ACCG250 Lecture Notes - Lecture 2: Business Process Management, Bargaining Power, Business Process

• School: Macquarie University
• Department: Accounting and Corporate Governance
• Course: ACCG250
• Professor: Mauricio Marrone

Document Summary

Any assets that provide an organization with an edge against its competitors in some measure such as cost, quality or speed. A competitive advantage helps an organization to control a market and to accrue larger than average profits. Competitive advantage is essential for you organization"s survival. Becoming knowledgeable about strategy and how is can affect strategy and competitive position will help you throughout your career. Rivalry among existing competitors: refers to the current status within the market that a business operates within. Threat of substitute products or services: refers to those products or services that can be used as an alternative to what the industry currently produces. Bargaining power of suppliers: a supplier can find itself in a strong bargain position is it is the only business able to provide a particular product or service. Bargaining power of buyers: an organisation that has a small number of specialist customers can ill afford to lose them.