Managing the Strategy-Making Process for Competitive Advantage (Ch 1)
This is the return a company makes on the capital invested in the enterprise
Profit
T or F: In an external analysis we look at the strengths and weaknesses.
False
T or F: In an internal analysis we look at strengths and threats
false
Functional-level strategies are actions that improve the e_______ and e_________ of one or more value creation activities
efficiency and effectiveness
T or F. Different positioning strategies that can be used in different industry settings
True
This is: Creating competitive advantage through effective management of the strategy-making process (S__________ L__________)
Strategic Leadersip
This is a company’s closest competitor
Rival
This is when a company’s profitability is greater than the average profitability of all companies in its industry. C_________ A___________
Competitive Advantage
This is the position of a company with regard to pricing, promotion, advertising, product design, and distribution. M______ strategy
Marketing
This business-level strategy is distinguishing oneself from rivals by offering something that they find hard to match
Differentiation
This is: Selecting strategies based on analysis of an organization’s external and internal environment
S____________ F____________
Name one of Porter's competitive forces
Risk of entry
Bargaining power of buyers
Power of complement providers
Threat of substitutes
Bargaining power of suppliers
Name one of the 4 support activities in the value chain
Company Infrastructure
Information Systems
Materials Management (Logistics)
Human Resources
Name one of the four building blocks of competitive advantage
Superior:
Efficiency
Quality
Innovation
Customer Responsiveness
This type of company absorbs price increases from suppliers and pass them to customers without losing market share. Low-cost or differentiation
Differentiation
Which type of manager is responsible for specific business functions? ________ level
Functional level
This is reductions in unit costs attributed to a larger output
Economies of Scale
What are the two types of competitive advantage?
Low cost
Differentiation
This is eductions in unit costs attributed to a larger output
Economies of Scale
T or F. Functional level strategy does not need to support the business level strategy
F
This is an articulation of a company’s desired achievements or future state
Vision
At this stage the market is totally saturated, demand is limited to replacement demand, and growth is low or zero (6 letter word)
Mature
This is knowledge, research, and information that is owned by an individual or organization
Intellectual property
This is cost savings that come from learning by doing. L_______ E________
Learning Effects
Coca Cola is an example of: Broad low cost, broad differentiation, focus low cost or focus differentiation strategy
Broad differentiation