Competition!
These are resources that are not controlled or possessed by many competing firms and are necessary to sustain a competitive advantage
Rare Resources
It is a discrepancy between a company's intended strategy and the strategic actions taken by managers while implementing that strategy
Strategic Dissonance
The Central companies in a strategic group
Core Firms
BCG stands for.....
Boston Consulting Group
Operop Inc., a technology company, manufactures digital cameras. Its cameras have the highest pixel density, multiple zoom options, and a variety of picture effects that none of its competitors can match up to. This ability of producing superior quality cameras is the company's?
distinctive competence
PeoplePapers, a greeting cards manufacturing company, has retail stores in most parts of the country. It hires its employees from the best universities around the world and uses the best equipment in its manufacturing processes. In this scenario, the organization's processes, its employees, and its equipment are examples of its_____.
Resources
A ______ is an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.
situational analysis/SWOT
The firms in a strategic group that follow strategies related to but somewhat different from those of the core firms
Secondary Firms
They are the companies that have a large share of a slow-growing market.
Cash Cows
creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures.
Related diversification
Ziff Corp. was a leading electronics firm for about three decades. As new competitors entered the industry, Ziff Corp's market share dropped. The managers at Ziff Corp. refuse to change any of their strategies, as they believe that their existing strategies will get them back to becoming the market leaders as they did in the past. This scenario is an example of _____.
competitive inertia
the first step of a strategy-making process
Assessing the need for strategic change
A committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage
Shadow-Strategy Task force
Bigs Steel, a metal manufacturer that has negligible market share in a slow-growing industry
Dog
companies that have a small share of a fast-growing market.
question marks
This is a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate
Sustainable competitive advantage
the last step of a strategy-making process
Choosing strategic alternatives
the internal decision making routines, problem solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs
Core Capabilities
PrimeSmart, a smartphone manufacturer that is the market leader in a rapidly growing industry
Star
It is a reluctance to change strategies or competitive practices that have been successful in the past.
competitive inertia
_________ resources are those resources that are impossible or extremely costly or difficult to duplicate.
Imperfectly imitable
_____________are used by managers to measure whether their firm has developed the core competencies that it needs to achieve a sustainable competitive advantage
Strategic reference points
A group of companies within an industry against which top managers compare, evaluate, and benchmark strategic threats and opportunities
Strategic Group
RainTech, an electronics company that is struggling for market share in a fast-growing industry
Question Mark
The positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price to get it
Differentiation