Day 1 Porter What is Strategy Abstract- pg 62

Question 1

delivering greater value allows a company to do what in its quest for superior profitability ?

Answer 1

charge higher average unit prices

Question 2

the activities that go into creating, producing, ____ and delivering a product or service are the basic units of competitive advantage

Answer 2

selling,

Question 3

dramatic operational _____ have resulted from tools but rarely have these gains translated into sustainable profitability

Answer 3

improvements

Question 4

Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to the of a strategy

Answer 4

sustainability

Question 5

Today’s dynamic markets and technologies have called into question the sustainability of competitive _____

Answer 5

advantage

Question 6

the essence of strategy is choosing a unique and valuable position rooted in systems of ____ that are much harder to match

Answer 6

activities

Question 7

competitive convergence is when companies become indistinguishable from one another due to ____and tools like benchmarking

Answer 7

competition

Question 8

Operational effectiveness is performing the activities that make up competitive advantage how ?

Answer 8

better than rivals

Question 9

dramatic operational improvements have resulted from tools but rarely have these gains ____ into sustainable profitability

Answer 9

translated

Question 10

what is the problem with operational effectiveness from a competitive standpoint?

Answer 10

best practices are easily emulated

Question 11

fit drives what 2 things?

Answer 11

competitive advantage sustainability

Question 12

Using cases such as and , Porter shows how making trade-offs among activities is critical to the sustainability of a strategy

Answer 12

Ikea Vanguard

Question 13

Strategic position emerges from what 3 distinct sources?

Answer 13

1. variety based positioning- offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants 2. needs based positioning- serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients 3. access- based positioning- serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less

Question 14

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive ____ that damage the profitability of many companies

Answer 14

battles

Question 15

whereas managers often focus on _____ components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 15

individual

Question 16

the activities that go into creating,____ , selling, and delivering a product or service are the basic units of competitive advantage

Answer 16

producing

Question 17

Overall advantage or disadvantage results from all of a company’s what?

Answer 17

activities

Question 18

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is ____ about a company. It means performing different activities from rivals or performing similar activities in different ways

Answer 18

distinctive

Question 19

what is variety based positioning?

Answer 19

offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants

Question 20

gradually ____ have taken the place of strategy

Answer 20

tools

Question 21

Under pressure to improve productivity, quality, and speed, managers have embraced tools such as TQM, benchmarking, and ____

Answer 21

reengineering

Question 22

choosing a unique and valuable position rooted in systems of activities that are much harder to match is the essense of what?

Answer 22

strategy

Question 23

Porter stresses the role of leadership in making and enforcing clear ? while offering advice on how to reconnect with strategy

Answer 23

strategic choices

Question 24

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in ____ ways

Answer 24

different

Question 25

the activities that go into creating, producing, selling, and delivering a product or service are the basic units of what?

Answer 25

competitive advantage

Question 26

as managers push to ____ on all fronts, they move further away from viable competitive positions

Answer 26

improve

Question 27

the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are much ____to match

Answer 27

harder

Question 28

Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to what?

Answer 28

the sustainability of a strategy

Question 29

Under pressure to improve what 3 things have managers embraced tools such as TQM, benchmarking, and reengineering ?1.

Answer 29

1.productivity, 2.quality, 3. speed

Question 30

the productivity frontier is the maximum value a company can deliver at a given cost, given the best available ____, skills, and management techniques

Answer 30

technology

Question 31

Porter explores how the shift from____ to tools has led to the rise of mutually destructive competitive battles that damage the profitability of many companies

Answer 31

strategy

Question 32

competitive convergence is when companies become _____ from one another due to competition and tools like benchmarking

Answer 32

indistinguishable

Question 33

the competition for operational effectiveness produces absolute improvement in operational effectiveness however produces relative improvement for who?

Answer 33

no one

Question 34

porter traces the economic basis of competitive advantage down to the level of what?

Answer 34

the specific activities a company performs

Question 35

Porter traces the economic basis of competitive advantage down to the level of general/specific activities a company performs

Answer 35

specific

Question 36

Today’s dynamic _____and technologies have called into question the sustainability of competitive advantage

Answer 36

markets

Question 37

What has resulted from tools such as TQM, benchmarking, and reengineering?

Answer 37

dramatic operational improvements

Question 38

Differences in operational effectiveness among companies are an important source of differences in profitability among competitiors why?

