Lecture #2 Strategy & Technology Flashcards Preview

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Flashcards in Lecture #2 Strategy & Technology Deck (11):
1

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

2

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

3

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

4

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

5

def of straddling

palyiong 2 strategies athe same time

6

def of pure play

focusing only on one strategy

7

What are the 5 models for analyzing a business?

1. Porter’s 5 Forces Model for industry sturucture
2.Porter’s Model of Competitive
Strategy
3. Porter’s Value Chain Model
4. any business process diagram(varies by company)
5. 5-Component IS Framework

8

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

9

Two things to know about the Business Process Model

Varies by company & is internally focused

10

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

11

What are Mental Models

the way people see themselves and how companies see themselves. This view influences them