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19 Cards in this Set
- Front
- Back
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VRIST-- MUST BE ALL 5 for extraordinary resources
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Valuable (low cost structure, enhanced product, enhance abilities)
Rare (or perceived as rare) Substitution (imitation deals with durability) Tradable (difficult to transfer to new company) |
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Durability
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Historical, Causal Ambiguity (difficult for comp. to understand resource cause/effect), Social Complexity (relationships)
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Types of Extraordinary Resources
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knowledge, social, human, financial, organizational, technological, physical
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Resource-Based Analysis
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-allows each resource to be examined for potential for competitive advantage
-listing/capabilities (intangible and tangible) -use VRIST to differentiate listings |
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Business Level Strategies
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Low cost, differentiation, integrated
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market scope for overarching philosophy of value creation- generic strategies
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broad and Focused/narrow
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Parity Conditions
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must maintain relatively equal in price, value as competitors
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low-cost
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broad scope, ONE low cost leader, NOT low price
when? -rivalry (convergence of products) -when we have strong buyer/supplier power - offsets new entrants /substitutes b/c we can lower price |
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differentiation
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most widely used, unique value for customers
when? -rivalry if consumers do not uniformly demand a common product, use differentiation -buyer concentration doesnt exist or little power -supplier diversity of needs exists -new entrants and subs, hardly any |
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What are internal types of analysis?
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SWOT, Value Chain, Resource-Based
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SWOT
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Strengths, Weaknesses, Opportunities, Threats
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Benefits of SWOT
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-Easy
-Alignment with different categories -Overall Direction -Competitive analysis -Strong Starting Point |
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Drawbacks of SWOT
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-Laundry list
-Subjective -Relevant? -Static view |
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Value Chain
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systematic way of examining activities (support and core) and coordination between the two which create value compared to competitors
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Benefits of Value Chain
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-Shows what leads to Strengths and Weaknesses
-more predictable path of development -dynamic -spotlight on activities -more actionable information for management |
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Drawbacks of Value Chain
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-hard to quantify (ABC costing)
-more focus on internal, less on market |
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3 ways of Providing Value
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greater benefits for same price, same benefits for a reduced price, mixture
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General Environment Forces: STEEPG
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Social
Techno. Econo. Environ. Pol/leg Global |
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Porters 5 Forces
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Threat of New Entrants, Rivalry , Threat of Substitutes, Buyer power, Supplier power
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