Answer 38

because they directly affect relative cost positions and levels of differentiation .

Question 39

Managers often focus on individual components of success such as core _____ or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 39

competencies

Question 40

porter argues that _____ effectiveness, although necessary to superior performance, is not sufficient because its techniques are easy to imitate

Answer 40

operational

Question 41

Using cases such as Ikea and Vanguard, Porter shows how making among activities is critical to the sustainability of a strategy

Answer 41

trade-offs

Question 42

Porter explores how the shift from strategy to tools has done what?

Answer 42

led to the rise of mutually destructive competitive battles that damage the profitability of many companies

Question 43

Managers often focus on individual components of ____ such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 43

success

Question 44

T/F Differences in operational effectiveness among companies are pervasive

Answer 44

T

Question 45

the essence of strategy is choosing a unique and valuable position rooted in ____ of activities that are much harder to match

Answer 45

systems

Question 46

Under pressure to improve productivity, quality, and ____, managers have embraced tools such as TQM, benchmarking, and reengineering

Answer 46

speed

Question 47

dramatic operational improvements have resulted from tools like TQM, reengineering, and benchmarking but what is the issue still arising?

Answer 47

rarely have these gains translated into sustainable profitability

Question 48

strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating “fit” among a company’s ____

Answer 48

activities

Question 49

the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are much harder to ____

Answer 49

match

Question 50

Moving towards the productivity frontier can be the result of what kinds of things? (3)

Answer 50

1. capital investment 2. different personnel 3. new ways of managing

Question 51

what are 2 ways a company can outperform rivals in terms of value and cost?

Answer 51

1. deliver greater value to customers 2. create comparable value at a lower cost or do both

Question 52

gradually tools have taken the place of ____

Answer 52

strategy

Question 53

Under pressure to improve _____, quality, and speed, managers have embraced tools such as TQM, benchmarking, and reengineering

Answer 53

productivity

Question 54

Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and _____

Answer 54

sustainability

Question 55

Under pressure to ____ productivity, quality, and speed, managers have embraced tools such as TQM, benchmarking, and reengineering

Answer 55

improve

Question 56

Porter traces the economic basis of competitive advantage down to the level of specific activities a company ____

Answer 56

performs

Question 57

Porter stresses the role of leadership in what?

Answer 57

making and enforcing clear strategic choices

Question 58

porter argues that operational effectiveness, although necessary to ______ performance, is not sufficient because its techniques are easy to imitate

Answer 58

superior

Question 59

the _____ that go into creating, producing, selling, and delivering a product or service are the basic units of competitive advantage

Answer 59

activities

Question 60

the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques is called the ?

Answer 60

productivity frontier

Question 61

Using cases such as Ikea and Vanguard, Porter shows what is critical to the sustainability of a strategy ?

Answer 61

making trade-offs among activities

Question 62

Operational effectiveness is performing the activities that make up competitive advantage ____ , that is faster, or with fewer inputs and defects, than rivals

Answer 62

better

Question 63

positioning is rejected today as too static for what (2)?

Answer 63

1. dynamic markets 2. changing technologies

Question 64

whereas managers often focus on individual components of success such as core ____ or critical resources, Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 64

competencies

Question 65

Operational effectiveness is ?

Answer 65

performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals

Question 66

the productivity frontier is the maximum value a company can deliver at a given cost, given the best available technology, ____ , and management techniques

Answer 66

skills

Question 68

porter uses cases such as IKEA and VANGUARD to show how making trade-offs among activities is critical to the sustainability of a ____

Answer 68

strategy

Question 69

dramatic ____ improvements have resulted from tools but rarely have these gains translated into sustainable profitability

Answer 69

operational

Question 70

porter uses cases such as IKEA and VANGUARD to show how making trade-offs among ____ is critical to the sustainability of a strategy

Answer 70

activities

Question 71

when companies become indistinguishable from one another due to competition and tools like benchmarking this is called ?

Answer 71

competitive convergence

Question 72

porter traces the economic basis of competitive advantage down to the level of the specific a company performs

Answer 72

activities

Question 73

Today’s dynamic markets and technologies have called what into question?

Answer 73

the sustainability of competitive advantage

Question 74

porter argues that operational effectiveness, although necessary to superior _____ is not sufficient because its techniques are easy to imitate

Answer 74

performance,

Question 75

serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less is what kind of strategic positioning?

