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18 Cards in this Set
- Front
- Back
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1. Cost leadership
2. Differentiation 3. Innovation 4. Growth 5. Alliance 6. Other |
6 types of competitive strategies
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1. Rivalry of competitors
2. Threat of new entrants 3 Threat of substitutes 4. Bargaining power of customers 5. Bargaining power of suppliers |
5 types of competitive forces
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Cost leadership strategy
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becoming a low-cost producer of products and services in the industry or finding ways to help suppliers or customers reduce costs or increase costs of competitors
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Differentiation strategy
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-developing ways to differentiate a firm's products and services from those of its competitors or reduce differentiation advantages of competitors
-may allow a firm to focus its products or services to give advantage in particular segments or niches of a market |
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Innovation strategy
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finding new ways of doing business
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Growth strategies
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significantly expanding company's capacity to produce goods and services, expanding into global markets, diversifying into new products and services, or integrating into related products and services
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Alliance strategies
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establishing new business linkages and alliances with customers, suppliers, computers, consultants, and other companies
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Primary processes of value chain
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business activities directly related to manufacture of products or delivery of services to customer
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Support processes of value chain
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business activities that help support day-to-day operation of the business and indirectly contribute to products or services of organization
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self-directed cross-functional or multi-disciplinary process teams
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teams made up of employees from several departments or specialties that work on the product development process
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case managers
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handle almost all tasks in a business process instead of splitting tasks among many different specialists
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1. Customer
2. Partnering 3. Operational |
3 types of agility
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Customer agility
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ability to co-opt customers in exploitation of innovation opportunities
-as sources of innovation idea -as cocreators of innovation -as users in testing idea or helping other users learn about the idea |
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Partnering
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ability to leverage assets, knowledge, and competencies of suppliers, distributors, contract manufacturers, and logistics providers in exploration and exploitation of innovation opportunities
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Operational
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ability to accomplish speed, accuracy, and cost economy in exploitation of innovation opportunities
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1. share infrastructure and risk with alliance partners
2. link complimentary core competencies 3. reduce concept-to-cash time through sharing 4. increase facilities and market coverage 5. gain access to new markets and share market or customer loyalty 6. migrate from selling products to selling solutions |
6 strategies of virtual companies
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knowledge-creating companies
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companies that consistently create new business knowledge, disseminating it widely throughout company, and quickly building new knowledge into their products and services
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knowledge management systems (KMS)
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-manage organizational learning and business know-how -help knowledge workers create, organize, and make available important business knowledge
-facilitate organizational learning and knowledge creation -designed to provide rapid feedback -encourage behavior changes by employees -significantly improve business performance |
