Geb4890 Exam 1 With Correct Answers

Customer Value Proposition is most attractive when price (P) is {Ans: Lower}Defensive Strategies {Ans: -Actions to block challengers -Actions to signal the likelihood of strong retaliation}Core competence {Ans: Is a proficiently performed internal activity that is central to a firm's strategy and competitiveness}VRIN Test {Ans: Valuable, Rare, Inimitable, and Non-substitutable.}Strategic Management Process {Ans: 1. Developing a strategic vision 2. Setting objectives 3. Crafting a strategy 4. Executing the chosen strategy 5. Monitoring developments, evaluating performance, and imitating corrective adjustments}DEF: resources and capabilities {Ans: assists to a company}