Answer 75

access- based positioning

Question 76

When a company improves its operational effectiveness, it moves towards/away from the frontier?

Answer 76

towards

Question 77

dramatic operational improvements have resulted from tools but rarely have these gains translated into _____ profitability

Answer 77

sustainable

Question 78

the activities that go into creating, producing, selling, and delivering a product or service are the ____ units of competitive advantage

Answer 78

basic

Question 79

the essence of strategy is choosing a unique and valuable _____ rooted in systems of activities that are much harder to match

Answer 79

position

Question 80

greater efficiency in regards to a companys quest for superior profitability results in what?

Answer 80

lower average unit cost

Question 81

porter argues that operational effectiveness, although _____ to superior performance, is not sufficient because its techniques are easy to imitate

Answer 81

necessary

Question 82

all difference between companies in cost or price derive from what?

Answer 82

the hundreds of activities required to create, produce, sell, and deliver their products or services

Question 83

as managers push to improve on all fronts, they move further away from what?

Answer 83

viable competitive positions

Question 84

dramatic operational improvements have resulted from tools but rarely have these gains translated into sustainable _____

Answer 84

profitability

Question 85

porter argues that operational effectiveness, although necessary to superior performance, is not ______because its techniques are easy to imitate

Answer 85

sufficient

Question 86

fit has to do with the ways a company’s activities do what?

Answer 86

interact and reinforce one another

Question 87

whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing across ___all of a company’s activities enhances both competitive advantage and sustainability

Answer 87

fit

Question 88

the activities that go into creating, producing, selling, and ____ a product or service are the basic units of competitive advantage

Answer 88

delivering

Question 89

the root of the problem for companies is the failure to distinguish between what 2 things?

Answer 89

1. operational effectiveness 2. strategy

Question 90

Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive _____ and sustainability

Answer 90

advantage

Question 91

Porter stresses the role of leadership in making and enforcing clear strategic choices while offering advice on how to ____ with strategy

Answer 91

reconnect

Question 92

Operational effectiveness is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than ___

Answer 92

rivals

Question 93

_____ convergence is when companies become indistinguishable from one another due to competition and tools like benchmarking

Answer 93

competitive

Question 94

the productivity frontier is the maximum value a company can deliver at a given ____ ,given the best available technology, skills, and management techniques

Answer 94

cost,

Question 95

the productivity frontier is the maximum value a company can deliver at a ____cost, given the best available technology, skills, and management techniques

Answer 95

given

Question 96

Under pressure to improve productivity, quality, and speed, managers have embraced ____ such as TQM, benchmarking, and reengineering

Answer 96

tools

Question 97

serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients is what kind of strategic positioning?

Answer 97

needs based positioning

Question 98

strategy being the creation of a unique and valuable position, involving a different set of activities, requiring you to make trade offs in competing, and involves creating “fit” among the company’s activities are the 3 what underlying strategic positioning?

Answer 98

key principals

Question 99

competitive ____ is when companies become indistinguishable from one another due to competition and tools like benchmarking

Answer 99

convergence

Question 100

the ways a company’s activities interact and reinforce one another is called their what?

Answer 100

fit

Question 101

The productivity frontier can apply to what? (3)

Answer 101

1. individual activies 2. groups of linked activities 3. an entire company’s activities

Question 102

the productivity frontier is the maximum value a company can deliver at a given cost, given the best available technology, skills, and ____ techniques

Answer 102

management

Question 103

as managers push to improve on all ____, they move further away from viable competitive positions

Answer 103

fronts

Question 104

what is the productivity frontier?

Answer 104

the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques

Question 105

gradually tools have taken the place of what?

Answer 105

strategy

Question 106

Managers often focus on individual components of success such as core competencies or_____ resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 106

critical

Question 107

dramatic operational improvements have resulted from tools but rarely have these ____translated into sustainable profitability

Answer 107

gains

Question 108

Today’s dynamic markets and technologies have called into question the sustainability of _____ advantage

Answer 108

competitive

Question 109

A company can outperform rivals only if it can do what?

Answer 109

establish a difference that it can preserve.

