COB 204 EXAM III (chapters 2, 8, 12 + some of 11) Questions & Answers Verified 100% Correct!!
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Course
COB 204
Institution
COB 204
Strategies for Competitive Advantage - ️️-cost leadership strategy
-differentiation strategy
-innovation strategy
-operational effectiveness strategy
-customer orientation strategy
Primary Activities - ️️the production and distribution of products and services.
These activities create...
COB 204 EXAM III (chapters 2, 8, 12 +
some of 11)
Strategies for Competitive Advantage - ✔️✔️-cost leadership strategy
-differentiation strategy
-innovation strategy
-operational effectiveness strategy
-customer orientation strategy
Primary Activities - ✔️✔️the production and distribution of products and services.
These activities create value for which customers are willing to pay
Big Picture of Organization - ✔️✔️Industry structure, competitive strategy, value
chains, business processes, information systems
Industry Structure - ✔️✔️Competitive Forces in your industry
Competitive Strategy - ✔️✔️How you decide to respond to the forces
Value chains - ✔️✔️Changes you make to your structure
Business Processes - ✔️✔️How those changes effect your processes
Porter's Competitive Forces Model - ✔️✔️Bargaining Power of Customers, Threats of
Substitutes, Bargaining Power of Suppliers, Threats of New Entrants
Industry wide - Cost - ✔️✔️Lowest cost across the industry (Walmart)
Industry Wide - differentiation - ✔️✔️Better product/service across the industry
Focus - Cost - ✔️✔️Lowest cost within an industry segment
Focus - differentiation - ✔️✔️Better product/service within an industry segment
Example: Customer orientation strategy - ✔️✔️Amazon customer order system
Two Categories of Activities in the Value Chain - ✔️✔️Primary Activities, Support
Activities
Support Activities - ✔️✔️contribute to the competitive advantage by supporting the
primary activities, but do not add value directly to the firm's products or services
Examples: Support Activities - ✔️✔️Administration and Management, Human
Resources Management, Product and Technology Development, Procurement
Porter's Value Chain Model - ✔️✔️where you make changes to your structure
Inbound Logistics - ✔️✔️Quality Control; raw materials control; supply schedules
Example:Automated warehouse systems
Operations / Manufacturing - ✔️✔️Manufacturing; packaging; production control;
quality control
Example:Robotics, computer controlled and aided equipment
Outbound Logistics - ✔️✔️Finishing goods; order handling; dispatch; delivery; invoicing
Example:Automated shipment scheduling systems
Customer Service - ✔️✔️Warranty; education and training; upgrades; service on
products
Example:Customer relationship management systems
Administration and Management - ✔️✔️Legal; accounting; finance; management
Examples: hire a lawyer, use Quick Books
Human Resources - ✔️✔️Personnel; recruiting; training; career development
Examples: Use internet to advertise job openings
Technology Development - ✔️✔️Engineering, software, hardware, research and
development (we leave this blank)
Procurement - ✔️✔️Supplier management, purchases products we buy but do not sell
Examples: order office supplies online; order janitorial uniforms from cleaning service
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