To Build a Competitive Advantage by Out-Managing Rivals in Performing

question 165

Multiple Choice

To build a competitive advantage by out-managing rivals in performing value chain activities,a company must:

• A) position itself in the industry's more favorably situated strategic group.
• B) develop resource strengths that will enable it to pursue the industry's most attractive opportunities.
• C) develop core competencies and maybe a distinctive competence that rivals don't have or can't quite match and that are instrumental in helping it deliver attractive value to customers or else be more cost-efficient in how it performs value chain activities such that it has a low-cost advantage.
• D) outsource all of its value chain activities to world-class vendors and suppliers.
• E) eliminate its resource weaknesses.

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Definitions:

Information Power

The capability to influence others' behavior or decision-making process due to possessing specific knowledge or expertise.

Referent Power

A type of influence based on the charisma or likability of the leader, leading others to identify with them.

Desired Rewards

The benefits or compensations that individuals aim to receive in response to their actions or achievements.

Punishments

Consequences applied to decrease the likelihood of a behavior’s recurrence, often used as a form of discipline or control.