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Firms develop a competitive advantage when they are able to develop corporate-level cooperative strategies and manage them in ways that are valuable, rare, imperfectly imitable, and nonsubstitutable

Walmart’s aggressive pricing strategy is a strategic action that plays a major role in how it competes

Large firms with significant slack resources (i.e., are able to launch a greater number of competitive actions) but that remain flexible and act like small firms (i.e., are able to launch a variety of actions) will be more successful against rivals

As the threat of corporate failure increases due to relatedness between a firm’s business units, the firm may decide to:

During a financial downturn, a firm may consider diversification as a value-neutral defensive strategy to protect itself against what?

Airbnb matches people wanting to rent out their properties with individuals seeking properties to rent. What type of business model does Airbnb use?

Mighty Mike’s, a manufacturer of power tools for the home hobbyist, has seen its main competitor, MyTools, introduce a line of power tools that are smaller sized, lighter weight, and suitable for women and older hobbyists who have weaker hands than the typical male workshop hobbyist. Mighty Mike’s is waiting to see whether MyTools’ new line is a success. Mighty Mike’s could be classified as a second mover

In the context of competitive rivalry, what is an actor’s reputation?

The generalized forms of value that goods and services provide are either low cost with acceptable features or highly differentiated features with acceptable cost

Almost any identifiable human or organizational characteristic can be used to subdivide a market into segments that differ from one another on a given characteristic