BUSI 4609 Study Guide - Comprehensive Final Exam Guide - Strategic Management, Market Power, International
20 Nov 2018
School
Department
Course
Professor
Document Summary
Low: static pressure of competition, low emphasize on individual difference, high emphasize in industry. Lecture 5 competitive scope: broad: compete in many customer segment, narrow: compete in 1 customer segment. Instability: introduce innovation, product advertising, foreign competition begin production, production abroad, standard product (cid:494) Influence vs risk and return: product, supplier, customer, host community, unions, profit margin: lowest acceptable return to capital market shareholder, organizational, education/ skill, cultural or ethical work, global or goal standard. Chapter 2: external environment: external audit: scan. Monitor/ forecast and interpret sweep of social/ political/ economic/ global. Core competency: resource and capabilities that are source of ca. Strategy: integrated and coordinated set of action taken to exploit core competency and gain ca. Strategic action: involve commitment resource and hard to implement. Competitive dynamic: total action + response by all firm in 1 market. Competitive rivalry: high during recession, firm are mutually interdependent, model of competitive rivalry competitor analysis comeptitive deiver of behavior.
