Exam3 - FC(Book) - steps without a clear articulation of...

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Culture Cost Leadership
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Usually implies tight control systems, overhead minimization, pursuit of scale economies, and dedication to the learning curve. Difficult to define set of norms and attitudes that help shape an organization; an important element of successful firms.
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Cost Leadership Differentiation
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May be facilitated by a culture encouraging innovation, individuality, and risk taking (i.e. Hewlett- Packard). May be facilitated by frugality, discipline, and attention to detail (i.e. Emerson Electric).
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Strategic Plan Culture
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A means of achieving competitive advantage, not an end in itself; no such thing as good or bad per se. The centerpiece of a firm’s strategic plan; in practice, however, they’re lists of action
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Unformatted text preview: steps without a clear articulation of what competitive advantage the firm has or seeks to achieve and how. Industry Structure Generic Strategy The route to competitive advantage that will determine its performance. The basis for its many elements is the array of competitor value chains; many elements can be diagnosed by analyzing the value chains of competitors in an industry. Differentiation; Integration Value Chain A basic tool for diagnosing competitive advantage and finding ways to create and sustain it. The separation of like activities is what organizational theorists call ____, while separation of organizational units comes the need to coordinate them, usually termed ____....
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This note was uploaded on 09/08/2011 for the course MAN 4720 taught by Professor Staff during the Spring '08 term at University of Central Florida.

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Exam3 - FC(Book) - steps without a clear articulation of...

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