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OBC1
CHAPTER 8 (SM)
| Question | Answer |
|---|---|
| Skills & resources that foster cost leadership | Sustained capital investment & access to capital, process engineering skills, intense labor or core technical operations, products or services designed for ease of manufacture or delivery, low cost distribution system |
| Organizational requirements to support & sustain cost leadership activities | Tight cost control, frequent detailed control reports, continuous improvement 7 benchmarking orientation, structured organization & responsibilities, incentives based on meeting strict usually quantitative targets |
| Risks of cost leadership | many cost saving activities are easily duplicate, exclusive cost leadership can be a trap, obsessive cost cutting can shrink other competitive advantages, cost differences often decline overtime |
| differentiation | Requires that the business have sustainable advantages that allow it to provide buyers w/ something uniquely valuable to them |
| Speed based strategies | Rapid response to customer requests or market & tech changes have become a major source of competitive advantage for numerous firms in today's intensely competitive global economy |
| Risks of speed based strategy | Speeding up activities that haven't been conducted in fashion that prioritizes rapid response should only be done after considerate attention to training, reorganization, & or reengineering |
| Market focus | The extent to which a business concentrates or narrowly defined market, niches, some comets on basis of low cost differentiation & rapid response |
| Emerging industries | Newly formed or reformed industries that typically are created by technological innovation newly emerging customer needs or other economic or sociological changes |
| Declining industries | Those that make products or services for which demand is growing slower than demand in the economy as a whole |
| Fragmented industry | No firm has a significant market share & can strongly influence industry outcomes |
| Global industries | One that comprises firms whose competitive positions in major geographic or national markets are fundamentally affected by their overall global competitive positions |
| 4 generic competitive strategies | Broadside global competition, global focus strategy, national focus strategy, protected niche strategy |
Created by:
nashanta
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