A __________ is a framework for how a firm will create, deliver, and capture value.

In general, firms are more aware of competitors that have similar resources and that:

TQM is most helpful to firms following the __________ business strategy.

Economies of scale are critical to success in what type of market?

The typical risks of a cost leadership strategy include:

By definition, to be engaged in multimarket competitions, two or more firms must compete against each other in more than one product area and in multiple geographic markets

Exporting and licensing are the most appropriate ways for smaller firms to first enter international markets

Human resources and other support functions are not value-creating activities in the value chain; only value-chain activities create value

Blind taste-tests have shown that the taste of premium-priced vodkas and inexpensive vodkas are indistinguishable even to regular drinkers of vodka. But the sales of premium vodkas are thriving. This is an example of the:

A tactical competitive action involves a significant commitment of specific and distinctive organizational resources