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Through a strategy’s________, a firm puts its guiding policy into practice by employing a set of coherent actions.

Leading guitar string producer Highly Strung has enjoyed a competitive advantage based on its proprietary coating that gives its strings a clearer sound and longer life span than uncoated strings. One of Highly Strung’s competitors, however, has recently developed a similar coating using less expensive ingredients; this allows it to charge a lower price than Highly Strung for similar-quality strings. Highly Strung’s competitive advantage is in danger due to

Five Star Inc. is a knife manufacturer known for its high-quality steel chef’s knives, and it follows a differentiation strategy. In this scenario, Five Star Inc. should ideally compare its strategic position with a

LuxWear Inc., an apparel company, recently moved locations to be closer to their main manufacturer in South Carolina. The move required the firm to upgrade its legacy ordering system with its manufactures ordering system, which should facilitate its supply chain to gain future efficiencies and reap future savings. However, the new system costs $75,000 and will require a significant amount of time to train employees. This best represents a significant increase in the company’s

Which of the following will most likely be considered as an airline’s core competency?

Makita, DuPont, Builder’s Square, and Nut’s & Bolts are all hardware stores that compete against each other through everyday low pricing and discounts on bulk purchases. All four stores cater to the needs of highly price-sensitive customers. Thus, together these stores form a________ group.

Suppose that several senior managers leave Home Depot and go to work at rival Lowe’s. What aspect of resource stocks and resource flows does this represent for Home Depot?

Mejor Maíz tortilla chips, manufactured by Tampico Alimentos, have been the top-selling tortilla chips in the market. Though the market for chips is flooded with competitors, Tampico Alimentos has been able to maintain its market position for a long time. This is mainly attributed to the fact that its chips have all the flavor of competing brands but only half the fat, the result of a proprietary cooking method used by the company. This competency of Tampico Alimentos will be considered as a(n)________ resource in the VRIO framework.

Sophie’s sandwich shop offers burgers and sandwiches similar to national competitors in the fast-food market but at a much lower price. What strategy is Sophie’s using?

Five Guys has become successful in a highly competitive industry dominated by fast-food giants like McDonald’s and Burger King, as well as direct competitors claiming to be “better burger” joints such as Smashburger, Burgerfi, and Shake Shack. Which of the following statements accurately explains the main reason for the success of Five Guys?