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When a resource or capability is valuable rare costly to imitate and nonsubstitutable firms may obtain?
complex competitive advantage
What is the relevance of the resource based view of the firm to strategic management in global environment?
The resource-based view (RBV) of the firm is crucial to strategic management in a global environment as it emphasizes the importance of a firm's internal resources and capabilities as sources of competitive advantage. In an increasingly interconnected world, firms must leverage unique resources—such as technology, brand equity, or skilled labor—to differentiate themselves from global competitors. RBV encourages firms to assess and develop their distinctive competencies, allowing them to adapt strategies that align with diverse market conditions and cultural contexts. Ultimately, this perspective helps firms sustain their competitive edge in a dynamic global landscape.
What is the difference between synergy and distinctive competencies?
Synergy refers to the combined effort of multiple elements or individuals that results in a greater outcome than the sum of their individual efforts. Distinctive competencies, on the other hand, are unique strengths or capabilities that give a company a competitive advantage in the market. While synergy is about collaboration and integration, distinctive competencies focus on what sets a company apart from its competitors.
Where can one find program management services?
Program management services are best found through outside consulting services from firms such as Deloitte. Most large consulting firms will have services for program management.
Why do some firms obtain grater value from their information system than otherswhat role do complementary asset and organizational and management capital play?
Some firms derive greater value from their information systems due to their investment in complementary assets, such as advanced technology, skilled personnel, and efficient business processes. These assets enhance the effectiveness of the information systems and enable firms to leverage data for decision-making and competitive advantage. Additionally, strong organizational and management capital, including leadership, culture, and strategic alignment, ensures that information systems are integrated into business operations and aligned with organizational goals, maximizing their impact. Therefore, the synergy between information systems and complementary assets is crucial for achieving superior value.
Is licensing proprietary technology to foreign competitors is the best way to give a firms competitive advantage?
Licensing proprietory technology to foreign competitors is the bes way to up a firms competitive advantage discuss
It is anything that a firm does especially well compared to rival firms?
competitive advantage
What does competitive advantage have to do with strategic planning?
Competitive Advantage is vital to Strategic planning. Strategic planning identifies strengths and weaknesses and visions and missions for the future. Competitive advantage relys on the benefits of the companies strengths and act upon them to turn them into competitive advantage. Other firms can't duplicate strategy or competivness that they don't have.
The concept of competitive advantage in business organizations?
A Competitive advantage describes the ability of a firm to be better at something than all other firms in that industry. This advantage allows the firm to differentiate their product/themselves by being 'better' than their competition. Not to be confused with comperative advantage, which focuses on a firms ability to be better at something COMPARED to another firm.
How do small firms survive?
Small firms survive by producing quality products. They also leverage any other competitive advantage they may have in the industry.
When a resource or capability is valuable rare costly to imitate and nonsubstitutable firms may obtain?
complex competitive advantage
What criteria must be met if firms are to achieve a competitive advantage through their employees?
A competitive advantage can be gained by offering the consumer a greater value than the competitors, such as by offering lower prices or providing quality services or other benefits that justify a higher price. The strongest competitive advantage is a strategy that that cannot be imitated by other companies. Competitive advantage can be also viewed as any activity that creates superior value above its rivals. A company wants the gap between perceived value and cost of the product to be greater than the competition.
What criteria be met if firms are to achieve a competitive advantage through their employees?
A competitive advantage can be gained by offering the consumer a greater value than the competitors, such as by offering lower prices or providing quality services or other benefits that justify a higher price. The strongest competitive advantage is a strategy that that cannot be imitated by other companies. Competitive advantage can be also viewed as any activity that creates superior value above its rivals. A company wants the gap between perceived value and cost of the product to be greater than the competition.
Should firms behave ethically?
Firms should behave ethically if they wish to retain the trust of their customers and shareholders. Companies that behave ethically have a competitive advantage in terms of branding and reputation.
What competitive environmental forces influence the firms strategy?
The competitive environmental forces influence the firms customers, rival firms, new entrants, substitutes, and supplies.
How firms compete with each other and how they attain and sustain competitive advantage is the essance of what type of management?
The essence of how firms compete and achieve sustainable competitive advantage falls under strategic management. This field focuses on the formulation and implementation of major goals and initiatives, taking into account resources and the external environment. By analyzing competitors, market trends, and internal capabilities, firms can develop strategies that differentiate them and create value. Ultimately, effective strategic management enables organizations to adapt and maintain their competitive edge over time.
What has the author James B McGowan written?
James B. McGowan has written: 'The role of services in defining a competitive advantage in small firms marketing'
