MGT 8803 - Business StrategY
(detailed & elaborated)
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
Strategy - CORRECT ANSWER-goal-directed actions a firm takes to gain & sustain superior
performance relative to competitors.
Competitive advantage - CORRECT ANSWER-superior performance relative to other competitors
in same industry OR industry average | temporary
*people prefer your brand over another's so they are willing to pay more (ie, Apple)
Elements of Good Business Strategy - CORRECT ANSWER-1. diagnosis of competitive challenge
2. guiding policy to address competitive challenge
3. set of coherent actions to implement
Cost Leadership - CORRECT ANSWER-lowest-cost producer in industry | pricing at or below
industry avg while leveraging a low "cost" advantage
Differentiation - CORRECT ANSWER-economic value created is greater than competitors |
uniqueness in an industry with broad market | making products unique to allow charging
premium price
,How Tesla does Differentiation - CORRECT ANSWER-battery technology, autonomous driving,
high performance, supercharger network, wow factor
Focus strategy - CORRECT ANSWER-establish either a cost leadership OR differentiation
competitive advantage but focused in a narrow market segment (ex: Rolex, Louis Vuitton)
Vision - CORRECT ANSWER-mgt's description of business model, technology, workforce,
strategic positioning, and goals | for inspiring employees & stakeholders
Mission - CORRECT ANSWER-how firm will achieve vision | product OR customer market focus
Core Values - CORRECT ANSWER-guiding principles of firm | support company's vision, shape
culture, & reflect company's identity & personality
Business Model Framework - CORRECT ANSWER-Value Delivery
Value Creation
Value Capture
(DCC)
Value Delivery - CORRECT ANSWER-customer-centric | specific customer needs being addressed
by product/service | how customers are organized into segments | marketing channels | how
relationships are formed with customers
Value Creation - CORRECT ANSWER-creates value & supports product/service post-sales | focus
on business ops | core competencies | resources required for activities/capabilities | strategic
resources
Strategic resources - CORRECT ANSWER-assets of the firm (tangible, intangible) that are
important to a firm's competitive advantage
, Core competencies - CORRECT ANSWER-unique capabilities of a firm to enable delivery &
support of competitive advantage
Key activities - CORRECT ANSWER-most important things the business does to be successful
Value Capture - CORRECT ANSWER-expenses, revenues, capital requirements, cost structure
Revenue models - CORRECT ANSWER-retail | transaction | rental/lease | usage | advertising &
sponsorships | affiliate marketing | brokerage | subscription/membership | licensing
Technology-fueled NEW Revenue Models - CORRECT ANSWER-data driven (ex: FB, LinkedIn) & e-
commerce:
*sharing economy (AirBNB)
*aggregators
*virtual goods
*in-app purchases
*group buying
*crowd sourcing (Kickstart)
*auction (eBay)
*long-tailed product assortments (Amazon, Netflix)
Design factors: Cost Leadership - CORRECT ANSWER--highly efficient
-minimum overhead
-operational excellence, efficient supply chains, technology, & vendor rationalization
-minimal organizational frills
-minimum marketing cost
(detailed & elaborated)
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
Strategy - CORRECT ANSWER-goal-directed actions a firm takes to gain & sustain superior
performance relative to competitors.
Competitive advantage - CORRECT ANSWER-superior performance relative to other competitors
in same industry OR industry average | temporary
*people prefer your brand over another's so they are willing to pay more (ie, Apple)
Elements of Good Business Strategy - CORRECT ANSWER-1. diagnosis of competitive challenge
2. guiding policy to address competitive challenge
3. set of coherent actions to implement
Cost Leadership - CORRECT ANSWER-lowest-cost producer in industry | pricing at or below
industry avg while leveraging a low "cost" advantage
Differentiation - CORRECT ANSWER-economic value created is greater than competitors |
uniqueness in an industry with broad market | making products unique to allow charging
premium price
,How Tesla does Differentiation - CORRECT ANSWER-battery technology, autonomous driving,
high performance, supercharger network, wow factor
Focus strategy - CORRECT ANSWER-establish either a cost leadership OR differentiation
competitive advantage but focused in a narrow market segment (ex: Rolex, Louis Vuitton)
Vision - CORRECT ANSWER-mgt's description of business model, technology, workforce,
strategic positioning, and goals | for inspiring employees & stakeholders
Mission - CORRECT ANSWER-how firm will achieve vision | product OR customer market focus
Core Values - CORRECT ANSWER-guiding principles of firm | support company's vision, shape
culture, & reflect company's identity & personality
Business Model Framework - CORRECT ANSWER-Value Delivery
Value Creation
Value Capture
(DCC)
Value Delivery - CORRECT ANSWER-customer-centric | specific customer needs being addressed
by product/service | how customers are organized into segments | marketing channels | how
relationships are formed with customers
Value Creation - CORRECT ANSWER-creates value & supports product/service post-sales | focus
on business ops | core competencies | resources required for activities/capabilities | strategic
resources
Strategic resources - CORRECT ANSWER-assets of the firm (tangible, intangible) that are
important to a firm's competitive advantage
, Core competencies - CORRECT ANSWER-unique capabilities of a firm to enable delivery &
support of competitive advantage
Key activities - CORRECT ANSWER-most important things the business does to be successful
Value Capture - CORRECT ANSWER-expenses, revenues, capital requirements, cost structure
Revenue models - CORRECT ANSWER-retail | transaction | rental/lease | usage | advertising &
sponsorships | affiliate marketing | brokerage | subscription/membership | licensing
Technology-fueled NEW Revenue Models - CORRECT ANSWER-data driven (ex: FB, LinkedIn) & e-
commerce:
*sharing economy (AirBNB)
*aggregators
*virtual goods
*in-app purchases
*group buying
*crowd sourcing (Kickstart)
*auction (eBay)
*long-tailed product assortments (Amazon, Netflix)
Design factors: Cost Leadership - CORRECT ANSWER--highly efficient
-minimum overhead
-operational excellence, efficient supply chains, technology, & vendor rationalization
-minimal organizational frills
-minimum marketing cost
