Explain which of the following approaches to strategy formulation is more likely to generate economic profits: (a) Evaluating external opportunities and threats and then developing resources and capabilities to exploit these opportunities and neutralize these threats (b) Evaluating internal resources and capabilities and then searching for industries where they can be exploited.
Answer to relevant QuestionsWhich firm will have a higher level of economic performance: (a) a firm with valuable, rare, and costly-to-imitate resources and capabilities operating in a very attractive industry or (b) a firm with valuable, rare, and ...Between the following two firms, which firm is more likely to be successful in exploiting its sources of sustained competitive advantage in its home market in a highly competitive, non-domestic market: a firm from a less ...When firms do engage in “forward pricing,” what risks, if any, do they face? Implementing a product differentiation strategy seems to require just the right mix of control and creativity. How do you know if a firm has the right mix? Common conflicts between sales and manufacturing are mentioned in the text. What conflicts might exist between other functional areas? Consider the following pairings: research and development and manufacturing; finance and ...
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