question
VRIO
answer
Value, Rarity, Imitability, Organization
question
Cost Leadership
answer
Generate economic value by having lower costs than competitors
question
Product Differentiation
answer
generate economic value by offering a product that customer prefer over a competitor's product
question
Cost Leadership Strategy
answer
Increase EVC by decreasing costs
question
product differentiation
answer
Increase EVC by increasing PV
question
Economies of Scale
answer
increase in firm size is measured by lower costs. As the volume of the firm increases, the average cost per unit increases until some optimal volume of production is reached
question
Diseconomies of Scale
answer
Can increase costs if firms grow too large. If volume of production rises beyond some point, this can lead to an increase in unti costs.
question
Learning Curve Economies
answer
A firm gets more efficient at a process with experience. The more complicated/ technical the process the grater the experience advantage.
question
Differential low cost access to Productivity
answer
Occurs when firms are able to access inputs at less costs then competitors
question
Policy Choices
answer
...
question
Technological Advances Independent of Scale
answer
Technology allows firms to be competitive
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
