Providing greater value for customers than competitiors can.
What is Competitive Advantage
100
An assessment of the strengths and weaknesses in an organizations internal environment and the opportunities and threats in it's external environment
What is Situational analysis
100
A strategy that minimizes risk by diversifying investments among various businesses
What is portfolio strategy
100
What are the three positioning strategies
What is cost leadership, differentiation, and focus strategy
100
Rivalry between two companies offering similar products or services, acknowledge each other as rivals, and develop strategies against each other
What is direct competition
200
Resources that are difficult for other firms to copy
What is imperfectly imitable resources
200
A reluctance to change strategies or competitive practices that have been successful in the past
What is competitive inertia
200
A strategy where a company looks to improve the way they sell the same products or services to the same customers
What is stability strategy
200
Firms that take a strategy of not following a consistent strategy, but instead react to changes in the external environment
What is reactors
200
The degree in which two companies have overlapping products, services, or customers
What is market commonality
300
The four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage
What is the resources must be valuable, rare, imperfectly imitable, and nonsubstitutable
300
Searching the environment for important events or issues that might affect the organization
What is environmental scanning
300
The BCG matrix categorizes companies into these four groups by growth and market share
What is question marks, stars, dogs, and cash cows
300
Producing a specialized product or service for a limited, specially targeted group of customers
What is a focus strategy
300
Two basic strategic moves firms in direct competition can make
What is attack and response
400
This is critical to organizational strategy because they can help companies create and sustain an advantage over competitors
What is Resources
400
Dell is an example of what type of firm
What is a core firm
400
Three kinds of strategies used to help an organization achieve strategic goals
What is growth strategy, stability strategy, and retrenchment strategy
400
The Harvard professor who determined an industry's overall attractiveness and potential for long term profitability
Who is Michael Porter
400
Barnes and Noble lowering the price of their Nooke e-reader by $60 dollars less than Amazon's Kindle e-reader is an example of.
What is attack
500
When Apple introduced the iPod, no other portable music players on the market used existing hard drive technology in their design. The type of resources apple possessed to acheive this fall under the catagory of
What is rare resources
500
In reference point theory managers can influence the strategies chosen by their company by
What is actively changing and adjusting their strategic reference points
500
A way for a company to grow internally is
What is directly expanding the companies existing business or growing new businesses
500
Strategy that aims to minimize the effects of industry competition and build a sustainable competitive advantage
What is a positioning strategy
500
When direct competitiors can match the strategic actions your compnay takes