Plans That Define the Various Short-Term Activities Needed to Implement

question 41

Multiple Choice

Plans that define the various short-term activities needed to implement strategic plans are called __________ plans.

• A) strategic
• B) business
• C) operational
• D) long-term

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Definitions:

Complementary Innovation

Innovations that enhance the value or functionality of existing products or services when used together.

Substitute Innovation

New products or services that replace existing ones by fulfilling the same needs or wants in a different or superior way.

RBV Perspective

Resource-Based View; a framework in strategic management that describes how the internal resources of a firm can provide a source of competitive advantage.

Resource Heterogeneity

Resource heterogeneity is the concept in strategic management that resources and capabilities differ across firms, which can lead to competitive advantages.