Question 110

strategic ____ attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways

Answer 110

positioning

Question 111

Operational effectiveness is performing the ____ that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals

Answer 111

activities

Question 112

the activities that go into creating, producing, selling, and delivering a product or service are the basic units of ____ advantage

Answer 112

competitive

Question 113

Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is to the sustainability of a strategy

Answer 113

critical

Question 114

the essence of strategy is choosing a unique and _____position rooted in systems of activities that are much harder to match

Answer 114

valuable

Question 115

T/F leadership and strategy are not inextricably linked

Answer 115

F

Question 116

Porter traces the economic basis of competitive advantage down to the level of specific ____ a company performs

Answer 116

activities

Question 117

What are the 3 key principles that underlie strategic positioning?

Answer 117

1. strategy is the creation of a unique and valuable position, involving a different set of activities 2. strategy requires you to make trade offs in competing- to choose what not to do 3. strategy invvolves creating “fit” among a company’s activities

Question 118

what is a benefit in regards to competitors when you have fit, where activities mutually reinforce each other?

Answer 118

competitors can’t easily imitate the activities

Question 119

Today’s dynamic markets and _____have called into question the sustainability of competitive advantage

Answer 119

technologies

Question 120

whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s activities enhances both ____ ____ and sustainability

Answer 120

competitive advantage

Question 121

Porter stresses the role of leadership in making and clear strategic choices while offering advice on how to reconnect with strategy

Answer 121

enforcing

Question 122

as all the competitors in an industry adopt best practices, what happens to the productivity frontier?

Answer 122

it shifts outward, lowering costs and improving value at the same time

Question 123

porter traces the basis of competitive advantage down to the level of the specific activities a company performs

Answer 123

economic

Question 124

the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are ?

Answer 124

much harder to match

Question 125

whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s ____ enhances both competitive advantage and sustainability

Answer 125

activities

Question 126

whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and _____

Answer 126

sustainability

Question 127

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that damage the ____ of many companies

Answer 127

profitability

Question 128

_____ operational improvements have resulted from tools but rarely have these gains translated into sustainable profitability

Answer 128

dramatic

Question 129

the essence of strategy is choosing a unique and valuable position rooted in what?

Answer 129

systems of activities that are much harder to match

Question 130

porter argues that operational _____ , although necessary to superior performance, is not sufficient because its techniques are easy to imitate

Answer 130

effectiveness

Question 131

what has led to the rise of mutually destructive competitive battles that damage the profitability of many companies according to Porter?

Answer 131

the shift from strategy to tools

Question 132

Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances what 2 things?

Answer 132

competitive advantage sustainability

Question 133

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that damage the profitability of many ____

Answer 133

companies

Question 134

porter uses cases such as IKEA and VANGUARD to show how making trade-offs among activities is critical to the _____ of a strategy

Answer 134

sustainability

Question 135

Porter traces the ____ basis of competitive advantage down to the level of specific activities a company performs

Answer 135

economic

Question 136

the essence of strategy is choosing a ____ and valuable position rooted in systems of activities that are much harder to match

Answer 136

unique

Question 137

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from ____ or performing similar activities in different ways

Answer 137

rivals

Question 138

what is access based positioning?

Answer 138

serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less

Question 139

the activities that go into ____, producing, selling, and delivering a product or service are the basic units of competitive advantage

Answer 139

creating

Question 140

porter uses cases such as IKEA and VANGUARD to show how making ____-_____ among activities is critical to the sustainability of a strategy

Answer 140

trade-offs

Question 141

the essence of _____is choosing a unique and valuable position rooted in systems of activities that are much harder to match

Answer 141

strategy

Question 142

Under pressure to improve productivity, quality, and speed, managers have embraced tools such as TQM, ____, and reengineering

Answer 142

benchmarking

Question 143

What two things have called into question the sustainability of competitive advantage?

Answer 143

1. the dynamic markets 2. technologies

Question 144

as managers push to improve on all fronts, they move ____ away from viable competitive positions

Answer 144

further

Question 145

Porter traces the economic basis of competitive ____down to the level of specific activities a company performs

Answer 145

advantage

Question 146

Porter explores how the shift from strategy to tools has led to the ____ of mutually destructive competitive battles that damage the profitability of many companies

Answer 146

rise

Question 147

strategic positioning attempts to achieve sustainable competitive advantage by doing what?.

