What is horizontal diversification?
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The movement into an adjacent, or unrelated, market that is not along a
firm's own value chain.---- Adjacent market may mean selling the firm's
existing products to new customer groups, bringing new products/services
to existing customers, or selling new products/services to new customers.
How is VRIO used?
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A VRIO is an analysis of a firm's resources and capabilities. VRIO is used to
assess and determine which resources and capabilities are competitive
advantages of a firm (based on value and rarity) and the
durability/sustainability of those competitive advantages (based on
, inimitability and organized to exploit). It assesses the strength and
durability of a company's position in comparison to its competitors.
Explain the concepts of strategic groups and mobility barriers
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Strategic Groups are a set of companies that compete in similar ways with
similar business models pursuing similar sets of customers --------
Barrier to Mobility -- any factor that limits the ability of a company to move
between strategic groups; once a firm is in a particular group, it isn't mobile
and cannot jump to another group. This is because companies in specific
strategic groups choose particular ways to configure their activities and
these activity systems don't change quickly
........ mobility barriers may refer to barriers to movement from one strategic
group of firms within an industry to another group.
How is a global strategy different from a multidomestic strategy?
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A global strategy emphasizes global standardization and economies of
scale over-- local responsiveness. A strategy involving selling standardized
products, using standardized processes, around the world. (AGGREGATE
AND STANDARDIZE TO GAIN ECONOMIES OF SCALE)
A multidomestic strategy emphasizes local responsiveness over
standardization. A strategy involving tailoring products/services to local
markets (ADAPT TO FIT LOCAL MARKET)
What is the value chain?
Give this one a try later!
The movement into an adjacent, or unrelated, market that is not along a
firm's own value chain.---- Adjacent market may mean selling the firm's
existing products to new customer groups, bringing new products/services
to existing customers, or selling new products/services to new customers.
How is VRIO used?
Give this one a try later!
A VRIO is an analysis of a firm's resources and capabilities. VRIO is used to
assess and determine which resources and capabilities are competitive
advantages of a firm (based on value and rarity) and the
durability/sustainability of those competitive advantages (based on
, inimitability and organized to exploit). It assesses the strength and
durability of a company's position in comparison to its competitors.
Explain the concepts of strategic groups and mobility barriers
Give this one a try later!
Strategic Groups are a set of companies that compete in similar ways with
similar business models pursuing similar sets of customers --------
Barrier to Mobility -- any factor that limits the ability of a company to move
between strategic groups; once a firm is in a particular group, it isn't mobile
and cannot jump to another group. This is because companies in specific
strategic groups choose particular ways to configure their activities and
these activity systems don't change quickly
........ mobility barriers may refer to barriers to movement from one strategic
group of firms within an industry to another group.
How is a global strategy different from a multidomestic strategy?
Give this one a try later!
A global strategy emphasizes global standardization and economies of
scale over-- local responsiveness. A strategy involving selling standardized
products, using standardized processes, around the world. (AGGREGATE
AND STANDARDIZE TO GAIN ECONOMIES OF SCALE)
A multidomestic strategy emphasizes local responsiveness over
standardization. A strategy involving tailoring products/services to local
markets (ADAPT TO FIT LOCAL MARKET)
What is the value chain?
