POM Chapter 09 - Value Chain Management: Functional Strategies for Competitive Advantage

An organization gains competitive advantage when it:

Which of the following should an organization do in order to obtain a competitive
advantage through superior efficiency?

A tire company's products are more expensive than those offered by its competitors,
but are still sought after by customers since they are more durable and perform better
under harsh conditions. The tire company, in this case, has achieved competitive
advantage through _____.

Which of the following should an organization do in order to obtain a competitive
advantage through superior innovation?

Users of Adobe Reader, created by Adobe Systems Incorporated, are prompted to
provide feedback on their experiences with the software in a bid to improve the
product. Adobe Systems Incorporated, in this case, is trying to gain a competitive
advantage through:

A _____ is a plan of action to improve the ability of each of an organization’s
departments to perform its task-specific activities in ways that add value to an
organization’s goods and services

The development of a set of functional-level strategies that support a company's
business-level strategy and strengthen its competitive advantage is known as:

A(n) _____ is a coordinated series or sequence of functional activities needed to
transform inputs into finished goods or services