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Management


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Teal Tiglon


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V: Valuable R:Rare I:Inimitable N:Non-substitutable
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The competitive power of a resource or capability is measured by how many of four specific tests it can pass. These tests are referred to as the VRIN Test for Sustainable Competitive Advantage.

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29 questions
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V: Valuable R:Rare I:Inimitable N:Non-substitutable
The competitive power of a resource or capability is measured by how many of four specific tests it can pass. These tests are referred to as the VRIN Test for Sustainable Competitive Advantage.
The set of actions that its managers take to out preform competitors and achieve superior profitability.
A company's STRATEGY is the _______ its managers take to _______ and _______.
Value Chain
This identifies the primary activities and related support activities that create value for buyers which include the collection of activities undertaken in the course of producing, deliver, and supporting its products and services.
Rival Sellers, Potential New Entrants, Substitute Products, Suppliers, and Buyers.
The five forces analysis hold that competitive pressures on companies within an industry come from theses five sources.
Strength of rivalry
Which one tends to be the strongest of the five forces?
1.What is our present situation? 2.Where do we want to go from here? 3.How are we going to get there?
List the three questions that must be answered in the process of crafting a strategy.
Strength, Weakness, Opportunities, and Threats
The meaning of the acronym SWOT.
Basing a company's strategy on its most competitively valuable strengths gives the company its best chance for market success.
In order to give a company its best chance for market success, which part of the SWOT should a company base its strategy?
1. Future 2. Present
A strategic vision describes management's aspirations for the companies? A firms mission describes the scope and purpose of its?
Driving Forces
This term describes the major underlying causes of change in industry and competitive conditions.
Weakest
The best strategic offensives use a company's most powerful resources and capabilities to attack rivals where they are competitively?
Vision, Mission, Objectives, and Strategy
The Four elements that make up a strategic plan?
Blue ocean strategy
This offensive strategy offer growth in revenues and profits by discovering or inventing new industry segments that create altogether new demand.
Performance Targets
These are an organizations's_______ the specific results management wants to achieve.
Fit test, Competitive Advantage Test, and Performance Test
List the three tests of a winning strategy?
Politics Economy Social Technology Environment Legal
List the six principles components of (PESTAL) of the macro-environment.