Capstone Exam 2 V1 (New 2024/ 2024 Update) Questions And Verified Answers| 100% Correct| Graded A

stuck in the middle (past) {Ans: firms that do not make a choice between (1) selling high-priced products and gaining small market share (product differentiation); or (2) selling low-priced products and gaining large market share (cost leadership)}Business level strategies: {Ans: actions firms take to gain competitive advantages in a single market or industry (product differentiation, flexibility, collusion)}Compensation policies {Ans: i. Reward for cost reduction ii. Incentives for all employees to be involved in cost reduction}product features {Ans: *Low-cost duplication usually possible i. History: not likely to be a source of costly duplication ii. Uncertainty: not likely to be a source of costly duplication iii. Social complexity: not likely to be a source of costly duplication}product complexity {Ans: *May be costly to duplicate i. History: somewhat likely to be a source of costly duplication ii. Uncertainty: not likely to be a source of costly duplication iii. Social complexity: somewhat likely to be a source of costly duplication}Rare: {Ans: i. Learning curve economies of scale (especially in emerging businesses) ii. Differential low-cost access to productive inputs iii. Technological "software"}technological software {Ans: the quality of labor-management relations, an organizations culture, and the quality of managerial controls