are major underlying causes of changing industry & competitive conditions

You might want to study harder...

a company's directional path & future product-customer-marketing-tech focus

Warning: You may have to think about this one...

be hard to copy, be rare and something rivals lack, etc...

outlines the competitive moves & approaches to be used in achieving goals.

Who is going to score the highest?

low-cost provider, broad differentiation, best-cost provider

Oooh. Someone's been working hard!

newspapers and Internet news providers

Who's got what it takes?

stake out the same market position of successful industry rivals.

You might want to rethink your strategy...

buyers respond immediately to dramatic changes.

serves as mgmt's tool for giving the organization a sense of direction.

Will you defeat the competition?

provides buyers with superior value than rival sellers, or same v/less cost

a distinctive element that attracts customers & competitive advantage

What course is this anyway?

developing a profitable business model.

cheaper components or services, innovation, reducing risk exposure

developing a thorough understanding of the external & internal environments

a company's resource strengths & weaknesses to opportunities & threats.

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BUS 470 Final Exam

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Questions 24

Answers

1
Let's do this!
are usually triggered by shifting buyer needs
are major underlying causes of changing industry & competitive conditions
are usually spawned by growing demand for the product
are usually triggered by changing technology
2
You might want to study harder...
what future actions the enterprise will likely take to outmaneuver rivals.
management's storyline of how it intends to make a profit.
why the company does certain things to please customers.
a company's directional path & future product-customer-marketing-tech focus
3
Warning: You may have to think about this one...
be hard to copy, be rare and something rivals lack, etc...
be an industry key success factor & occupy a prime position in value chain
be something the company does internally rather than collabs w/ outsiders
be patentable
4
You can do it!
lists methods of making money in its chosen business.
focuses on offering a more applealing product than rivals.
outlines the competitive moves & approaches to be used in achieving goals.
links the company's financial targets to control mechanisms.
5
Who is going to score the highest?
offensive, defensive, and counter maneuvers
market share gowth provider, sales revenue leader, market share retention
price leader, price follower, tech leader, first-mover
low-cost provider, broad differentiation, best-cost provider
6
Looks like we made it!
outsourcing
forward integration
vertical integration
strategic alliance
7
Oooh. Someone's been working hard!
newspapers and Internet news providers
gym & fitness equipment
microprocessors and laptops
theme parks and hotels
8
Who's got what it takes?
grow the business.
conduct operations & improve the company's financial & market performance.
attract and please customers.
stake out the same market position of successful industry rivals.
9
You might want to rethink your strategy...
consumer acceptance of an innovation takes time.
competition creates an appealing new product.
buyers respond immediately to dramatic changes.
new production capacity needs to be installed.
10
Come on....
spells out the company's strategic intent.
lays out how mgmt plans to implement and execute a profitable bus. model.
serves as mgmt's tool for giving the organization a sense of direction.
defines "who we are and what we do."
11
Will you defeat the competition?
is consistently able to achieve both its strategic & financial objectives.
is able to maximize shareholder wealth.
has a profitable business model.
provides buyers with superior value than rival sellers, or same v/less cost
12
I predict.... Success!
Value Chain Analysis
Resource & Capability Analysis
SWOT
Best Practice Concepts
13
Read carefully!
Coca-Cola vs. Pepsi
a salad as a substitute for french fries
snowboards as a substitute for snow skis
streaming services instead of going to the movies
14
Isn't this fun?
a distinctive element that attracts customers & competitive advantage
to mimic the plans of the industry's most successful companies.
to employ diverse practices for greater control over sales growth targets
to include similar characteristics to rival company strategies
15
Dream on!
a narrow differentiation strategy
a best-cost strategy
a high-cost strategy
a broad differentiation strategy
16
What course is this anyway?
developing a profitable business model.
developing a strategic vision of the future.
crafting strategy to achieve objectives.
executing chosen strategies efficiently and effectively.
17
Bring it!
speeding a company's entry into foreign markets
cheaper components or services, innovation, reducing risk exposure
giving a firm more direct control over the costs of value chain activities
permitting greater use of strategic alliances & collaborative partnerships
18
Catch the vision!
graphic, directional, focused
realistic, customer-focused, & market-driven
challenging, competitive, & "set in concrete"
balanced, responsible, & rational
19
Did you even study?
low-cost provider strategy.
focused low-cost strategy.
broad differentiation strategy.
best-cost provider strategy.
20
Future looks bright. Grab your sunglasses.
competitive asset/liability analysis
strategic resource assessment
company resource mapping
SWOT
21
Keep on. Almost there.
competence
resource advantage
competitive advantage over rivals
distinctive capability
22
You've got this!
focusing on the local environment in which they are operating
developing a thorough understanding of the external & internal environments
competing fiercely for a share in the market
building a bigger dealer network
23
Try again!
whether the org. has the industry's most efficient & effective value chain
what new acquisitions the company would need to make
a company's resource strengths & weaknesses to opportunities & threats.
whether the company's key success factors are more dominant than rivals
24
Are you ready?
A mission statement
A cost-price framework
A strategy
A market vision

BUS 470 Final Exam Flashcards | StudBud