MGMT 490 Study Guide - Comprehensive Final Exam Guide - O-6-Methylguanine-Dna Methyltransferase, Strategic Management, Mgmt
Document Summary
It depends on how involved the board is in the three tasks of monitoring, evaluation and influencing, and initiating and determining. Individual rights approaach: a particular decision or behavior should be avoided if it interferes with the rights of others. Justice approach: decision makers should be equitable, fair, and impartial in the distribution of costs and benefits to individuals and groups. Informal: culture, attitudes leadership styles stock options, compensation policies, bonuses based on: Exploiting relationships with customers: firm customer relationships, firm linkages. Imitability of product differentiation: logic of costs of imitation if imitators face a cost disadvantage of imitation, they will rationally choose not to imitate, sources of costs of imitation, historical uniqueness, causal ambiguity social complexity. Cost reduction revenue enhancement the focal firm is able to capture above normal economic returns (avoid perfect competition: value of vertical integration, market vs.