Answer 147

preserving what is distinctive about a company

Question 148

Under pressure to improve productivity, ____ and speed, managers have embraced tools such as TQM, benchmarking, and reengineering

Answer 148

quality,

Question 149

Operational effectiveness is performing the activities that make up _____ advantage better, that is faster, or with fewer inputs and defects, than rivals

Answer 149

competitive

Question 150

Differentiation of companies arises from what 2 things?

Answer 150

1. the choice of activiites 2. how the activities chosen are performed

Question 151

Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among is critical to the sustainability of a strategy

Answer 151

activities

Question 152

Under pressure to improve productivity, quality, and speed, managers have embraced tools such as what? (3)

Answer 152

1. TQM, 2.benchmarking 3. reengineering

Question 153

porter traces the economic basis of competitive down to the level of the specific activities a company performs

Answer 153

advantage

Question 154

Porter explores how the shift from strategy to tools has led to the rise of mutually _____competitive battles that damage the profitability of many companies

Answer 154

destructive

Question 155

the activities that go into creating, producing, selling, and delivering a product or service are the basic ____ of competitive advantage

Answer 155

units

Question 156

Today’s dynamic markets and technologies have called into question the _____ of competitive advantage

Answer 156

sustainability

Question 157

Porter stresses the role of what in making and enforcing clear strategic choices?

Answer 157

leadership

Question 158

as managers push to improve on all fronts, they move further away from viable ______ positions

Answer 158

competitive

Question 159

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive _____ battles that damage the profitability of many companies

Answer 159

competitive

Question 160

the ____ frontier is the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques

Answer 160

productivity

Question 161

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing ____ activities from rivals or performing similar activities in different ways

Answer 161

different

Question 162

cost is generated by what?

Answer 162

performing activities

Question 163

competitive convergence is when companies become indistinguishable from one another due to competition and tools like ____

Answer 163

benchmarking

Question 164

Managers often focus on ____ components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 164

individual

Question 165

porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because?

Answer 165

its techniques are easy to imitate

Question 166

Operational ____ is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals

Answer 166

effectiveness

Question 167

Porter offers advice on how companies can reconnect with what?

Answer 167

strategies that have become blurred over time

Question 168

the essence of strategy is choosing what?

Answer 168

a unique and valuable position rooted in systems of activities that are much harder to match

Question 169

gradually what have taken the place of strategy?

Answer 169

tools

Question 170

Under pressure to improve productivity, quality, and speed, managers have embraced tools such as ___ benchmarking, and reengineering

Answer 170

TQM,

Question 171

the productivity frontier is the ____ value a company can deliver at a given cost, given the best available technology, skills, and management techniques

Answer 171

maximum

Question 172

Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to the sustainability of a

Answer 172

strategy

Question 173

Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s ____ enhances both competitive advantage and sustainability

Answer 173

activities

Question 174

the productivity ____ is the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques

Answer 174

frontier

Question 175

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing what?

Answer 175

different activities from rivals or performing similar activities in different ways

Question 176

the essence of strategy is _____ a unique and valuable position rooted in systems of activities that are much harder to match

Answer 176

choosing

Question 177

porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its techniques are easy to ____

Answer 177

imitate

Question 178

what is the difference between operational effectiveness and strategic positioning?

Answer 178

operational effectiveness mean performing similar activities better than rivals perform them and strategic positioning means performing different activities from rivals or similar activities in different ways

Question 179

Porter explores how the shift from strategy to tools has led to the rise of ____ destructive competitive battles that damage the profitability of many companies

Answer 179

mutually

Question 180

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that_____ the profitability of many companies

Answer 180

damage

Question 181

Porter stresses the role of leadership in making and enforcing clear strategic choices while offering advice on how to reconnect with ____

Answer 181

strategy

Question 182

strategy is the creation of a ____ and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating “fit” among a company’s activities

Answer 182

unique

Question 183

Managers often focus on individual ____ of success such as core competencies or critical resources but Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 183

components

Question 184

dramatic operational improvements have resulted from ____ but rarely have these gains translated into sustainable profitability

Answer 184

tools

Question 185

porter uses cases such as IKEA and VANGUARD to show how what is critical to the sustainability of a strategy?

Answer 185

making trade-offs among activities

Question 186

Porter stresses the role of leadership in making and enforcing clear ____ choices while offering advice on how to reconnect with strategy

Answer 186

strategic

Question 187

what is competitive convergence?

