Lecture #2 Strategy & Technology Flashcards
What are the 4 characteristics of a resource that make it the source of competitive advantage & what do these create
1) Valuable
2) Rare
3) Imperfectly Imitable
4) Nonsubstitutable
What are Porters 5 Forces and what do they do?
They help in anaylsis of how a firm is situated in an industry
1-potential for new entrants 2-rivalry among existing competitors 3-power of buyers 4-power of suppliers 5-threat of substitute products and services
What are some different kind of barriers to entry
1-brand 2-regualtion 3-distribution channels 4-capital intensity 5-switching costs 6-network effects
What is Porters Model of Competitive strategy
a 2 X 2 grid with cost and differentiation labeling the columns and industry wide scope and focused scope on the rows
def of straddling
palyiong 2 strategies athe same time
def of pure play
focusing only on one strategy
What are the 5 models for analyzing a business?
- Porter’s 5 Forces Model for industry sturucture
2.Porter’s Model of Competitive
Strategy - Porter’s Value Chain Model
- any business process diagram(varies by company)
- 5-Component IS Framework
What are the 5 Primary function of Porter’s Value chain model in order & the 4 support functions & whats the diff bwn primary & suppport functuions & how do you increase profits
Primary touch product support dont Primaries are (inbound logistics, operations, outboundlogistics, marketing and sales, service) Support are (infastructure, HRM, Technology, procurement of mess that is not part of the product) increase profit by improving on any step in VC
Two things to know about the Business Process Model
Varies by company & is internally focused
What are the 5 components of the Information systems Framework
Hardware, SOftware, Data, Process, People
think of this as a spectrum that tends toward more human as you go right
What are Mental Models
the way people see themselves and how companies see themselves. This view influences them
