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1. What do you mean by a resource-based view? Explain the significance of the resource-based view (RBV) to strategy development?
2. What are the main factors which determine the sustainable competitive advantage?
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Solved in 2 steps
- The resourced-based view of the firm identifies four criteria that managers can use to evaluate whether particular resources and capabilities are core competencies and can, therefore, provide a basis for sustainable competitive advantage. Are these measures independent or interdependent? Explain. If some of the measure are interdependent, what implications does that fact have for managers wanting to create and sustain a competitive advantage?6. Discuss the indicators of whether a company’s strategy is working well.Which is NOT one of the 3 Tests of a Winning Strategy? A) Is the strategy well matched to external conditions? B) Is the strategy modified regularly to keep it fresh and consistent? C) Does the strategy fit with internal company resources and capabilities? D) Does the strategy result in strong financial performance? E) Does the strategy result in a sustainable competitve advantage?
- Explain the differences between corporate, business strategy and functional strategy. How each of the strategy types is connected with each other?4) Explain the concept of competitive advantage. Why is it central to the study of strategic management? Explain with example (s).What is the importance of top-down and bottom–up approaches in strategy implementation?
- Name one popular business in the restaurant of the food industry and then identify how the business used an effective cost leadership strategy to compete in their industry. And finally, identify one business effectively using a differentiation strategy to compete in their industry. Describe their use of strategy type?3. How often does the organization need to analyze the internal and external factors in order to understand competitive advantages and disadvantages as well as identify areas for investment or needs for improvement? Explain!4. When developing and implementing strategy, does an organization needs to consider the internal and external factors to effectively balance short and long-term priorities? If Yes, why? If No, why? Please answer this thank youKindly provide a detailed outline for each of the strategies that you have outlined suggest how Mr Grant might proceed to evaluate these strategies. Tropical Leisure Limited Tropical Leisure Limited has been making high quality Caribbean leisure wears for over twenty-five years, in old rented premises located in the heart of the Barbadian capital of Bridgetown. The company has a flexible labour force of about twenty employees and three directors, only one of whom, namely Mr. Grant, the managing director, is fully active in the business. The company specializes in leisure and swim wear garments. Their current range consists of tee shirts, shorts, skirts and bath suits in rich vibrant Caribbean colours and styles for men, women and children. The company capacity is 400-500 garments per week, depending on style and continuity of the production run, but additional floor space and machines could be brought in quickly to raise production levels to a maximum of 1000 garments weekly if…
- Examine the relationship between corporate-level strategy, business level strategy, and functional strategy.“Strategy is an act or a group of actions that give competitive advantage over competitors in a competitive game.” Explain shortly the different patterns of actions that define different strategiesJustify and illustrate why a business's strategy is essentially a collection of strategies.