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MGMT 466 - Ch 3
The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages
14
Management
Undergraduate 4
09/22/2009

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Term
global mind-set
Definition
a __ is the ability to study an internal org in ways that are not dependent on the assumptions of a single country, culture, or context.
Term
value
Definition
__ is measured by a product's performance characteristics and by its attributes for which customers are willing to pay. this is the source of AAR
Term
1. strategic decisions are non-routine, have ethical implications, and influence the organization's aar 2. managers face uncertainty on many fronts (technology, environment, economy) 3. intraorganizational conflict
Definition
3 challenges of analyzing the internal organization
Term
tangible resources (table 3.1)
Definition
__ are assets that can be seen and quantified (production equip, facillities)
Term
intangible resources (table 3.2)
Definition
__ are assets that are rooted deeply in the firm's history and have accumulated over time (knowledge, trust, capabilities of managers)
Term
1. valuable 2. rare 3. costly to imitate 4. nonsubstitutable
Definition
4 criteria of sustainable competitive advantage
Term
valuable
Definition
__ capabilities allow the firm to exploit opportunities or neutralize threats in its external environment
Term
rare
Definition
__ capabilities are capabilities that few, if any, competitors possess.
Term
costly to imitate
Definition
__ capabilities are capabilities that other firms cannot easily develop. they are created because of 1. unique historical conditions 2. organizational culture 3. social complexity
Term
nonsubstitutable
Definition
__ capabilities are capabilities that do not have strategic equivalents. two valuable firm resources are strategically equivalent when they each can be separately exploited to implement the same strategy
Term
primary activities
Definition
__ of the value chain are involved with a product's physical creation, its sale and distribution, and its service after the sale
Term
support activities
Definition
__ of the value chain provide the assistance necessary for the primary activities to take place
Term
value chain
Definition
shows how a product moves from the raw-material stage to the final customer
Term
outsourcing
Definition
__ is the purchase of a value-creating activity from an external supplier. this generally increases flexibility, mitigates risks, and reduces capital investments. firms must only do this with activities where they cannot create value or where they are at a substantial disadvantage compared to competitors
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