COB 204 Jewett Exam 1
Porter's Five Forces - ✔️✔️threat of entry
threat of substitute
supplier power
buyer power
competitive rivalry
Threat of New Entry - ✔️✔️Time and cost of entry
Specialist knowledge
Economies of scale
Cost advantages
Technology protection
Barriers to entry
Primary activities in the value chain - ✔️✔️Direct activities of producing, selling and
delivering outputs
Secondary activities in the value chain - ✔️✔️are not directly involved in the evolution
of a product but instead provide important underlying support for primary activities
E.g. management and legal
Who is more likely to suffer in a merger primary or secondary? - ✔️✔️Secondary
think* we dont need this many mangers now
Decision process first step - ✔️✔️Define problem/goal
What do I want to accomplish
Cognitive bias - ✔️✔️Selective perception "confirmation bias"
Stereotyping
Cheerleader effect
Value chain - ✔️✔️Sum of all activities to produce and deliver a good/service
Threat of Substitutes - ✔️✔️substitute performance
cost of change
Buyer Power - ✔️✔️Number of customers
Size of each order
Differences between competitors
Price sensitivity
Ability to substitute
, Cost of changing
Supplier Power - ✔️✔️number of suppliers
size of suppliers
uniqueness of service
your ability to substitute
cost of changing
Competitive Rivalry - ✔️✔️number of competitors
quality differences
other differences
switching costs
customer loyalty
Bull Whip Effect - ✔️✔️Small changes at the end of the supply chain (customer end)
lead to greater changes as you go back through the supply chain
Structured decision making - ✔️✔️Predictable and can be assigned numerical value
E.g. formal education and formulas
Unstructured decision making - ✔️✔️experience and general knowledge
Systems thinking - ✔️✔️Considers internal and external environment
Abstract thinking - ✔️✔️The ability to visualize something that isnt there
Model something
Perfect Competition - ✔️✔️a market structure in which a large number of firms all
produce the same product
E.g. agriculture, milk
Monopolistic Competition - ✔️✔️a market structure in which many companies sell
products that are similar but not identical
E.g. restaurants all sell prepared food but different types
Oligopoly - ✔️✔️A market structure in which a few large firms dominate a market
E.g. soda, oil, entertainment, and cars
Monopoly - ✔️✔️A market in which there are many buyers but only one seller
E.g. NFL and pharmacies
Porter's Five Forces - ✔️✔️threat of entry
threat of substitute
supplier power
buyer power
competitive rivalry
Threat of New Entry - ✔️✔️Time and cost of entry
Specialist knowledge
Economies of scale
Cost advantages
Technology protection
Barriers to entry
Primary activities in the value chain - ✔️✔️Direct activities of producing, selling and
delivering outputs
Secondary activities in the value chain - ✔️✔️are not directly involved in the evolution
of a product but instead provide important underlying support for primary activities
E.g. management and legal
Who is more likely to suffer in a merger primary or secondary? - ✔️✔️Secondary
think* we dont need this many mangers now
Decision process first step - ✔️✔️Define problem/goal
What do I want to accomplish
Cognitive bias - ✔️✔️Selective perception "confirmation bias"
Stereotyping
Cheerleader effect
Value chain - ✔️✔️Sum of all activities to produce and deliver a good/service
Threat of Substitutes - ✔️✔️substitute performance
cost of change
Buyer Power - ✔️✔️Number of customers
Size of each order
Differences between competitors
Price sensitivity
Ability to substitute
, Cost of changing
Supplier Power - ✔️✔️number of suppliers
size of suppliers
uniqueness of service
your ability to substitute
cost of changing
Competitive Rivalry - ✔️✔️number of competitors
quality differences
other differences
switching costs
customer loyalty
Bull Whip Effect - ✔️✔️Small changes at the end of the supply chain (customer end)
lead to greater changes as you go back through the supply chain
Structured decision making - ✔️✔️Predictable and can be assigned numerical value
E.g. formal education and formulas
Unstructured decision making - ✔️✔️experience and general knowledge
Systems thinking - ✔️✔️Considers internal and external environment
Abstract thinking - ✔️✔️The ability to visualize something that isnt there
Model something
Perfect Competition - ✔️✔️a market structure in which a large number of firms all
produce the same product
E.g. agriculture, milk
Monopolistic Competition - ✔️✔️a market structure in which many companies sell
products that are similar but not identical
E.g. restaurants all sell prepared food but different types
Oligopoly - ✔️✔️A market structure in which a few large firms dominate a market
E.g. soda, oil, entertainment, and cars
Monopoly - ✔️✔️A market in which there are many buyers but only one seller
E.g. NFL and pharmacies
