Lecture #2 Strategy & Technology Flashcards Preview

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

What are the 4 characteristics of a resource that make it the source of competitive advantage & what do these create

3)Imperfectly Imitable


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?

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