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Skills & resources that foster cost leadership Sustained capital investment & access to capital, process engineering skills, intense labor or core technical operations, products or services designed for ease of manufacture or delivery, low cost distribution system
Organizational requirements to support & sustain cost leadership activities Tight cost control, frequent detailed control reports, continuous improvement 7 benchmarking orientation, structured organization & responsibilities, incentives based on meeting strict usually quantitative targets
Risks of cost leadership many cost saving activities are easily duplicate, exclusive cost leadership can be a trap, obsessive cost cutting can shrink other competitive advantages, cost differences often decline overtime
differentiation Requires that the business have sustainable advantages that allow it to provide buyers w/ something uniquely valuable to them
Speed based strategies Rapid response to customer requests or market & tech changes have become a major source of competitive advantage for numerous firms in today's intensely competitive global economy
Risks of speed based strategy Speeding up activities that haven't been conducted in fashion that prioritizes rapid response should only be done after considerate attention to training, reorganization, & or reengineering
Market focus The extent to which a business concentrates or narrowly defined market, niches, some comets on basis of low cost differentiation & rapid response
Emerging industries Newly formed or reformed industries that typically are created by technological innovation newly emerging customer needs or other economic or sociological changes
Declining industries Those that make products or services for which demand is growing slower than demand in the economy as a whole
Fragmented industry No firm has a significant market share & can strongly influence industry outcomes
Global industries One that comprises firms whose competitive positions in major geographic or national markets are fundamentally affected by their overall global competitive positions
4 generic competitive strategies Broadside global competition, global focus strategy, national focus strategy, protected niche strategy
Created by: nashanta
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