business-level strategy
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path the firm will follow to gain a competitive advantage by exploiting its
core competencies in a specific product market.
goal of an FMS
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eliminate the "low cost versus product variety" trade-off that is inherent in
traditional manufacturing technologies.
Threat of Substitute Products
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extent to which alternative products/services may replace the need for
existing products/services
Rare capabilities
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capabilities that few, if any, competitors possess
competitor analysis
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focuses on each company against which a firm competes directly
Intangible resources
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assets that are rooted deeply in the firm's history, accumulate over time,
and are relatively difficult for competitors to analyze and imitate
Examples: Knowledge, managerial capabilities, organizational routines,
brand name, and organizational culture
business model
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describes what a firm does to create, deliver, and capture value for its
stakeholders
how firms can earn above-average returns
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through the strategic management process
Risk
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Degree of uncertainty of return on an asset; in business, the likelihood of
loss or reduced profit.
Give this one a try later!
path the firm will follow to gain a competitive advantage by exploiting its
core competencies in a specific product market.
goal of an FMS
,Give this one a try later!
eliminate the "low cost versus product variety" trade-off that is inherent in
traditional manufacturing technologies.
Threat of Substitute Products
Give this one a try later!
extent to which alternative products/services may replace the need for
existing products/services
Rare capabilities
Give this one a try later!
capabilities that few, if any, competitors possess
competitor analysis
Give this one a try later!
focuses on each company against which a firm competes directly
Intangible resources
, Give this one a try later!
assets that are rooted deeply in the firm's history, accumulate over time,
and are relatively difficult for competitors to analyze and imitate
Examples: Knowledge, managerial capabilities, organizational routines,
brand name, and organizational culture
business model
Give this one a try later!
describes what a firm does to create, deliver, and capture value for its
stakeholders
how firms can earn above-average returns
Give this one a try later!
through the strategic management process
Risk
Give this one a try later!
Degree of uncertainty of return on an asset; in business, the likelihood of
loss or reduced profit.
