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COMM 210 FINAL NOTES-1.docx

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Department
Commerce
Course
COMM 305
Professor
All Professors
Semester
Fall

Description
COMM 210 FINALTHINGS TO YOU NEED TO KNOW1 The Enduring Logic of Industrial SuccessAlfred D ChandlerMajor ClaimSuccessful firms capitalize on economies of scale and scope create management structures and invest in research and development in order to growFIRST MOVERS vs CHALLENGERS Once a firm loses the opportunity to be a first mover it is difficult to regain competitive advantage RD Entrepreneurial companies that do not make investments to create organizational capabilities cannot achieve longterm success Growth through unrelated diversification is RELATEDUNRELATED DIVERSIFCATIONa poor corporate strategyKey Concepts1 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 geographic expansion2 Economies of Scope large plants can use many of the same raw and semifinished materials and intermediate production processes to make a variety of different products moving intro related markets2 Evolution and Revolution as Organizations GrowLarry E GreinerMajor Claims Organizational growth is characterized as a series of developmental phasesManagement practices that work well in one phase bring on a crisis in the nextDifferent management styles are appropriate in different phases of the life cycleThe 5 phases of growth and their related crisis1 CreativityCrisis of Leadership2 DirectionCrisis of Autonomy3 DelegationCrisis of Control4 CoordinationCrisis of redtape excessive bureaucracyadherence to rules5 Collaboration3 Looking Inside for Competitive AdvantageJay B BarneyMajor ClaimsIf a firms resources and capabilities are valuable rare costly to imitate and are properly organized they will achieve sustained competitive advantage and will be above economic implications Four important questions about resources and capabilities VRIO1 The Question of Value2 The Question of Rareness3 The Question of Imitability4 The Question of Organization
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