Provide an example of how dynamic capabilities can benefit firms.
What will be an ideal response?
Student examples will vary. A sample answer follows:
Dynamic capabilities are essential to move beyond a short-lived advantage and to create a sustained competitive advantage. Not only do dynamic capabilities allow firms to adapt to changing market conditions, they also enable firms to create market changes that can strengthen their strategic position. For example, Apple has repeatedly reconfigured its resource base to produce innovative variations on its popular touchscreen devices, from iPods, to iPhones, to iPads, and now Apple Watches. The introductions of each of these devices have kept Apple at the forefront of the consumer electronics industry and forced rivals to be reactive rather than proactive.
You might also like to view...
Even when you win trust and achieve customer satisfaction, the customer relationship is very fragile.
Answer the following statement true (T) or false (F)
In a compensation deal, the seller sells a plant, equipment, or technology to another country and agrees
to accept as partial payment products manufactured with the supplied equipment. Indicate whether the statement is true or false
The organization's effort to update the organization's mission, objectives and goals and a systematic big picture consideration of organizational alternatives is called
a. Organizational Marketing Plan Process b. Campaign Marketing Plan Process c. Portfolio Planning d. Internal Environmental assessment e. The Strategic Plan
Define the term “demarketing.” What circumstances dictate the choice of demarketing strategy?
What will be an ideal response?