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Management

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Study Guide 1. Strategy integrated/coordinated commitment and actions to exploit competencies gain a CAand –resources of ca and CA, choices are driven by external/internal sources, capabilities, core competencies. competitive advantage it creates superior value for customers sth others unable to imitate or find costly to imitate , and above-average returns –what investors expect from others as well given similar risks Strategic competiveness: is achieved when a firm successfully a value creating strategy. 2. Drivers of the competitive landscape changing, blurring boundaries, financial capital are more scarce and mrkt increasing volatile eco measure return over capital , managerial mind-set, ad spend. Most important, global economy and tech changing Highpercompetition: increasing aggressive econ moves and instable assumption of market replaces stable notion 3. The I/O perspective external (opportunity/threaten) (SASAS) study external especially industry, locate attractive industry, strategu formation, develop skills, implement strategy) and the resource-based view (study internal, capabilities, potentials in terms of ca, attractive, strategy)(internal, strength/weakness) (each company is a collection of unique resources-input,employees,patents,finances,managers and capabilities-capacity for resources to perform a task in intergrated manner, unique-> above avg returns) Io Is assumed: external highly constrain and pressure to create above avg return; similarity; highly mobile; rational and act for best interest-profit max 4. Stakeholders ppl affect firm’s vision and mission and affected by outcomes achieved, enforceable claims on company’s performaces (1 capital –shareholders and major capital supplier like BANK, 2 product market generally satisfiled with profit margin with banlance of return to market shareholders capital...

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