📌 Competitive advantage means doing better than any other competitor can do, while strategy is how the firm plans to win the game.
1. What is internationalization?
2. Before internationalizing, which combination should a firm assess to support its strategic decisions?
3. Which action best represents controlling the center in business strategy?
What are economies of scale?
Cost advantages from more efficient production lowering cost per unit.
What does a merger strategy plan to do?
Join two companies into a single new legal entity.
What is a business model?
A framework for how a company creates, delivers, and captures value.
What does a blue ocean strategy create?
A new, uncontested market space where competition is irrelevant.
What is VRIO analysis?
A framework evaluating resources by Value, Rarity, Imitability, and Organization.
What does competitive advantage mean in business?
Doing better than any other competitor can do.
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