Management and Organizational Studies 4410A/B Study Guide - Midterm Guide: Generic Brand, Karl Benz, Process Engineering
22 Apr 2016
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Document Summary
The first practical automobile was built in 1885 karl benz. Automobiles were expensive toys for the wealthy manufactured by hundreds. Ford motors company and general motors revolutionized the production process. Automobile industry grew and is still growing as developing nations" demand for cars grows (eg. india and china) Industry status mature + competition is intense. Different areas of the industry have gone through different changes: car dealerships are less valuable (can browse online, brand name, knowledge have continuously been relevant. Industry dynamics: rapid and unpredictable change that the new tech and other major developments command. Competitive dynamics: the actions and responses of firms to competitors moves. Ilc can be explored from several levels: life cycle of entire industry, life cycle of single product. Importance of ilc analysis determining generic strategies, functional areas, value-creating activities, overall objectives (it is different at each stage of ilc: eg.
