Lecture%201%20Strategy%20Overview

Lecture%201%20Strategy%20Overview - CHAPTER 1 Basic...

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Mgt 4199, Spring 2009 1-1 STRATEGIC MANAGEMENT 4199 CHAPTER 1 Basic Concepts of Strategic Management
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Mgt 4199, Spring 2009 1-2 Basic Concepts of Strategic Management Why Corporate Strategy Create and sustain a competitive advantage Competition is the Orientation of Strategy We compete with our entire “Task” Environment Porter’s Five Forces
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Spring 2009 3 Five-Force Model Source:  Michael Porter Potential entrants Substitutes Suppliers Buyers Rivalry among existing firms Threat of substitutes Buying power of purchasers Bargaining power of suppliers Possibility of new arrivals Industry competitors Provides a useful way to think about competition in industry Rivalry among existing firms Potential new entrants Threat of substitute products Bargaining power of buyers & suppliers
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Mgt 4199, Spring 2009 1-4 Basic Concepts of Strategic Management Globalization Internationalization of markets and corporations Global (worldwide) markets rather than national markets
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Lecture%201%20Strategy%20Overview - CHAPTER 1 Basic...

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