Topic 3 - Internal Environment

Question 1

True or False?
A ‘Competitive Advantage’ is easy to replicate over the short term, but difficult to maintain over the long term.

Answer 1

True

Question 2

What is ‘Transient Advantage’?

(Think Ross Johnson from RJR Nabisco, Barbarians at the Gate)

Answer 2

A strategy that embraces the idea of constant change and evolution

Question 3

The central idea of the Rexxxxxxx Baxxx Vixx is that instead of looking outside to gain an edge over competition, organisation should instead look inside at the resources and capabilities at its disposal.

Answer 3

Resources Based View (RBV)

Question 4

What describes a firm that is ‘Organized To Capture Value’?

Answer 4

It has the organizational systems, processes, and structure to capitalize on the potential of the resources and capabilities of the firm to provide a competitive advantage.

Question 4

The categorizaties of ‘Strategic Resources’ are;
1. Vaxuxxle
2. Rxxe
3. Difxxxxxt To Imxxxte
4. Orgxxxzed To Cxxxxre Vaxue

Answer 4

Question 5

Resoxxxxs: Machines, buildings, raw materials, patents, databases, computer systems etc.

Capxxxxtxes: Way of achieving utilisation of plant, efficiency, productivity, flexibility, marketing.

Answer 5

Question 6

Describe the below:
1. Resources
2. Capabilities
3. Strategic Capability
4. Dynamic Capability

Answer 6

Question 7

What are methods for increasing customers perceived value of a product like Wine?

Answer 7

Question 8

What is a VRIO analysis?

Answer 8

Value, Rarity, Imitation, Organised