Management and Organizational Studies 4410A/B Study Guide - The Keg, Customer Switching, Strategic Management

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

Chapter 5: business-level strategy creating and sustaining competitive advantage. A firm"s competitive strategy is about creating value for its customers and having these customers reward the firm for the superior value they receive. Soft drink and beverages business is global and cut-throat, each single market share point translates to. Cott supplying president"s choice pop surpassed combined sales of pepsi and coke products at. Strategy formulation, the second main aspect of strategic management, is about the thought processes and the decisions managers make to address: what business they should be in, how to compete in the business. Business-level strategy is about the particular ways a firm competes in its chosen business. Vigorous pursuit of cost reductions from experience. Cost minimization in all activities in the firm"s value chain such as r&d, services, sales force and advertising: two important concepts, economies of scale.