CCT225H5 Chapter Notes - Chapter 2: Swot Analysis, Competitive Advantage, Job Security
11 May 2020
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Learning outcomes: explain why competitive advantages are temporary along with the four key areas of a. Swot analysis: describe porter"s five forces model and explain each of the five forces, compare porter"s three generic strategies, demonstrate how a company can add value by using porter"s value chain analysis. Identifying competitive advantages: business strategy: a leadership plan that achieves a specific set of goals or objectives such as, developing new products or services, entering new markets, attracting new customers. Identifying stakeholders: all around the organization at the center, government, adhere to regulations/laws, ethical taxation reporting. Increase employment: partners/suppliers, reliable contracts, ethical materials handling, responsible production, shareholders/investors, maximize profits, grow market share, high return on investment, community, professional associations, ethical recycling. Increase employment: employees, fair compensation, ethical conduct/treatment. Job security: customers, exceptional customer service, high-quality products, ethical dealing. Broad market, low cost: walmart (cost leadership: ex. Broad market, high cost: neiman marcus (differentiation: ex.
