GEB 4890 Final - Part 2 Latest Graded A+ 2024 UPDATE

GEB 4890 Final - Part 2 Latest Graded A Blue Ocean strategy - Offensive strategy that seeks to gain dramatic new competitive advantage by inventing a new industry or market segment that renders existing competition largely irrelevant and allows a company to create altogether new demand in the absence of competitors - Market space, where the industry has not yet taken shape, with no rivals, wide-open, long- term growth and profit potential for a firm that can create a demand for new types of products Vertically Integrated strategy - A firm that participates in multiple segments or stages of an industry's overall value chain - Can expand the firms range of activities backward into its sources of supply or forward toward end users of its products Benefits of Outsourcing - Helps in outperforming rivals in strategy-critical activities - Decrease bureaucracies - Flatten structure - Speed up decision making - Shortens response time to changing market conditions - Adds to a firm's capabilities - Contributes to better strategy execution through partnerships with suppliers and channel partners Risks of Outsourcing - Lose some control - Hidden costs - Security risks - Reduce quality control