Business Strategy Exam 1

Liquidity Ratios {Ans: Short-term How easily assets can be turned into cash Ability of a firm to pay its bills over the short turn without undue stress}Bargaining Power of Suppliers {Ans: Of industry inputs to charge higher prices, reduce quality of purchased goods/services Factors influencing bargaining of suppliers mirror those of bargaining power of buyers}Eclectic {Ans: Plan: intention Ploy: smaller moves not part of overall strategy Pattern: repetition of acts over time Position: environment; fit between firm & environment Perspective: managers viewpoint; experience Intended-Deliberate-Realized Unrealized Emergente}Incorporates short term and long term {Ans: substantial resources difficult to reverse}Threat of Substitute Products and services {Ans: Substitutes perform similar or same functions as existing industry products but have different characteristics}Which of the following would be most difficult to assess? {Ans: The legitimacy and reputation of a firm.}