ADMS 4900 Chapter Notes - Chapter 5: Holt Renfrew, Cost Leadership, Inside Out Music

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Chapter 5 business level strategy: creating and sustaining competitive. Strategy formulation (second aspect of strategic management) is thought and decision process about. ~ what business they should be in (corporate strategy) Business level strategy particular ways business competes in its chosen business. Sustainability ongoing relevance of the competitive advantage against the competitors, including their attempts to bypass or imitate the firm"s ability to continuously outpace them. Schools of thought: positioning school views business strategy and the roles of managers as identifying and striving to occupy the most attractive competitive positions in the market place (outside-in perspective) Types of competitive advantage and sustainability: overall cost leadership. Creating low cost position relative to its peers. ~ vigorous pursuit of cost reductions from experience. ~ cost minimization in all activities in the firm"s value chain. Economies of scale decline in per unit costs that arise with larger production runs, lager facilities and allocating fixed costs across more units produced.

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