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ENTR 3P98 (6)
Chapter 6

Chapter 6

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Department
Entrepreneurship
Course
ENTR 3P98
Professor
Teresa Menzies
Semester
Winter

Description
CHAPTER 6Creating the StrategyDont ForgetCreating value for its customers is the primary objective of any companyCreating customer value results in healthy profit margins and cash flowsLeading to an increase in shareholder valueIts AboutLooking at the current competitive contextRegenerating and ensuring continued competitive fitness of the businessGiving the next generation the opportunity to be entrepreneursImproving the odds that the business will continue into future generationsCharacteristics of Todays Economy Michael Porter Competitive StrategyPorters work suggested that competitive intensity is a function of five forces o The threat of new entrants o The bargaining power of buyers o The threat of substitute products o The bargaining power of suppliers o The rivalry that exists among existing firms as a result of the first four forces and the number and relative power of competitors industry growth high fixed costs lack of differentiation or high switching costs and high barriers to exitBasis of Competition SWOT Analysis This exhibit uses quality ease of use and delivery speed as examples of the basis of competition in the industry Different firms would get a plus signif they competed favorably were strong on that basis relative to the other competitors aif they were weak on that basis relative to the competition and a 0 if they were neutral that is if that factor did not represent a strength or a weakness relative to the competition
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