COMM 210 Study Guide - Final Guide: Stock Market, Research And Development, Competitive Advantage

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Alfred chandler: the enduring logic of industrial success. Logic of managerial enterprise: the dynamic growth and competition that drives modern industrial capitalism. Economies of scale: large plants can produce products at a much lower cost than small ones because the cost per unit drops as the volume of output rises. Economies of scope: large plants can use many of the same raw and semi-finished materials and intermediate production processes to make a variety of different products. Lower and middle managers: coordinate products though production and distribution. Top managers: coordinate and monitor current operations and to plan and. First movers & challengers: companies that quickly dominated their industries by making large investments and gaining competitive advantage. (high market share) Created national and international marketing distribution organizations. They engaged in systematic r&d to improve their products and processes, they differentiated as well. They captured markets and others may not want to compete. Research & development: to improve products and processes.

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