BUS 800 Study Guide - Final Guide: Competitive Advantage, Vertical Integration, Main Source
9 Dec 2016
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Holistic big picture of company goals strategies. What is it: actions to reach a goal/objective, direction of the company, roadmap, company have choice, blueprint, set of decision. The evolution of business strategy: driven more by the practical needs of business than by the development of theory, (cid:862)corporate pla(cid:374)(cid:374)i(cid:374)g(cid:863) long-term planning. Set goals and objectives, forecasts key economic trends, established priorities for different products and business areas of the firm , and allocated capital expenditures: (cid:862) trategi(cid:272) ma(cid:374)age(cid:373)e(cid:374)t(cid:863) Michael porter (cid:862)what is trategy(cid:863: competitive strategy is about being different. It means deliberating choosing a different set of activities to deliver a unique mix of value: making trade offs in competing and choosing what not to do. Include investment in diversification, vertical integration, acquisitions, and new ventures, the allocation of resources between the different business of the firm, and divestment: business strategy. How the firm competes within a particular industry or market. Week #2 & 3: chapter 2 industry analysis.
