Exam 5: Developing Mission, Vision, and Values

Competing for the same customers and thus influenced by how customers value location and firm capabilities in their decisions is referred to as the market __________________.

_________________ is strategy as conceived of by the top management team and is the result of a process of negotiation, bargaining, and compromise.

When you can identify certain strengths that set an organization well apart from actual and potential competitors, that strength is considered a source of ______________ advantage.

Why does a differentiation strategy require a firm to give attention to costs?

Intense rivalries are common in industries with many companies.

_____________ include assets that are deeply rooted in the firm's history and have accumulated over time.

A(n) _______________ asset is a non-physical resource that provides gainful advantages in the marketplace.

Industries with many companies that have successfully differentiated their product have more rivalry.

It is important to note that the concept of strategy is relevant to only large, public companies like GE.

Can forms of competitive advantage be combined?

A firm's strategy includes which of the following:

_____________ include factors beyond the control of a firm that could place the strategy at risk.

The purpose of diversification is:

A(n) _______________ asset has a value and physically exists.

_______________ refers to the strategy where a firm's competitive advantage is based on the bet that it can develop, manufacture, and distribute products more efficiently than competitors.

Which of the following forms of diversification occurs when a firm operates multiple businesses within the same industry?

How has Walgreens used its core competencies to provide value to its customers?