Business Policy Chapter 5-8
DISCUSSION QUESTIONS What is the relevance of the resource-based view of the firm to strategic management in a global environment? it permits the organization to be seen as a whole
In doing so, the strengths and weaknesses within the firm can be examined. This is done because as stated in the Hunger & Wheelen (2006, 106) text, "scanning and analyzing the external environment for opportunities and threats is not enough to provide an organization a competitive advantage."
five-step, resource-based approach to strategy analysis:
1) Identify and classify the firm's resources in terms of strengths and weaknesses.
2) Combine the firm's strengths into specific capabilities and core competencies.
3) Appraise the profit …show more content…
What industry forces might cause a propitious niche to What are the advantages and disadvantages of being a disappear? Is it possible for a company or business unit to follow a cost leadership strategy and a differentiation strategy simultaneously? Why or why not?
Is it possible for a company to have a sustainable competitive advantage when its industry becomes hyper- competitive? first mover in an industry? Give some examples of first mover and late mover firms. Were they successful?
Why are many strategic alliances temporary?
STRATEGIC PRACTICE EXERCISE
Select an industry to analyze. Identify companies for each of Porter’s four competitive strategies. How many different kinds of differentiation strategies can you find?
Cost Leadership: ________________________________________________________________________________________ Differentiation: _________________________________________________________________________________________ Cost Focus: ____________________________________________________________________________________________ Differentiation Focus: