Strategic Management
4th Edition
ISBN: 9781259927621
Author: Frank T. Rothaermel The Nancy and Russell McDonough Chair; Professor of Strategy and Sloan Industry Studies Fellow
Publisher: McGraw-Hill Education
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Chapter 4, Problem 3MS
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To answer: The given questions.
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What is more important for a firm–profit maximization or value maximization? What issues or conflict of interest can come up between owners and managers and how can they be solved?
Describe the core competencies a firm possesses and what it needs. What are the core competencies of your organization? Explain your answer.
Reflect on your experience in this course. What do you consider as, potentially, the most important elements when working to improve an organization’s competitive advantage and create value for all stakeholders?
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- Identify two current organizations—one organization facing a low-risk competitive environment and one facing a high-risk competitive environment. For each of these organizations, explain why you have evaluated its competitive environment as either low risk or high risk, using strategic planning and analysis concepts (such as Porter's Five Forces Model) For each of these organizations, recommend a pairing of a system design tool and a system operation tool that you believe will work especially well in the competitive environment faced by the organization. Be sure to explain why the tools you have chosen are uniquely suited to the competitive environment faced by that organization.arrow_forwardA competitive strategy identifies how to build and strengthen the business’s long-term competitive position in the marketplace. If your school assigned you to decide the competitive strategy, which of the three strategies will you choose and give your opinion to support your argument?arrow_forward1- What are core competencies of companies? GIVE EXAMPLE 2- What role do dynamic capabilities play in the ability of companies to create competitive advantage in rapidly changing environments? GIVE EXAMPLES PLEASEarrow_forward
- How do the five competitive forces in Porter’s five forces model affect the average profitability of the industry? For example, in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits? Identify an industry in which many of the competitors seem to be having financial performance problems. Which of the five forces seem to be strongest?arrow_forwardCritically review the theories of competitive advantage and evaluate their relevance to management.arrow_forwardWhat are the reasons why Business firms or companies compete poorly? NOTE: Please based the answer in the given lesson belowarrow_forward
- A company's competitive strategy should A) be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies. B) be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers. C) ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves. D) be aligned toward being at least an average performer within the industry. have the resources and capabilities to incorporate standard attributes into its product offering.arrow_forwardHow does an organization achieve a competitive advantage?arrow_forwardWhat is the relevance of the resources and capabilities of an organization in enabling competitive advantage?arrow_forward
- hat are the key reasons for the poor competitiveness of some companies?arrow_forwardThe resourced-based view of the firm identifies four criteria that managers can use to evaluate whether particular resources and capabilities are core competencies and can, therefore, provide a basis for sustainable competitive advantage. Are these measures independent or interdependent? Explain. If some of the measure are interdependent, what implications does that fact have for managers wanting to create and sustain a competitive advantage?arrow_forwardA profitable company will make it a point to determine how its competitors are doing business and try to do it better themselves. Benchmarking is one of the most effective tools available to an organization to ensure that these goals are being met. Many organizations use benchmarking as a way to measure organizational performance. What are the pros and cons of this approach? Has this approach always been used as a competitive tool? Provide at least two examples of companies using this type of tool to help them remain competitive within their market.arrow_forward
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