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INTL 4400 Study Guide - Final Guide: Theodore Levitt, Knowledge Transfer, Motivation

8 pages90 viewsFall 2012

Department
International
Course Code
INTL 4400
Professor
David Weitzner
Study Guide
Final

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Environmental Scanning monitoring competitive intelligence
SWOT
General Environment: Psych/Soci/Politcal/Global/Technological/Economic
Porter’s
Threat of new entrants: differentiation, scale, cost advantages, switching costs,
capital outlays, distribution
Buyers: more buyers, product is unimportants, lots of suppliers, makes a large part
of the business, threat of backward integration
Suppliers: forward integration
Substitutes
Rivalry: number, industry growth, capacity, differentiation, exit barriers
Strategic groups:
Mobility barriers: factors that deter movement from one strategic position to
another
Is competitive margin tedious?
Future direction of firm strategies
Implications of industry trends.
VCA internal and external perspective
Firm into various activities that help us understand the ways inputs are deployed
and costs are incurred relationships
Value: premium costumers iwllinh to pay
Five primary activities: outbound (, operations, inbound log, marketing and sales,
and service
Support activities: general administration, HRM, technology development,
procurement
RBV: looks at the firm as a bundle of resources. Competitive advantage, based on
tangible/intangible resources and core competencies
Valuable? Will customers pay a premium
Imitable? Path dependay, causual ambiguity, physical uniqueness, social complexity
Substitutable? Rare?
Balanced Scorecard: instead of using financial ratios that only look at expenses,
balanced scorecard looks at different measures that assess overall business.
Customer perspective: how do customers see us? Time, quality, service, cost
Internal perspective: where do we excel? Efficiency
Innovation: can we continue to improve and create value: sales, maturity time, next
generation time
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Shareholder: how do we see our shareholders? Any financial measures
Chapter 4
Knowledge economy: effective management of intellectual assets and
knowledge workers to create value, instead of financial resources and capital
assets
Human capital, social capital knowledge
Human capital
o Attracting
Hire for attitude, train for skill
Motor skills can be learned on the job hire the right attitude
Hrie base on attitude, values, interpersonal skills, rtc
o Developing
Continue to develop
Encourage involvement
Keep them engaged, trained
o Retaining
Pied piper effect
Hire social networks
Develop strong culture, motivation, intrinsic and extrinsic
motivation, don’t focus heavily on financial rewards, etc
Mission and values
Strong loyalty, etc.
Social capital
o Organizational culture:
o Creating loyalty
o Leveraging l
Chapter 5
Cost leadership
o Finding efficiencies in the value chain
o Reducing costs
o Economies of scale
o Cost minimization, etc
o Pitfalls
Focus too much on specific segments of the value chain
Any rise in input costs can be detrimental to strategy
Too imitable
Lack of differentiation
When customers become aware of actual costs, advantages are
decreased
o Need to maintain parity on differentiation in respects to competitors
o Benefits
Absorb buyer pressures
More leeway to cope with price increases from suppliers
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Protects from intense rivalry
Economies of scale, etc
Lower prices puts at advantage in terms of substitutes
Differentiation
o Something consumers are willing to pay a premium for (brand,
service, warranty, etc)
o Pitfalls
Too much differentiation, too much of a price premium, no
focus on efficiencies within value chain
o Benefits
Buyers need the product
Suppliers benefit from supplying (prestige)
Focus
o Focusing on a niche geographic market, need, etc
o Achieves competitive advantage by tailoring strategies to the niche
o Cost or differentiation focus
o Erosion of cost advantages, risk of competition
Combination of both
o Unique value in an efficient manner
o Don’t want to be stuck in the middle, hard to do
o 3 ways of dong this
Automated and flexible manufacturing strategies
Mass customization
taking advantage of all profit pools in the industry
Enhancing value chain via IT
Evauating strategies
o Consistency: alignment with goals
o Consonance: fit with external environment
o Advantage
o Feasibility no
Industry Wide
Segment
Uniqueness perceived
by customer
Low cost position
Chapter 6
Diversification initiatives must create value, and synergy to be undergon.
Related
Sharing intangible, tangible resources
Create economies of scope
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