What is a key success factor?
Is a key asset or requisite skill that all firms in an industry must possess in order to be a viable
What are strategic groups?
A subset of firms which, because of similar strategies, resources, and capabiliti
1. What is strategic or Critical thinking?
Chunking- unconsciously grouping info into a smaller number of meaningful chunks based on
patterns an individual has seen before
Addressing the Competition:
Analysis and Recommendation
By Product Development Team
Poor Allocation of Resources
Lower our employees salaries dramatically
Dilute the staples of our current product line
123 Main Street Anytown, CO, USA
What factors increase industry dynamics?
Industry life cycle: pattern of evolution followed by an industry inception to current and future
What is the industry life cycle?
It is the pattern of evolution followed b
Second movers- not synonymous with late movers and for that reason the many effective second
movers approaches are characterized as fast followers, even if the elapsed time btwn first and
second mover is several years or more.
A firm might prefer a se
What is a new-market-creation strategy? (blue ocean strategy)
An important characteristic of a market creation strategy is that is shifts strategic focus from
head to head competition to the creation of new markets. Essentially, the creation of a new
1. What is market segmentation? What role does it play in strategic positioning?
Differentiation strategy in practice requires that executives properly perceive market
segmentation-identifying specific subgroups of buyers who have distinguishable need
1.What do we mean by generic strategies?
Porters generic strategies identify four positions- general low cost, general differentiation,
focused cost leadership and focused differentiation. Porters generic strategies are referred to as
What is strategic management?
Process by which firm manages the formulation and implementation of its strategy.
What are the key components of the strategic management process?
Vision and mission, goals and objectives, strategy (strategic analysis),
Why is strategic leadership important for the effective strategy formulation and implementation?
What does a strategic leader do to influence and impact the organization? Strategic leadership is
involved and concerned with the management of the over
What are resources? How do different types of resources differ?
Resources are the tangible and intangible factor inputs used by firms to create products or
services. Tangible: land, plants, equip etc Intangible: Not physical in nature, branding of t
What is a firms value chain? How does it figure into a firms competitive advantage?
A firms value chain it the total of primary and support value adding activities by which a firm
produces, distributes, and markets a product.
Primary value adding act
Strategic Plan- CU Athletics Strategy
The learning objective is to practice writing the one-pager using a real organization's
strategic plan, which prepares you for next Wednesday's exam.
Put yourself in the place of the manager responsible for this busin