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Test Your Knowledge on Building Competitive Advantage in the Global Arena

5 Questions

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Test Your Knowledge on Building Competitive Advantage in the Global Arena

Created by

@PlushSugilite

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Questions and Answers

What are the three positions within the network?

Leader, follower, and collaborator

Strategist, planner, and executor

Specialist, integrator, and platform (correct)

Coordinator, analyst, and manager

What is the advantage of the long tail strategy?

It allows companies to earn profits by selling low volumes of hard-to-find items to many customers. (correct)

It allows companies to earn profits by selling low volumes of popular items to many customers.

It allows companies to earn profits by selling high volumes of popular items to a few customers.

It allows companies to earn profits by selling high volumes of hard-to-find items to a few customers.

What is the advantage in the new global arena?

Fast delivery and flexible manufacturing

High volume and low prices

Intellectual capital and specialization of capabilities (correct)

Low cost and mass production

What does global sourcing do?

<p>Seeks out specialized capabilities wherever they reside</p> Signup and view all the answers

What does loose coupling of extended business processes use?

<p>Modular design and management techniques</p> Signup and view all the answers

Study Notes

Competitive advantage is created through dynamic specialization, connectivity and coordination, and leverage capability building.
Mechanisms for building capabilities faster include global sourcing, loose coupling of extended business processes, and productive collaboration.
Position within the network can be specialist, integrator, or platform.
Platforms generate direct and indirect network effects.
The long tail strategy allows companies to earn profits by selling low volumes of hard-to-find items to many customers.
Niche products create a new market as big as the mass market.
The advantage in the new global arena is intellectual capital and specialization of capabilities.
Global sourcing is used to seek out specialized capabilities wherever they reside.
Loose coupling of extended business processes uses modular design and management techniques.
Productive collaboration creates suitable settings for people with diverse and appropriate specializations to creatively resolve difficult business issues.

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Description

Are you familiar with the key concepts of building competitive advantage in today's global marketplace? Test your knowledge with this quiz! From dynamic specialization to productive collaboration, this quiz covers important mechanisms for building capabilities faster and creating direct and indirect network effects. Discover the benefits of platforms, the long tail strategy, and niche products, and learn how global sourcing and loose coupling of extended business processes can enhance your company's intellectual capital and specialization of capabilities. Take this quiz to see how well you understand the latest strategies for