MARKET 1 Lecture Notes - Lecture 14: Better World Books, Real Options Valuation, Typewriter
Document Summary
Strategic management concepts and cases - rothaermel. Chapter 2 the strategic management process (smp) Lo 2-1: explain the role of vision, mission, and values in the smp: strategic management process method by which managers conceive of and implement a strategy that can lead to a sustainable competitive advantage. Strategic management concepts and cases - rothaermel: mostly works through a metaphor. Lo 2-3: distinguish between customer-oriented and product oriented missions and identify strategic implications: customer-oriented mission defines a business in terms of providing solutions to customer needs. We are in the business of providing solutions to professional communication needs : companies with customer-oriented missions tend to be more flexible when adapting to changing environments and are more likely to maintain strategic flexibility over time. It is not listening to customers but identifying a critical customers" need and leaving open the means of how to meet this need.
