Chapter 6 - Chapter 6 1. Specify the components of...

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Chapter 6 1. Specify the components of sustainable competitive advantage and explain why it is important. The components of sustainable competitive advantage are: valuable resources, rare resources, imperfectly imitable resources, no substitutable resources. Sustainable competitive advantage is important because if a company has sustainable competitive advantage it means that other companies shave tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate. In other words, having this type of competitive advantage helps companies be on top compared to its competitors obviously being more profitable. 2. Describe the steps involved in the strategy making process. There are three steps of the strategy making process. The first step is to assess the need for strategic change, in which competitive inertia should be avoided and strategic dissonance should be important too. The second step is to conduct situational analysis by making a SWOT analysis, which lists the strengths, weaknesses, opportunities and threats. Finally, the third step is to choose
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This note was uploaded on 03/10/2011 for the course MAN 3025 taught by Professor Dr.t during the Spring '11 term at St. Petersburg College.

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Chapter 6 - Chapter 6 1. Specify the components of...

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