MGMT 2100 Chapter Notes - Chapter 6: Swot Analysis, Cost Leadership, Nook Simple Touch

• School: University of Iowa
• Department: Management
• Course: MGMT 2100
• Professor: Crawford

Document Summary

Resources: the assets, capabilities, processes, employee time, information, and knowledge that an organization uses to improve its effectiveness and efficiency and create and sustain competitive advantage. Firms use their resources to improve organizational effectiveness and efficiency. Can help companies create and sustain an advantage over competitors. Competitive advantage: providing greater value for customers than competitors can. Can achieve a greater competitive advantage by using their resources to provide greater value for customers than competitors can. Sustainable competitive advantage: a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate. Not the same as long-lasting competitive advantage, though companies want it to last a long time. Valuable resources: a resource that allow companies to improve efficiency and effectiveness. Changes in customer demand and preferences, competitors" actions, and technology can make once-valuable resources much less valuable. For a sustained competitive advantage, valuable resources must also be rare resources.