MGT 30220 Final: Strategic Management Study Guide Part 22
Strategic Management Study Guide
• Harik & Fredrikso’s Strategy Diaod:
o Elements of Strategy:
▪ Economic Logic:
• how will we obtain our returns?
• How will profits be generated
• Most successful strategies have a central economic logic that
serves as the fulcrum for profit creation
• Example:
o obtain premium prices by offering customers a difficult-to-
match product
o using huge scale operations and presence in multiple
market segments to achieve a sizable cost advantage in
food purchases
• Economic logic usually rooted i a fir’s iteral apailities
o Overall:
▪ Strategy is NOT STATIC
• it can evolve and be adjusted on an ongoing basis
▪ Strategy does NOT require a business to become RIGID
• some of the most successful businesses are flexible and open to
change
find more resources at oneclass.com
find more resources at oneclass.com
