A sustainable competitive advantage is the ability of an organization to

A sustainable competitive advantage is the ability of

This preview shows page 2 - 5 out of 33 pages.

15. A sustainable competitive advantage is the ability of an organization to perform the tasks it normally does well in the same way each time to perfect those activities. 16. Strategy implementation is putting strategic plans into effect, which means dealing with roadblocks within the organization’s structure and culture and seeing if the right people and control systems are available to execute the plans. 17. Many customers have visited Sally’s Diner for decades because of their friendly service. Most customers feel that Sally’s is the friendliest placed around. The friendly service at Sally’s is an example of a company _____.
18. Jeff, the owner of a toy store, is interested in developing a sustainable competitive advantage. To do this he needs to be responsive to customers and to stay ahead in ____. 19. Several studies found that strategic planning does not benefit smaller companies, as they very seldom see improvements in financial performance from this type of planning. 20. Johnson’s Fruit Farm is one of several stores in the county where customers can purchase locally grown fruits and vegetables. However, Mrs. Johnson also offers weekly workshops in her store on topics such as canning, healthy eating, and how to grow a garden, which no other store in the county does. By offering these unique workshops, the Johnsons are engaging in strategic positioning. 1. Strategic control includes ____. 2. One report reads that big companies, such as Amazon, Google, or Apple, "are no longer content simply to enhance part of your life. The new strategy is to build a device, sell it to consumers, and then ____." 3. Who are our customers? What are our major products or services? In what geographic areas do we compete? These are all questions that are answered in a good _____. 4. Pedro, CEO of a successful IT company, is constantly reading press releases, ads, and news articles about his competition, and he regularly checks information about new competitive products and visits trade shows to study his competition. Pedro is involved in____. 5. What is the assessment of the external environment? What are the critical issues facingthe business? Can the business execute the strategy? According to Bossidy and Charan,

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture