BUS 1000 Lecture Notes - Lecture 6: Damodar Valley Corporation, Boost Mobile, Cost Leadership

• School: University of Denver
• Department: Business Core
• Course: BUS 1000
• Professor: Haag Stephen

Document Summary

Michael porter"s generic strategies: strategy, deciding where you want your business to go, deciding how to get there, competitive strategy: Involved taking offensive and defensive actions to create a defendable position in an industry. Take the structure of the industry as given, and position the company to match its strengths and weaknesses to it. Best buy, radioshack, tower records, circuit city. Designed to do more than simply cope with each of the competitive forces. They are meant to alter the underlying cause of such forces, thereby altering the competitive environment itself, thus gaining a competitive advantage. 3 fundamental ways for a firm to achieve sustainable competitive advantage: Allows a firm to sustain competitive advantage: cost leadership strategy: a. i. Having the lowest per-unit cost in the industry relative to rivals d. i. a. Could mean having the lowest cost among a few rivals where each firm enjoys pricing power and high profits d. ii. Product/service is positioned to appeal average customer d. iii.