MGT 300 Study Guide - Quiz Guide: Strategic Management, Management System, Swot Analysis
27 Mar 2019
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Document Summary
Competitive advantage doing something better than the competition: outperform rivals, world"s fast changing environment is shrinking the period time it can be maintained. Sustainable competitive advantage the very best strategies provide something more: doing better in inimitable ways, achieved in ways that are difficult to imitate. Stakeholders constituencies affected by the firm and its strategic accomplishments. What makes an industry attractive little existing competition, few threats from new entrants or substitutes, and low bargaining power among suppliers and buyers: porter"s five forces model competitors, new entrants, suppliers, customers, and substitutes. Retrenchment radical changes to solve problems liquidation: downsizing, divestiture. Vertical integration upstream/downstream acquisitions (suppliers/distributors: growth, suppliers = backwards, distributors = forwards. Strategic business unit a division of the organization that has a unique business, mission, product or service line, competitors, and markets relative to other units of the same organization.
