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Strategy ch5
Financial Metrics in Strategic Management
10
Business
Graduate
06/07/2013

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Term
Causal Ambiguity
Definition
Situation in which the cause and effect of a phenomenon are not readily apparent.
Term
Dynamic capabilities perspective
Definition
A model that emphasizes a firm`s ability to modify and leverage its resourc base in a way that enables it to gain and sustain compeititve adventage in a constantly changing environment.
Term
Path Dependence
Definition
A situation in which the options one faces in the current situation are limited by decisions made in the past
Term
Resource-based View
Definition
A model that sees resources as keu to superior firm performance. If a resource exgibits VRIO attributes the resource enables the firm to gain sustain a competitive advantage.
Term
Resource Heterogeneity
Definition
Assumption in the resource-based view that a firm is a bundle of resources and capabilities
Term
Resource Immobility
Definition
Assumption in the resource-based view that a firm has resources that tend to be "sticky" and don`t move easy from firm to firm.
Term
Resource Stocks
Definition
The firm`s current level od intangible resources.
Term
Social complexity
Definition
A situation in which different social and business systems interact with one another;
Term
Strategic Activity system
Definition
The Conceptualization of a firm as a network of interconnected activities.
Term
VRIO FRAMEWORK
Definition
Valuable->Competitive Disadvantage
Rare->Competitive Parity
Costly to imitate->Temporary Comp. Adv.
Organized to capture value->Temp. C. A.
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