Hanna, the owner of GT Trading Inc., is engaged in the strategy formulation stage. She has already allocated a significant sum of money to upgrade the company’s communication network (sunk costs) but has failed to see any positive outcomes. Given the money she has already spent, she feels she needs to recover those costs and moves forward with the communications upgrade even though the outcome does not seem promising. This best illustrates the concept of

Intangible assets that have become much more important to a firm’s competitive advantage include

Through a strategy’s________, a firm puts its guiding policy into practice by employing a set of coherent actions.

Pablo is part of a sales team. He effectively coordinates his tasks with others in the team and willingly contributes to their efforts in achieving the team’s objectives. Thus, Pablo is in________ of the Level-5 leadership pyramid.

Marketo Inc., a marketing firm, replaced its existing data analysis software with new software from another supplier. Since the new software has different features and abilities, Marketo has had to spend $15,000 on training its employees to use it. In this scenario, $15,000 represents Marketo’s

Although eHook and eFury operate in the same consumer electronic industry, eHook has better sales and brand equity. This is attributed to eHook’s commitment to innovation. The company has adequate financial and human capital to invest in research and development, an area in which eFury lags behind. In this scenario, which of the following critical assumptions of the resource-based view of a firm has been illustrated?

Sophie’s sandwich shop offers burgers and sandwiches similar to national competitors in the fast-food market but at a much lower price. What strategy is Sophie’s using?

Amazon’s network of distribution centers allows it to drastically reduce its delivery times compared with most other online retailers. These distribution centers are examples of Amazon’s

When start-up entrepreneurs make claims like, “We will be the Uber of X, where X is any other category than ride hailing” or “We will be the Airbnb of Y, where Y is any other category than hospitality services” they are best illustrating which of the following cognitive biases?

The government of Monterro has mandated that all companies with 25 or more employees must provide group health insurance. Which of the following factors in a firm’s general environment does this mandate best indicate?