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Chapter 2

Bmgt301- Ch. 2.docx

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Business and Management
Course Code
BMGT 301

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Ch. 2 Review • Sustainable competitive advantage­ financial performance that consistently  outperforms industry averages o Goal is easy to state, hard to achieve • Operational effectiveness­ performing the same tasks better than rivals perform  them o Danger is “sameness” • Follower problem­ exists when savvy rivals watch a pioneer’s efforts, learn from  their success and mistakes, then enter the market quickly with a comparable or  superior product at a lower cost before the first mover can dominate • Strategic positioning­ performing different tasks than rivals, or the same tasks in a  different way • FreshDirect o Firm’s “storefront” is a website offering one­click menus, semiprepared  special and the ability to pull up prior grocery lists for fast reorders o Highly efficient worker shifts, avoiding downtime lulls and busy rush hour  spikes of storefronts o Inventory turns­ number of times inventory is sold or used during course  of a year  Higher turnover ▯ firm is selling products quickly o Buys directly from suppliers, eliminating middlemen wherever possible o Straddling­ attempts to occupy more than one position, while failing to  match the benefits of a more efficient, singularly focused rival • Resource­based view of competitive advantage o Resources must be valuable, rare, imperfectly imitable, nonsubstitutable o Having all 4 characteristics is key • Dense wave division multiplexing­ a technology that increases the transmission  capacity of fiber­optic cable o Enable existing fiber to carry more transmissions than ever before • Imitation­resistant value chain­ way of doing business that competitors struggle to  replicate and that frequently involves technology in a key enabling role • Value chain­ set of activities through which a product/ service is created and  delivered to customers o Primary components­  Inbound logistics  Operations  Ou
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