Premium Essay

Rothaermel Exercise 1

In: Business and Management

Submitted By mslady72
Words 1732
Pages 7
Rothaermel Exercise 1

BUSI 690

29 June 2014

Discussion Question 1.1 (2 parts to this question):

1.1. A strategy is a term used to describe the firm’s “overall efforts to gain and sustain competitive advantage” (Rothaermel, 2013, p. 9). The “translation of the strategy into action takes place in the firm’s business model, which details the firm’s competitive tactics and initiatives” (Rothaermel, p. 11). Basically, a strategy will explain how a firm will make money but the difference between a strategy and the business model is the business model explains how the firm intends to make the money AND puts it into action; the strategy just gives the theory. Business models put strategy into action. A strategy focuses on the company in relation to its competition and the business model focuses on the company in isolation.
1.1a. How they are similar is both business strategies and business models look toward a firm’s future and are both essential in decision-making within a company. A firm’s strategy and business model working hand in hand becomes the nuts and bolts behind how a firm intends to achieve its overall goal, which is to make and increase profit.

Discussion Question 1.2 (3 part to this question):

1.2a. Crowdsourcing is defined as “the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers” (Merriam-Webster, 2014). The word is a combination of the words 'crowd' and 'outsourcing' and the idea is to take work and outsource it to a crowd of workers. Dell is keen on offering this service because the business model is awesome and translates real-time market research and design contests into quick sales. Crowdsourcing platform brings a human element, saves times and internal resources. Dell would be...

Similar Documents

Premium Essay

Rothaermel Exercise 1

...Rothaermel Exercise 1 Perry Blankenship Liberty University Chapter 1 1. How is strategy different from a business model? A) Rothaermel (2013) defines a strategy as: “The goal-directed actions a firm intends to take in its quest to gain and sustain a competitive advantage,” (p.6). Rothaermel also defined a business model as: “An organizational plan that details the firm’s competitive tactics and initiatives, or how the firm intends to make money,” (p.11). The strategy is the theory the organization plans to utilize in achieving their goals while the model is their actions of implementing their strategy. Casadesus-Masanell and Ricart (2010) explained in their research that the strategy of a business is implemented by the leaders in choosing the business model they will follow. When organizations are looking for what customers they will reach and what the customer values, they are utilizing a business model. When they want to achieve the goal of reaching these customers they must develop a strategy for achieving that goal. B) How is it similar? Both the strategy and the business model strive to achieve the organizational goals and give the organization a competitive advantage. “The business model is the reflections of the realized strategy,” (Casadesus-Masanell and Ricart, 2010, p.204). 2. Why do you think Dell is keen on offering this service? A) The new crowdsourcing allows the consumer to have more control of the design and development of their......

Words: 1771 - Pages: 8

Premium Essay

Rothaermel Exercise 1

...Rothaermel Exercise 1 BUSI 690 29 June 2014 Discussion Question 1.1 (2 parts to this question): 1.1. A strategy is a term used to describe the firm’s “overall efforts to gain and sustain competitive advantage” (Rothaermel, 2013, p. 9). The “translation of the strategy into action takes place in the firm’s business model, which details the firm’s competitive tactics and initiatives” (Rothaermel, p. 11). Basically, a strategy will explain how a firm will make money but the difference between a strategy and the business model is the business model explains how the firm intends to make the money AND puts it into action; the strategy just gives the theory. Business models put strategy into action. A strategy focuses on the company in relation to its competition and the business model focuses on the company in isolation. 1.1a. How they are similar is both business strategies and business models look toward a firm’s future and are both essential in decision-making within a company. A firm’s strategy and business model working hand in hand becomes the nuts and bolts behind how a firm intends to achieve its overall goal, which is to make and increase profit. Discussion Question 1.2 (3 part to this question): 1.2a. Crowdsourcing is defined as “the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers”......

