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Strategic Management David - Chapter 4

Strategic Management David - Chapter 4 - 1 A firm's...

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1. A firm's strengths that cannot be easily matched or imitated by competitors are called: o External opportunities. o Distinctive competencies. o Special properties. o Competitive ventures. 2. ___________ can inhibit strategic management, for example, by leading managers to miss the significance of changing external conditions. o Rules and guidelines o Culture o Market segmentation o Competitive awareness 3. The five functions of management are planning, organizing, _________, staffing, and controlling. o Rewarding o Communicating o Implementing o Motivating 4. A particular form or manner in which members of a group use sounds and written signs to convey meanings to each other is the definition of: o Language. o Saga. o Metaphor.
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o Rite. 5. __________ ratios measure management's overall effectiveness as shown by the returns generated on sales and investment. o Liquidity o Profitability o Growth o Leverage 6. For a resource to be valuable, it must be either rare, hard to imitate, or: o Viable.
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