Business Strategy Game Revision Questions and Answers| Graded A+

Corporate level broadest and longest timeframe; answers what or which business are we going to compete in Business level shorter timeframe narrower in scope; how are we going to compete in this industry Functional level deal with specific functional areas in an organization (marketing, engineering, accounting) Operational day to day strategies Strategic competitiveness achieved when a firm successfully formulates and implements a value creating strategy Competitive advantage your firm does something better than anybody else or it does something so great no one else can duplicate Globalization and tech two drivers of hypercompetition Hypercompetition tool to help companies deal with this is strategic flesibility Global competition goods, services, people, skills and ideas moving freely across geographic borders Developing global competition is an increasing importance of ______ countries and emerging market countries Performance standards global competition has ______ _______ and increasing levels of performance standards around the world Disruptive technologies says we have to do away with existing tech to make room for new tech IO model external model Resource based internal model External model is looking at the environment and industry (porters 5 forces)