The process of integrating all of an organization's functions together.
What is strategic management?
These are actions firms take to gain competitive advantages in a single market or industry and determines how they compete.
What is Business-Level Strategy?
The overall strategy Walmart uses.
What is low cost strategy?
This is what the "S" in the PESTEL analysis stands for.
What is Social?
This strategy allows companies to create new products in unknown markets.
What is Blue Ocean strategy?
The overall strategy companies like Gucci, Lululemon, and Coach use.
What is differentiation or value-based strategy?
A method for helping a company assess its market position in relation to its competitors.
What is an Industry Analysis?
These are the 2 external aspects of the SWOT Analysis
What are opportunities & threats?
Two techniques a company can use to conduct a competitive analysis
What are: 1.Competitor's annual report and quarterly filings.2.Independant industry analysts reports.3.Consumer focus groups.4.Search engine analysis.5.Observations from ex-employees (Glassdoor, etc.).6.Social media.7.Competitor press releases and public statements.8.Secret shoppers.9.Interviews with common vendors.
This is what helps companies achieve their overall goals and objectives.
What is strategy?
This allows a company to assess information by getting factual data and individual opinions.
What is Environmental Scanning?
This aspect of Porter's Five Forces includes bargaining leverage, brand identity, price sensitivity, and threat of backward integration.
What is Buyer's Bargaining Power?
What is a statement a company uses to convince customers that its product or services provides more value than a competitor's?
What is a value proposition?
Thinking of our pyramid slide, a company's mission and vision helps create a strategy which helps drive this for the organization.
What is goals and/or objectives?
This is model that identifies 5 critical external factors that affect a business' strategy?
What is Porter's Five Forces?
What are the 2 internal aspects of a company's SWOT analysis?
What are strengths & weaknesses?
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