ECN 211 Lecture Notes - Ikea, Economic Stability, Profit Margin
Document Summary
Creating a distinctive competitive advantage: being different in a way that customer"s value(unique, more able to hang on to a slight profit margin. Determines needed resources, organizational capabilities, and management preferences. It links the inside of business with the external environment: you need the strategy to reflect your business"s internal and external environment, any one of the elements can really affect your strategy. Any variable can either drive or constrain strategy. First task deal with strategy environment linkage. Asses forces at work and their implications. He wanted to buy too many different brands and it led to p&g going on a downfall. Asses forces at work and their implications: e. g digital cameras market = canon vs. kodak. They weren"t sure if consumers would like it. They thought that this is where the new technology would go to. Kodak stayed back and did not invest into technology.
