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Strategy

Management Exam #2

TermDefinition
Creating A Sustainable Competitive Advantage 4 Factors valuable - what the customers gets for what they give rare - only provider imperfectly imitated - hard, expensive, or timely for others to copy non-substitute - no substitutions or copycats
SWOT Analysis Strengths, Weaknesses --> internal Opportunities, Threats --> external
Corporate Portfolio Strategy diversifies investment among various businesses or lines 1. more businesses = smaller chance of failing 2. reduce risk through unrelated diversification 3. invest profits from slow-growth business into newer, high growth businesses
Corporate Strategies overall organization strategy that answers.. what business are we in? what business should we be in?
BCG Matrix Question Marks - low share, high growth Stars - high share, high growth Dogs - low share, low growth Cash Cows - high share, low growth
Corporate Grand Strategy asks what do we want to accomplish? 1. Growth - increase market share, profits, etc. 2. Stability - improve current services + products for existing customers 3. Retrenchment - shrink to survive; focus on core aspect of company
Industry Positioning Strategies - Cost Leadership; broad target + lower cost = dollar tree - Differentiation; broad target + high cost + extra features = Apple - Cost Focus; narrow target + lower cost = Redbox - Focused Differentiation; narrow target + expensive + extra features
Strategy Canvas Map of the competitive market Step 1; Step 2; plot where your competitors invest in the market Step 3; find space to create + go there - Cannot invest in all of the factors - Have to be different from competitors
Firm-Level Strategies (Shark Analogy) Strategic Moves in Direct Competition Attacks + responses in red ocean = Make strategic action, other competitor copies Entrepreneurship Movement into deep blue waters = Move into new area + create new products
Created by: Zetiris
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