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BMGT 301 Exam 1 – Karake 2025 Questions and Answers Sustainable Competitive Advantage - ....ANSWER ...-Financial performance that consistently outperforms industry averages Operational Effectiveness - ....ANSWER ...-Performing the same tasks better than rivals perform them. Fast Follower Exists when: - ....ANSWER ...-1. Savvy rivals watch a pioneer's efforts 2. Learn from their successes and missteps 3. Then enter the market quickly with a comparable or superior product at a lower cost 4. Before the first mover can dominate. Strategic Positioning - ....ANSWER ...-Performing different tasks than rivals or the same tasks in a different way. Straddling - ....ANSWER ...-When a firm attempts to match the benefits of a success position while maintaining its existing position. True sustainable advantage comes from assets and business models that are simultaneously (Resource-based Theory): - ....ANSWER ...-Valuable Rare …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1