BSM 600 Study Guide - Midterm Guide: Dominant Design, Pest Analysis, Leading Edge
12 Feb 2016
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Document Summary
The goal was to be unique and different strategy for competitive advantage. Manage external environment and evaluate it pestel suppliers, customers, competition: strategy: trying to fit your firm in the external environment. Internal assessment resources and capabilities: stretching your strategies to the max extent, not trying to buy resources but use them in the best possible way. Staying ahead of the competition, figure out innovative capacity of the organization. You be/cause the change or accept the change. When they start declining, have a dominant design in the industry. Once a dominant design is there, we don"t really have new features in the product. Should not outsource because other companies can see what you"re doing keep business processes internal as much as possible. When dominant design comes in and competitors start entering the market to copy you. Maximum amount of money is to be made here. Customers are willing to pay the price for the new product.
