Explain the four questions that managers must answer to initiate a strategic move that allows a firm to open a new and uncontested market space through value innovation.
What will be an ideal response?
The four questions that managers must answer to initiate a strategic move that allows a firm to open a new and uncontested market space through value innovation are:
Which of the factors that the industry takes for granted should be eliminated?
Which of the factors should be reduced well below the industry's standard?
Which of the factors should be raised well above the industry's standard?
Which factors should be created that the industry has never offered?
Lowering a firm's costs is primarily achieved by eliminating and reducing the taken-for-granted factors that the firm's industry rivals compete on. Perceived buyer value is increased by raising existing key success factors and by creating new elements that the industry has not offered previously.
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Which statement is true?
a. ERPs are infinitely scalable. b. Performance problems usually stem from technical problems, not business process reengineering. c. The better ERP can handle any problems an organization can have. d. ERP systems can be modified using bolt-on software.
All of the following techniques are used to validate electronic data interchange transactions except
a. value added networks can compare passwords to a valid customer file before message transmission b. prior to converting the message, the translation software of the receiving company can compare the password against a validation file in the firm's database c. the recipient's application software can validate the password prior to processing d. the recipient's application software can validate the password after the transaction has been processed
Identify the adjectives in the sentence. Mr. Rinaldi added several new members to the team
Dora leases a house from Evan for a two-year term. To ensure the validity of their lease, it should include
A. a description of the premises. B. a due date for the payment of the property taxes. C. a requirement that Dora perform structural repairs to the house. D. a requirement that Evan carry liability insurance.