoretical analysis with empirical research?
Porter
What is the primary concern of Penrose's work?
Evaluating the role of intangible resources and dynamic capabilities in strategy
What is the primary focus of Ansoff's approach to strategic management?
Conceptual frameworks and models for strategic decision-making
What are the three levels of action identified by Ansoff in his book Corporate Strategy?
Operational, Administrative, and Strategic
What is the primary focus of Penrose's resource-based view of the firm?
Internal resources and capabilities in driving competitive advantage
What is one of the five strategic decisions identified by Ansoff?
Make or buy decisions
What is the purpose of the Ansoff matrix?
To categorize strategies for growth into four categories
What is a key aspect of a company's strategy?
Doing what rival firms don't do or can't do
On how many levels does a company's strategy provide direction and guidance?
3 levels
What is the focus of the strategic level of action identified by Ansoff?
The organization's relation with its environment
What is a key goal of a company's strategy?
To appeal to buyers in ways that set the company apart
Why does mimicking successful industry rivals' strategies rarely work?
Because it lacks a distinctive element
What should a company's strategy aim to do in terms of market position?
Stake out a market position that is not crowded with strong competitors
What does a company's strategy need to do to succeed?
Appeal to buyers in ways that set the company apart from its rivals
This quiz covers the theoretical contributions of Edith Penrose and Michael Porter to the field of strategic management, including their approaches to competitive strategy and firm performance.
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