1
Q
What is strategy?
A
a dynamic process that includes both formulation and implementation of a series of well aligned best possible actions in order to achieve a sustainable competitive advantage
2
Q
What is the limitation associated with picking the best action?
A
Limitation of resources
3
Q
What is the trade-off with every decision?
A
Opportunity costs
4
Q
Explain sustainable competitive advantage
A
- Sustainable: consistently winning over a long period
- Competitive: performance relative to competitors
- Advantage: maximize utility or minimize cost
5
Q
Quantitative Performance Measures
A
profitability, financial position, market performance
6
Q
Qualitative Performance Measures
A
enthusiasm, learning, satisfaction
BU 481
flashcards
Decks in class (6)
# Cards
