Resumen

Summary Strategic Management and Competitive Advantage - 6e editie - Jay Barney

0 veces vendidas

Grado
Strategic management

Institución
Strategic Management

Book
Strategic Management and Competitive Advantage

Samenvatting (in Engels) van het boek Strategic Management and Competitive Advantage, zesde editie, Jay Barney. Deze samenvatting bevat precies genoeg om alle theorie en concepten te beschrijven. Belangrijke modellen zijn opgenomen. Deze samenvatting bevat geen nutteloze voorbeelden of teveel infor...

[Mostrar más]

Vista previa 3 fuera de 23 páginas

Ver ejemplo

¿Un libro? Sí
Subido en 24 de octubre de 2022
Número de páginas 23
Escrito en 2022/2023
Tipo Resumen

strategic management
competitive advantage
jay barney
strategie
book
book summary
boek samenvatting
samenvatting
summary

Título del libro:Strategic Management and Competitive Advantage

Autor(es):Jay B Barney, William S. Hesterly

Edición:Desconocido
ISBN:9781292258041
Edición:Desconocido

Resumen
Strategic Management and Competitive Advantage: Summary
Notas de lectura
Bussiness administration

9,89 €

Añadir al carrito

Añadir a la lista de deseos

100% de satisfacción garantizada
Inmediatamente disponible después del pago
Tanto en línea como en PDF
No estas atado a nada

Strategic management
Part 1: the tools of strategic analysis
Chapter 1: What Is Strategy and the Strategic Management Process?
Strategy = how to gain competitive advantage
→ but how competition emerges and develops is unsure → so strategy is a firm’s
best bet about how competition is going to evolve and how that evolution can be
exploited for competitive advantage.
Strategic management process = a sequential set of analyses and choices that
can increase the likelihood that a firm will choose a good strategy

Mission = why do we exist = long-time purpose = what it wants to be in the long-run
and what it wants to avoid in the meantime = broad statements of its purpose and
values
Objectives = specific measurable targets a firm can use to evaluate the extent to
which it is realizing its mission
External analysis = identifying critical threats and opportunities in the competitive
environment, examines evolvement of competition and its implications
Internal analysis = identifies its organizational strengths and weaknesses, helps to
understand which resources and capabilities are likely to be sources of competitive
advantage and which are less likely. Also used to identify areas that require
improvement or change.
Strategic choices:
- Business-level strategies: actions to gain competitive advantages in a
single market or industry (cost leadership, product differentiation, flexibility
and real options, collusion)
- Corporate-level strategies: to gain competitive advantages by operating in
multiple markets or industries simultaneously (vertical integration,
diversification, strategic alliances + merger and acquisition etc.)
➔ Choose a strategy that: (1) supports the firm’s mission; (2) is consistent with a
firm’s objectives; (3) exploits opportunities in a firm’s environment with a firm’s
strengths; and (4) neutralizes threats in a firm’s environment while avoiding a
firm’s weaknesses

,Implement strategy: adopt organizational policies and practices that are consistent
with its strategy → (1) a firm’s formal organizational structure; (2) its formal and
informal management control systems; and (3) its employee compensation policies
Competitive advantage = create more economic value than rival firms → economic
value = difference between what customer is willing to pay and cost of producing
→ can be assessed by accounting performance or economic performance
→ competitive parity = same economic value as rivals → due to imitation
Revised strategic management process framework:

Assessing competitive advantage:
- Accounting measures
o Profit and loss + balance sheet
o Ratios (ROA, ROE, gross profit margin, liquidity and solvability ratios)
→ should be benchmarked against other firms or against standards
(financial numbers of last year)
o = easy to compute → information is publicly available
o Limitation: doesn’t take into account Cost of Capital (return promised to
suppliers of invested capital)
- Economic measures
o Compares a firm’s level of return to its cost of capital
o Cost of debt and cost of equity, also WACC

, Chapter 2: evaluating a firm’s external environment
General environment = broad trends in context within which a firm operates that
have impact on a firm’s strategic choices
Understanding this general environment can help a firm identify some of the threats
and opportunities it faces

Society is better off with very competitive industries:
- Firms must strive for low cost, keep quality high and innovate to survive
➔ Results in S-C-P model → this model analyzes threats and opportunities in
the competitive environment

Los beneficios de comprar resúmenes en Stuvia estan en línea:

Garantiza la calidad de los comentarios

Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!

Compra fácil y rápido

Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.

Enfócate en lo más importante

Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!

Preguntas frecuentes

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

100% de satisfacción garantizada: ¿Cómo funciona?

Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller jellegolbach. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for 9,89 €. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

45,681 summaries were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 15 years now

Empieza a vender

Resumen

Summary Strategic Management and Competitive Advantage - 6e editie - Jay Barney

Información del documento

Temas

Libro relacionado

Más resúmenes para

Escuela, estudio y materia

Vendedor

Vista previa del contenido