BMGT 304 Strategic Management Mid Term || with Error-free Solutions.

BMGT 304 Strategic Management Mid Term
|| with Error-free Solutions.
TheBkeyBsuccessBfactorsBinBanBindustryB-
BareBthoseBcompetitiveBfactorsBthatBmostBaffectBindustryBmembers'BabilitiesBtoBprosperBinBt

heBmarketplace—
theBparticularBstrategyBelements,BproductBattributes,BoperationalBapproaches,Bresources,B
andBcompetitiveBcapabilitiesBthatBspellBtheBdifferenceBbetweenBbeingBaBstrongBcompetitorB
andBaBweakBone,BandBbetweenBprofitBandBloss.

GoodBintelligenceBaboutBtheBstrategicBdirectionBandBlikelyBmovesBofBkeyBcompetitorsBallow
sBaBcompanyBtoBdetermineBwhichBcompetitorsBhaveBallBofBtheBfollowingB-
BsimilarBcompetitiveBapproaches




InBanalyzingBdrivingBforces,BtheBstrategist'sBroleBisBtoB-
BidentifyBtheBdrivingBforcesBandBevaluateBtheirBimpactBonB(1)BdemandBforBtheBindustry'sBpro

duct,B(2)BtheBintensityBofBcompetition,BandB(3)BindustryBprofitability

TheBtaskBofBdriving-forcesBanalysisBisBtoB-
BidentifyBtheBdrivingBforces,BassessBwhetherBtheirBimpactBwillBmakeBtheBindustryBmoreBorBle

ssBattractive,BandBdetermineBwhatBstrategyBchangesBareBneededBtoBprepareBforBtheBimpac
tsBofBtheBdrivingBforces

TheB"drivingBforces"BinBanBindustryB-
BareBmajorBunderlyingBcausesBofBchangingBindustryBandBcompetitiveBconditionsBandBhaveB

theBbiggestBinfluencesBinBreshapingBtheBindustryBlandscapeBandBalteringBcompetitiveBcond
itions

AsBaBrule,BtheBcollectiveBimpactBofBcompetitiveBpressuresBassociatedBwithBtheBfiveBcompet
itiveBforcesB-BdeterminesBtheBextentBofBtheBcompetitiveBpressureBonBindustryBprofitability

WhichBofBtheBfollowingBisBNOTBoneBofBtheBfiveBtypicalBsourcesBofBcompetitiveBpressures?B-
BTheBpowerBandBinfluenceBofBindustryBdrivingBforces




TheBmostBpowerfulBofBtheBfiveBcompetitiveBforcesBisBUSUALLYB-
BtheBcompetitiveBpressuresBassociatedBwithBtheBmarketBmaneuveringBandBjockeyingBforBb

uyerBpatronageBthatBgoesBonBamongBrivalBsellersBinBtheBindustry

WhatBmakesBtheBmarketplaceBaBcompetitiveBbattlefieldBis:B-
BtheBconstantBrivalryBofBfirmsBtoBstrengthenBtheirBstandingBwithBbuyersBandBwinBaBcompetiti

veBedgeBoverBrivals.

, ABcompany'sB"macro-environment"BrefersBto:B-
BtheBstrategicallyBrelevantBfactorsBoutsideBaBcompany'sBindustryBboundaries—

economicBconditions,BpoliticalBfactors,BsocioculturalBforces,BtechnologicalBfactors,Benviron
mentalBfactors,BandBlegal/regulatoryBconditions.

WhichBofBtheBfollowingBisBNOTBoneBofBtheBmanagerialBconsiderationsBinBdeterminingBhowB
toBcompeteBsuccessfully?B-
BHowBcanBaBcompanyBmodifyBitsBentireBproductBlineBtoBemphasizeBitsBinternalBserviceBattri

butes?

ABcompany'sBstrategyBconsistsBofBtheBactionBplanBmanagementBisBtakingBto:B-
BstakeBoutBaBuniqueBmarketBpositionBandBachieveBsuperiorBprofitability.




TheBobjectivesBofBaBwell-craftedBstrategyBrequireBmanagementBtoBstriveBto:B-
BdevelopBlastingBsuccessBthatBcanBsupportBgrowthBandBsecureBtheBcompany'sBfutureBoverB

theBlongBterm.

ToBimproveBperformance,BthereBareBmanyBdifferentBavenuesBforBoutcompetingBrivalsBsuch
Bas:B-

BconfiningBoperationsBtoBlocalBorBregionalBmarketsBorBdevelopingBproductBsuperiorityBorBco

ncentratingBonBaBnarrowBproductBlineup.

EveryBstrategyBneeds:B-
BaBdistinctiveBelementBthatBattractsBcustomersBandBproducesBaBcompetitiveBedge.




TheBheartBandBsoulBofBaBcompany'sBstrategy-makingBeffortBisBdeterminingBhowBto:B-
BcomeBupBwithBmovesBandBactionsBthatBproduceBaBdurableBcompetitiveBedgeBoverBrivals.




AdaptingBtoBnewBconditionsBlikeBnewBinnovationsBbyBcompetitors,Bfast-
changingBtechnologicalBdevelopments,BandBconstantlyBevaluatingBwhatBisBworkingBresultBi
n:B-BanBemergentBstrategy.

ChangingBcircumstancesBandBongoingBmanagerialBeffortsBtoBimproveBtheBstrategy:B-
BaccountBforBWhyBaBCompany'sBStrategyBEvolvesBoverBTime.




GoodBstrategyBcombinedBwithBgoodBstrategyBexecution:B-
BisBtheBclearestBindicatorBofBgoodBmanagement.




TheBcustomerBvalueBpropositionBlaysBoutBtheBcompany'sBapproachBto:B-
BsatisfyingBcustomerBwantsBandBneedsBatBaBpriceBcustomersBwillBconsiderBaBgoodBvalue.




WhileBthereBareBmanyBroutesBtoBcompetitiveBadvantage,BtheBtwoBbiggestBfactorsBthatBdisti
nguishBoneBcompetitiveBstrategyBfromBanotherBare:B-
BwhetherBaBcompany'sBtargetBmarketBisBbroadBorBnarrowBandBwhetherBtheBcompanyBisBpur

suingBaBlowBcostBorBdifferentiationBstrategy.