the similarities and differences in the ways in which this week’s articles explain performance differences among firms? From the articles describing various theories of a firm’s performance, there are a few common themes and a few minor differences focusing on definitions. In viewing the articles, we find that all of the authors state that the primary difference in performance of firms is the management of internal resources. The management of resources includes the development, acquisition, integration
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Competitive Advantage Creating and Sustaining Superior Performance Author: Michael E. Porter Michael E. Porter's Competitive Advantage explores the underpinnings of competitive advantage in the individual firm. Porter's groundbreaking concept of the value chain disaggregates a company into "activities," or the discrete functions or processes that represent the elemental building blocks of competitive advantage. Giving readers a comprehensive understanding of business strategy and
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Sustainable Competitive Advantage Approach Calveta whish is operating dining services is provide their services in senior living market by managing the food service operation to the senior living facilities (SLFs) in the United States. Calveta is very experience in preparing the healthy and nutritious food for old people that is suitable for the residence in the senior living facilities (SLFs). Other than Calveta, there are several players in the senior living market that providing dining service
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It has been said that there is no such thing as a sustainable competitive advantage. Do you agree? Why or why not? I Disagree First what is ment by competitive advantage and maintaining a Sustainable, competitive advantage? Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. Sustainable, competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time
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The resource based literature has stressed the importance of firm-specific human capital which is likely to generate organizational rents, since those assets are more likely to be unique, sporadic, and thus a better basis for sustainable advantage. However psychological literature supports that generalized investments have value for the firm through it’s effects on worker’s commitment to the firm. This paper examines the impact of firm’s specificity in human capital versus generalization commitment
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PORTER'S DIAMOND OF NATIONAL ADVANTAGE What is the Diamond Model? Description The Diamond Model of Michael Porter for the competitive advantage of Nations offers a model that can help understand the comparative position of a nation in global competition. The model can also be used for major geographic regions. Traditional country advantages Traditionally, economic theory mentions the following factors for comparative advantage for regions or countries: 1. Land 2. Location 3. Natural
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that supports that statement. Second, a statement is made and justified, which positions the firm, relative to the competition, within the industry. Third, position the firm of interest, compared to the competition. Summary Industry: "The general environment is favorable/unfavorable to the ______ industry." Give the specific locations of opportunities and threats that will appear. Firm Position:"The general environment is favorable/unfavorable to _______." ============================================================
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Unit 3 Individual Project Dana J. Walker Strategic Management October 13, 2013 American Intercontinental University Abstract The following paper will be a comparison of the advantages and disadvantages of the first mover theory and the last mover theory. It will show examples of real firms that have been either successful or a failure as they have employed one of the theories at their company. In my conclusion I will give my recommendation on which theory I think should be used and I
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today’s competitive global economy strategic alliances are a crucial option for achievement of competitive advantage. By developing strategic alliances, organisations can share their excess or complementary resources and capabilities so as to strengthen their position in the market and gain competitive advantage. When such alliances are effectively and efficiently managed the partnering firms can gain immensely towards mutual profitability. In any cooperative relationship trust is key for success
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Environment: the broad trends in the context within which a firm operates tha can have an impact on a firm’s strategic choices. (6 elements: tech change, demographic trends, cultural trends, economic climate, legal/political conditions, specific international events) Technological Change: creates both opportunity, as firms begin to explore how to use technology to create new products and services, and threats, as technological change forces firms to rethink their technological strategies. Demographics:
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