Words: 1732 - Pages: 7

Premium Essay

Rothaermel Exercise

...Rothaermel Exercise Discussion Question 1.1: The implementations and concept behind a firm’s business strategy and business model both depict two separate structural dimensions. However, these important elements of organizational designs are strongly intertwined. In fact, the goal of increasing the brand’s value will not be realized in the absence of the other. According to Chun & Lee (2013), an effective business model framework shapes the fundamental structure of the business as a whole. In contrast, strategy deals with the method in which the model can increase the firm’s ability to build and sustain competitive advantage. Business models illustrate how an organization is structured to maximize its resources towards gaining profits. It is evident then that the business model is entirely separate from the drive to engage the competitors inside a specific target market. Nevertheless, the effort to find relevance among consumers—highly complex and deeply influenced by the current societal needs, wants, and demands—an effectual business strategy must be engaged (Rothaermel, 2013). The business strategy describes how the company will engage competitors, recognize segment, and take action base on market behavior. Strategies carry a unique method of how businesses in the same market compete to win consumers. The main agenda behind business models is to structure the most fundamental design to build a solid starting point for strategic actions. Both aspects of...

Words: 1949 - Pages: 8

Premium Essay

Business Strategy

...College of Computer Training (CCT) Assignment Cover Page Module Title: Assignment Title: Lecturer Name: Student Name: Student No.: Assignment Due Date: Academic Year: Year 1 Year 2 Year 3 DECLARATION [pic] Business Strategy Assignment 1-4 Lecturer Name:Charlie Dayman Student Name: XIANG XIANG LIN, CHEN CHEN HE CLEBER ALMEIDA, NAMIR EL MULHIM Student Number: 2012855, 2012979, 2012939, 2012840 17th December, 2013 Table of Contents 1. Introduction---------------------------------------------------------------------------------5 2. Task 1-----------------------------------------------------------------------------------------5 2.1 explain the meaning of strategy, strategic contexts and the terminology associated with business strategy----------------------------------------------------5 2.2 outline and comment on the issues involved in strategic planning----------8 2.3 explain different planning techniques---------------------------------------------9 3. Task 2----------------------------------------------------------------------------------------16 3.1 producing an ‘organizational audit’ for an organization of Apaches Pizza & Lam Take Away-------------------------------------------------------------------16 3.2 carrying out an ‘environmental audit’ for Apaches Pizza & Lam Take......

Words: 9677 - Pages: 39

Premium Essay

Majestica Hotel

...Journal of International Business Studies (2009) 40, 1411–1431 & 2009 Academy of International Business All rights reserved 0047-2506 www.jibs.net The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership Jan Johanson1 and Jan-Erik Vahlne2 1 2 Uppsala University, Uppsala, Sweden; Gothenburg University, Gothenburg, Sweden Correspondence: J Johanson, Uppsala University, PO Box 513, SE-751 20, Uppsala, Sweden. Tel: þ 46 859255215; E-mail: jan.johanson@fek.uu.se Abstract The Uppsala internationalization process model is revisited in the light of changes in business practices and theoretical advances that have been made since 1977. Now the business environment is viewed as a web of relationships, a network, rather than as a neoclassical market with many independent suppliers and customers. Outsidership, in relation to the relevant network, more than psychic distance, is the root of uncertainty. The change mechanisms in the revised model are essentially the same as those in the original version, although we add trust-building and knowledge creation, the latter to recognize the fact that new knowledge is developed in relationships. Journal of International Business Studies (2009), 40, 1411–1431. doi:10.1057/jibs.2009.24 Keywords: internationalization theories and foreign market entry; network relations theory; experiential knowledge; commitment; trust; opportunity Received: 10 July 2007 Revised: 15......

Words: 15873 - Pages: 64

Free Essay

Reference

...Academy of Management Journal 2006, Vol. 49, No. 5, 894–917. WHEN DOES TRUST MATTER TO ALLIANCE PERFORMANCE? REKHA KRISHNAN Simon Fraser University XAVIER MARTIN NIELS G. NOORDERHAVEN Tilburg University We examine how uncertainty moderates the trust-performance relationship in alliances, building on the distinction between behavioral uncertainty, which relates to anticipating and understanding partners’ actions, and externally caused environmental uncertainty. We argue that trust matters more to performance under behavioral uncertainty and less under environmental uncertainty. In data from 126 international alliances, the positive relationship between trust and performance is stronger under high behavioral uncertainty and weaker under high environmental uncertainty. We conclude that partners should concentrate on developing interorganizational trust where potential improvement in alliance performance justifies this effort, which in turn depends on the type of uncertainty faced. Strategic alliances blur firm boundaries and create mutual dependence between previously independent firms (McEvily, Perrone, & Zaheer, 2003). A distinctive characteristic of strategic alliances is that partners have to deal not only with the uncertainty in their environment but also with the uncertainty arising from each other’s behavior (Harrigan, 1985). Because of partners’ dependence on each other, previous research has emphasized the importance of relational factors for the smooth......

