Strategic Management: Porter and Penrose's Theories
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Questions and Answers

What is the primary focus of Porter's work?

  • Competitive strategy and industry analysis (correct)
  • Transaction cost economics and governance structures
  • Organizational theory and economic principles
  • Dynamic capabilities and intangible resources

    • Which of the following researchers is associated with the concept of dynamic capabilities?

  • Porter
  • Coase and Williamson
  • Penrose (correct)
  • All of the above

    • What is the main concern of transaction cost economics?

  • Evaluating the role of intangible resources in strategy formulation
  • Examining the choice of governance structures and outsourcing (correct)
  • Analyzing industry attractiveness and competitive intensity
  • Developing effective strategies for competitive advantage

    • What is the purpose of Porter's five forces framework?

    <p>To evaluate the industry attractiveness and competitive intensity</p> Signup and view all the answers

    Which researcher is known for combining theoretical analysis with empirical research?

    <p>Porter</p> Signup and view all the answers

    What is the primary concern of Penrose's work?

    <p>Evaluating the role of intangible resources and dynamic capabilities in strategy</p> Signup and view all the answers

    What is the primary focus of Ansoff's approach to strategic management?

    <p>Conceptual frameworks and models for strategic decision-making</p> Signup and view all the answers

    What are the three levels of action identified by Ansoff in his book Corporate Strategy?

    <p>Operational, Administrative, and Strategic</p> Signup and view all the answers

    What is the primary focus of Penrose's resource-based view of the firm?

    <p>Internal resources and capabilities in driving competitive advantage</p> Signup and view all the answers

    What is one of the five strategic decisions identified by Ansoff?

    <p>Make or buy decisions</p> Signup and view all the answers

    What is the purpose of the Ansoff matrix?

    <p>To categorize strategies for growth into four categories</p> Signup and view all the answers

    What is a key aspect of a company's strategy?

    <p>Doing what rival firms don't do or can't do</p> Signup and view all the answers

    On how many levels does a company's strategy provide direction and guidance?

    <p>3 levels</p> Signup and view all the answers

    What is the focus of the strategic level of action identified by Ansoff?

    <p>The organization's relation with its environment</p> Signup and view all the answers

    What is a key goal of a company's strategy?

    <p>To appeal to buyers in ways that set the company apart</p> Signup and view all the answers

    Why does mimicking successful industry rivals' strategies rarely work?

    <p>Because it lacks a distinctive element</p> Signup and view all the answers

    What should a company's strategy aim to do in terms of market position?

    <p>Stake out a market position that is not crowded with strong competitors</p> Signup and view all the answers

    What does a company's strategy need to do to succeed?

    <p>Appeal to buyers in ways that set the company apart from its rivals</p> Signup and view all the answers

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