BUSI 4609 MIDTERM EXAM STUDY GUIDE Fall 2018
Lecture 1 1. Factors affect firms longevity a. Hyper competition i. Rapid escalation of competition ii. Blur industry boundary iii. CA not effective iv. Solution ▪ Use price quality positioning to build presence ▪ Create new know how ▪ Protect establish market b. Global marketplace i. Resource move freely across geographic borders ii. Higher economic interdependence iii. Higher opportunity to compete c. Globalization i. Continuous improvement and higher standard for productivity ii. Customer: higher quality, lower price iii. Competition: lower product development time iv. Learn domestic and global market and modify v. Need success in domestic first d. Technology change i. Higher rate of technology diffusion and emerge disruptive technology ii. Information age iii. Higher knowledge intensity ▪ Learn to capture intelligence ▪ Transform intelligence knowledge ▪ Use in organizational learning ▪ Diffuse into organizational learning: no insight iv. Perpectual innovation: rapid and consistent new technology replace older ones v. Strategic flexibility ▪ Cope with uncertainty and risk ▪ Overcome organizational inertia first ▪ Develop capacity of continuous learning and apply new skills to firms’ CA vi. Competitiveness success factor ▪ Market or customer need oriented ▪ Have entrepreneurial opportunistic mindset ▪ Make effective use of valuable competences ▪ Offer innovate products find more resources at oneclass.com find more resources at oneclass.com
2.Predict outcome a.Profit pool = earn profit in industry along value chain b.Locate most promising area of industry value chain c.Step i.Define pool boundary ii.Estimate overall size iii.Estimate size of value chain activity iv.Reconcile calculation 3.Definition 4.Competitive profile matrix a.Identify major Strength and weakness b.Reason i.Reveal strength and weakness ii.Indicate at CA iii.Identify possible attack iv.Identify defensive attack find more resources at oneclass.comfind more resources at oneclass.com
Lecture 2 1. Strategic implication Unattractive Ideal Rivalry High Moderate Entry barrier Low High Substitute Strong None Bargaining power High Low Con ▪ Static pressure of competition ▪ Low emphasize on individual difference ▪ High emphasize in industry Solution: ▪ Insulate firm from competitive force ▪ Influence pressure favor company ▪ High competitive advantage 2. 5 forces analysis a. assess each force’s strength b. rank 1-10 c. explain how each force act to create competitive pressure d. interpret final score e.
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