Words: 16326 - Pages: 66

Premium Essay

Nick

...The impacts of E-commence on international business and marketing: A literature review Name student: Tao Yi Student number: 1192930 Course name: Master thesis international track Course code: 2012-191880750-1A Assessor: Assistant Prof. Dr. E. Constantinides and Dr. Huub J.M. Ruel Hand in date: 15-09-2012 E-commerce and Web 2.0: An intensive literature review on their impacts on international business and marketing Table of content Managerial summary ............................................................................................ 2 1. Background and research objectives .............................................................. 3 2. Research problem and research questions...................................................... 4 3. Research methodology ................................................................................... 6 4. Key findings .................................................................................................. 8 4.1. 4.1.1. 4.1.2. 4.1.3. 4.2. 4.2.1. 4.2.2. 4.3. 4.4. 4.4.1. 4.4.2. 4.4.3. 4.5. 4.5.1. 4.5.2. 4.5.3. 4.6. The impacts of Internet on International business and marketing .................................. 8 The impacts on international business ......................................................................... 8 The impacts on international entrepreneurship ............................................................ 9 The impacts on international companies‟ marketing ................................

Words: 21450 - Pages: 86

Premium Essay

Tech

...Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright @ 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008 and 2005. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOC/DOC 1 0 9 8 7 6 5 4 3 2 1 0 ISBN 978–0–07–338018–6 MHID 0–07–338018–0 Vice President & Editor-in-Chief: Martin Lange Vice President EDP & Central Publishing Services: Kimberly Meriwether David Global Publisher: Raghothaman Srinivasan s Sponsoring Editor: Debra B. Hash ma Tho Developmental Editor: Lora Neyens . f Dr...

Words: 60653 - Pages: 243

Premium Essay

Essential of Strategic Management

...Featuring Wal-Mart Wal-Mart’s Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2)......

Words: 223966 - Pages: 896

Premium Essay

Essentials-of-Strategic-Management-by-Hill-Jones

...Featuring Wal-Mart Wal-Mart’s Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2)......

Words: 223966 - Pages: 896

Free Essay

Disruptive Technology

...McKinsey Global Institute May 2013 Disruptive technologies: Advances that will transform life, business, and the global economy The McKinsey Global Institute The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, was established in 1990 to develop a deeper understanding of the evolving global economy. Our goal is to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports have covered more than 20 countries and 30 industries. Current research focuses on four themes: productivity and growth, the evolution of global financial markets, the economic impact of technology and innovation, and urbanization. Recent reports have assessed job creation, resource productivity, cities of the future, and the impact of the Internet. MGI is led by McKinsey & Company directors Richard Dobbs and James Manyika. Yougang Chen, Michael Chui, Susan Lund, and Jaana Remes serve as MGI principals. Project teams are led by a group of senior fellows and include consultants from McKinsey’s offices around the world. These teams draw...

Words: 80396 - Pages: 322

Premium Essay

Strategic Management

...SIXTH EDITION STRATEGIC MANAGEMENT IN ACTION Mary Coulter Missouri State University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editor in Chief: Stephanie Wall Senior Acquisitions Editor: April Cole Editorial Project Manager: Claudia Fernandes Director of Marketing: Maggie Moylan Senior Marketing Manager: Nikki Ayana Jones Marketing Assistant: Gianna Sandri Senior Managing Editor: Judy Leale Production Project Manager: Kelly Warsak Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Creative Director: Blair Brown Senior Art Director: Kenny Beck Text Designer: LCI Design Cover Designer: LCI Design Cover Art: Svetoslav Iliev/Shutterstock.com Permission Specialist: Brooks Hill-Whilton Media Project Manager, Production: Lisa Rinaldi Senior Media Project Manager, Editorial: Denise Vaughn Full-Service Project Management and Composition: Integra Printer/Binder: RRD/Willard Cover Printer: Lehigh-Phoenix Color Text Font: 10/12, Times LT Std Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2013, 2010, 2008 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights...

Words: 154599 - Pages: 619