Answer 187

when companies become indistinguishable from one another due to competition and tools like benchmarking

Question 188

whereas managers often focus on individual components of success such as core competencies or critical _____, Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability

Answer 188

resources

Question 189

strategy is the creation of a unique and ____position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating “fit” among a company’s activities

Answer 189

valuable

Question 190

what used to be the heart of strategy?

Answer 190

positioning

Question 191

as managers push to improve on all fronts, they move further away from _____competitive positions

Answer 191

viable

Question 192

Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how _____ _____across all of a company’s activities enhances both competitive advantage and sustainability

Answer 192

managing fit

Question 193

strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in _____- to choose what not to do. strategy involves creating “fit” among a company’s activities

Answer 193

competing

Question 194

as managers push to improve on all fronts, they move further away from viable competitive ____

Answer 194

positions

Question 195

the productivity frontier is the maximum ____ a company can deliver at a given cost, given the best available technology, skills, and management techniques

Answer 195

value

Question 196

Porter traces the economic basis of ____ advantage down to the level of specific activities a company performs

Answer 196

competitive

Question 197

when the productivity frontier shifts outward, what is the result? (2)

Answer 197

lowering costs and improving value

Question 198

the work of deciding which target group of customers and needs to serve requires what 3 things?

Answer 198

1. discipline 2. the ability to set limits 3. forthright communication

Question 199

dramatic operational improvements have resulted from tools but ____ have these gains translated into sustainable profitability

Answer 199

rarely

Question 200

the productivity frontier is the maximum value a company can ____ at a given cost, given the best available technology, skills, and management techniques

Answer 200

deliver

Question 201

Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that do what?

Answer 201

damage the profitability of many companies

Question 202

Porter stresses the role of ____ in making and enforcing clear strategic choices while offering advice on how to reconnect with strategy

Answer 202

leadership

Question 203

strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make ____ ____in competing- to choose what not to do. strategy involves creating “fit” among a company’s activities

Answer 203

trade offs

Question 204

the activities that go into creating, producing, selling, and delivering a product or service are the basic units of competitive ____

Answer 204

advantage

Question 205

Porter explores how the shift from strategy to ____ has led to the rise of mutually destructive competitive battles that damage the profitability of many companies

Answer 205

tools

Question 206

porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its techniques are ____ to imitate

Answer 206

easy

Question 207

Managers often focus on individual components of success such as ? (2

Answer 207

core competencies or critical resources

Question 208

what does cost advantage arise from?

Answer 208

performing particular activities more efficiently than competitors.

Question 209

strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing _____ activities in different ways

Answer 209

similar

Question 210

strategy is the creation of a unique and valuable position, involving a ____ set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating “fit” among a company’s activities

Answer 210

different

Question 211

____ effectiveness is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals

Answer 211

Operational

Question 212

Porter shows how making trade-offs among activities is critical to the sustainability of a strategy using cases from what 2 companies?

Answer 212

Ikea and Vanguard

Question 213

Porter traces the economic basis of competitive advantage down to what?

Answer 213

the level of specific activities a company performs

Question 214

Porter traces the economic ____ of competitive advantage down to the level of specific activities a company performs

Answer 214

basis

Question 215

T/F Companies can reap enormous advantages from operational effectiveness

Answer 215

T

Question 216

What are the basic units of competitive advantage?

Answer 216

the activities that go into creating, producing, selling, and delivering a product or service

Question 217

offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants is what kind of strategic positioning?

Answer 217

variety based positioning

Question 218

the specific activities a company performs forms the economic basis of what according to Porter?

Answer 218

competitive advantage

Question 219

whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s activities enhances what? (2)

Answer 219

competitive advantage and sustainability

Question 220

operational effectiveness is necessary for what?

Answer 220

superior performance

Question 221

porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its____ are easy to imitate

Answer 221

techniques

Question 222

_____ positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways

Answer 222

strategic

Question 223

strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating ____ among a company’s activities

Answer 223

“fit”

Question 224

the activities that go into creating, producing, selling, and delivering a ____ or ____ are the basic units of competitive advantage

Answer 224

product service

Question 225

what is needs based positioning?

Answer 225

serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients

Question 226

strategic positioning attempts to achieve ____ competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways

Answer 226

sustainable