In the GE model, business position shows how well an organization is positioned to capture market opportunities by answering all of the following questionsEXCEPTa. Are its financial resources adequate?b. Does the firm have the technology needed to penetrate the market?c. Can manufacturing costs be held down below those of the competition?d. Is there a lack of government regulation?

Business strategy is an exhaustive arrangement that frames an association's objectives and targets,…

Answered: In the GE model, business position…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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A company's strategic options for internally performed value chain activities do not include: A) implementing the use of best practices, particularly for high-cost activities. B) switching to activity-based costing. C) investing in productivity-enhancing, cost-saving technological improvements. D) revamping its value chain to eliminate or bypass some cost-producing activities (particularly low value-added activities). E) outsourcing the performance of high-cost activities to vendors that can perform them more cheaply.
5. Maximizing the profitability of a company’s business model is about making the right choices concerning value creation through generic business-level strategies, given the demand and competitive conditions the company faces. There are several generic business-level strategies. Briefly describe TWO generic business-level strategies, using two examples in Trinidad and Tobago to support your answer. A complete answer will identify the generic business-level strategy as defined by Michael Porter and use an example from a locally operating company in Trinidad and Tobago, to support the explanation.
Which of the following statements BEST describes the Gartner’s ‘Magic Quadrant’? Helps businesses understand their current and future competitive landscapes. Helps businesses get a clear picture about their strong points and weak points relative to their competitors. Helps businesses prioritize and strategize your business investments among smaller business units. Helps businesses analyze and represent a particular product/market/industry in terms of their ability to deliver based on their vision.
A company makes souvenir spoons to order for customers. Customers may choose the size of the spoons as well as the pattern that will be embossed on them. You can order one or more spoons. The company is thinking about getting into the make-to-stock spoon market for souvenir spoons as well as daily tableware. What would it be needed to do differently? What changes are likely to occur in the business?
Discuss Value Chain Management by addressing the following: What are the total costs associated with producing and shipping a pair of slim-fit denim jeans to the end customer and how much is their profit? How does their “radical transparency” strategy help them compete?
The following question is for a market analysis of a hypothetical online tutoring business. Answer the following questions about the online tutoring market: Industry Characteristics: What are the specific characteristics of the industry? Who are the main participants, at a high level? Customers, suppliers, competitors? Stability: Comment on how stable the industry has been historically and how dynamic it is currently. Serviceable Available Market (SAM): Market Segments: What are the main segments or groupings that could be defined from the overall industry? How do you categorize them: geography, customer demographics, ethnicity, age, type of business, prospective business customer type, etc.? Market Segmentation: This section is where you will define the main market segments as well as the one or two you will be targeting. Begin with the Total Available Market (TAM) within the industry you plan to compete for. This includes all types of customers that have an interest in or…
Over the years the Government has established a NIT, IIT, AIIMS, IISER, IIM in each state. In this context, using similar examples discuss: - > Role of External Labor Market in successful execution of strategy. > Role of Brand Capability in successful execution of strategy.
TRUE OR FALSE? Selecting the best alternative always depends on the economy under study, rather than the total costs.
. Since we now understand that the acronym VRIO stands for 4 four major parts in a structured approach to competitive advantage; these are Valuable, Rare, Imitable, and organized. All play an integral role in helping us managers understand, identify, and evaluate resources. In your own words, how do you think the VRIO Analysis is used to identify, exploit, and evaluate competitive advantage.?
For the strength and opportunities listed below. Create one section for matching strengths to opportunities. Discuss how the company can use the strengths to capitalize on the opportunities. You should discuss every single identified opportunity. Strength: It has a solid foundation of trustworthy raw material suppliers, allowing the business to get around any supply chain bottleneck Neiman Marcus products have a consistent level of quality due to the successful automation, which also allows the business to scale up and down in response to market demand. Neiman Marcus Group also developed a solid distribution network through time that can cover most of its prospective market. Opportunities: Less inflation makes the market more stable and makes it possible for Neiman Marcus Group consumers to obtain loans at cheaper interest rates. The business has made significant financial investments into the web platform over the last few years. With this investment, Neiman Marcus Group now has…
The table below shows the monthly cost of producing vintage model cars for collectors. Instructions: Enter your answers as a whole number. Fill in the missing values for total fixed cost, total variable cost, and total cost in the table below. Vintage Model Car Production Costs Total Fixed Cost (dollars) (dollars) $1,000 Output Total Variable Cost (dollars) Total Cost 0 $1,000 $0 100 800 200 300 1,300 3,300 400 3,300
Answer the following questions using the Answer Report and the Sensitivity Report on the following page. Support your answers with explanations and the work showed.Your run a company that produces three electrical products – clocks, radios, and toasters. You are asked to figure out how many of each of these things should be produced, and the computer solution (answer report and sensitivity report generated in Microsoft Excel) is given on the next page. 4.) If you could sell clocks for $17 instead of $15 would it change the number of each appliance you should produce (i.e., would it change the optimal solution)?5.) If you had your choice of an extra $10 in your budget or an added demand of 5 toasters, which one should you do, and how will your profit be affected?

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