Integrated Strategic Experience Chapter 3 Study Guide Terms Global mind set Value Tangible resources Intangible resources Valuable capabilities Rare capabilities Costly to imitate capabilities Nonsubstitutable capabilities Primary activities Support activities Outsourcing Value chain Production Marketing and sales Service Inbound logistics Procurement Human resource management Firm infrastructure Outbound logistics Absorptive capacity Physical uniqueness Causal ambiguity Social complexity Path Dependency Transparent Replicable Transferrable Review Questions 1 Draw the resource based model for sustainable competitive advantages and strategic competitiveness 2 What are tangible and intangible resources Give some examples 3 Define core competence and distinctive competence Give some examples 4 What are the four conditions lead to a sustainable competitive advantage 5 Explain Porter s Value Chain What are the primary and support activities Give examples of activities a low cost firm might use to create value Give examples of activities a differentiated firm might use to create value 6 Imitability is a function of what 3 conditions Practical Skills Upon completion of this chapter you should be able to a Examine a firm using the Value Chain and identify specific activities a firm uses to create value
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