MASTER_ Competition analysis

________ in the RBV are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies.

• Management controls

• Capabilities

• Resources

• Compensation policies

A firm's marketing skills and teamwork as well as its cooperation among managers are examples of

• financial resources

• human resources

• physical resources

• capabilities

To the extent that a firm's resources and capabilities enhance a firm's competitive position by enabling a firm to exploit its opportunities or neutralize its threats, these resources and capabilities are valuable and are known as

• strengths

• temporary competitive advantages

• sustainable competitive advantages

• core competencies

Firms that possess and exploit costly-to-imitate, rare and valuable resources in choosing and implementing their strategies may enjoy a period of

• temporary competitive advantage

• competitive disadvantage

• sustained competitive advantage

•  competitive parity

Within the five forces framework, the five most common threats facing firms from their competitive environment include each of the following except

• suppliers

• substitutes

• complementors

• buyers

________ make a wide variety of raw materials, labor and other critical assets available to firms

• Buyers

• Rivals

• Suppliers

• Substitutes

Mature industries are characterized by

• an increase in total industry demand.

• a slowdown in the introduction of new products or services

• faster increases in production capacity

• a decrease in the amount of international competition

The ultimate objective of the strategic management process is to enable a firm to choose and implement a strategy that leads to a competitive advantage.

• TRUE

• FALSE

________ helps a firm understand which of its resources and capabilities are likely to be sources of competitive advantage.

• Competitive analysis

• Internal analysis

•  External analysis

• Strategic choice

_______ are a subset of a firm's resources and are defined as tangible and intangible assets that enable a firm to take full advantage of other resources it controls.

• Capabilities

• Human resources

• Financial resources

• Retained earnings