Which of the following analytical tools are particularly useful for determining whether a companys prices and costs are competitive quizlet?
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Terms in this set (20)the industry or market opportunities that are most relevant to a company and those that its strategy should aim at capturing include opportunities that the company has the financial resources to pursue, that are well-matched to the company's competitive capabilities and resource strengths, where the company has the greatest potential for competitive advantage, and that offer important avenues for growth which of the following statements about market opportunity is correct? depending on the prevailing circumstances, a company's opportunities can be plentiful or scarce and can range from wildly attractive to unsuitable strategic actions to eliminate an internal cost disadvantage include outsourcing high-cost activities to vendors capable of performing the activity more cheaply, implementing the use of best practices, trying to eliminate some cost-producing activities by revamping the value chain, and investing in productivity-enhancing, cost-saving technology which one of the following is not a good indicator of how well a company's present strategy is working? whether the company's resource strengths and competitive capabilities outnumber its resource weaknesses and competitive vulnerabiliities options for attacking the high costs of items purchased from suppliers do not include raising prices to customers (so as to cover the high costs) a company's cost competitiveness is largely a function of how efficiently it manages its internally performed value chain activities and the costs in the value chains of its suppliers and forward channel allies which one of the following is not something that can be learned from doing a competitive strength assessment? the extent to which a company's customer value proposition is superior to its rivals' evaluating a company's resources, capabilities, and competitive strength relative to its rivals using VRIN tests does not include developing answers to which one of the following questions? how good is the company's value chain? every organization has many resources, capabilities, and routines; however, those few things the company does really well and are performed with a very high proficiency are termed distinct capabilities which of the following is not an example of an external threat to a company's future business prospects (see table 4.2)? weaker brand image and a smaller network of retailer dealers than rivals have which of the following statements is false? none of these a company's value chain consists of the collection of activities it performs in the course of designing, producing, marketing, delivering, and supporting its product or service SWOT analysis is a simple but powerful tool for sizing up a company's internal strengths and competitive deficiencies, its market opportunities, and the external threats to its future well-being which of the following analytical tools are particularly useful for determining whether a company's prices and costs are competitive? value chain analysis and benchmarking a company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivals nearly always is relegated to trailing position in the industry which one of the following groups of characteristics is least likely to represent valuable company resources or competitive capabilities? larger workforce, longer time in business, lower profit margins, and smaller capital investment spend than rivals strategic actions to reduce the costs of internally performed value chain activities and improve a company's cost competitiveness can aim at lowering costs (1) in the suppliers' part of the industry value chain, (2) in a company's own internally performed activities, and/or (3) in the forward channel portion of the value chain imitation by rivals is most challenging when capabilities reflect a high level of social complexity and causal ambiguity identifying the strategic issues that a company managers need to address entails locking in on what challenges the company has to overcome in order to be financially and competitively successful in the years ahead, sets the agenda for deciding what actions to take next to improve the company's performance and business outlook, involves using the results of both industry and competitive analysis and evaluations of the company's internal situation using the VRIN tests, and is facilitated by analysis of the company's cost structure and customer value proposition relative to its rivals benchmarking entails comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities Sets with similar termsBUSN 495 CH 420 terms allison_sparks56 Strategic Management Ch. 420 terms brennakirsten QUIZ 420 terms whookid10 mgmt.17 terms jenniiferr79 Sets found in the same folderManagement Ch420 terms sblackstone MAN Chapt 8121 terms MAN4723 MGMT 495 chapter 547 terms hannah_yi5 Strategic Management Exam 280 terms HamnerUF Other sets by this creatorData Analytics Chapter 17 terms emcgraw3665 Strategic Management Assignment 94 terms emcgraw3665 Strategic Management Assignment 820 terms emcgraw3665 Strategic Management Assignment 720 terms emcgraw3665 Recommended textbook solutions Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. 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Which of the following tests determine whether a competitive advantage can be sustained in the face of competition?The VRIN tests for sustainable competitive advantage. A competitively valuable capability that a company performs better than its rivals.
What is SWOT analysis quizlet?A swot analysis is a technique used to assess the current situation of a business by examining the internal strengths and weaknesses and external opportunities and threats. Strengths and weaknesses. Strengths and weaknesses are internal to the business. Basically anything which is in the business' control.
Is a powerful tool for sizing up the company's competitive assets and determining?Resource and capability analysis is a powerful tool for sizing up a company's competitive assets and determining if they can support a sustainable competitive advantage over market rivals.
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