Integrated Strategic ExperienceChapter 3 Study GuideTermsGlobal mind-setValueTangible resourcesIntangible resourcesValuable capabilitiesRare capabilitiesCostly-to-imitate capabilitiesNonsubstitutable capabilitiesPrimary activitiesSupport activitiesOutsourcingValue chainProductionMarketing and salesServiceInbound logisticsProcurementHuman resource managementFirm infrastructureOutbound logisticsAbsorptive capacityPhysical uniquenessCausal ambiguitySocial complexityPath DependencyTransparentReplicableTransferrableReview Questions1. 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 SkillsUpon completion of this chapter, you should be able toa) Examine a firm using the Value Chain and identify specific activities a firm uses to create
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