MGT 400 Capstone Complete Answers
Strategy ️A set of goal-directed actions a firm takes to gain and sustain superior performance relative
to competitors.
Strategic Management ️an integrative management field that combines analysis, formulation, and
implementation in the quest for compet...
MGT 400 Capstone Complete Answers
Strategy ✔️A set of goal-directed actions a firm takes to gain and sustain superior performance relative
to competitors.
Strategic Management ✔️an integrative management field that combines analysis, formulation, and
implementation in the quest for competitive advantage
Mastery of strategic management enables you to: ✔️• View a firm in its entirety.
• Think like a general manager.
• Position your organization for superior performance.
Part 1: Analysis: Strategic Leadership ✔️managing the strategy process
Part 1: Analysis: External Analysis ✔️Industry Structure, Competitive Forces, and Strategic Groups
Part 1: Analysis: interal analysis ✔️resources, capabilities, and core competencies
Part 2: formulation: business strategy ✔️Differentiation, Cost Leadership, and Blue Oceans; Innovation,
Entrepreneurship, and platforms
Part 2: formulation: corporate strategy ✔️vertical integration and diversification;
strategic alliances, mergers and acquisitions
Part 2: formulation: global strategy ✔️competing around the world
Part 3: Implementation: organizational design: ✔️structure, culture, and control;
, corporate governance and business ethics
A Good Strategy Is Based on Three Elements:
Diagnosis of the competitive challenge ✔️Analysis of the firm's internal and external environments
A Good Strategy Is Based on Three Elements:
A guiding policy to address the competitive challenge. ✔️• Formulation. • Results in corporate,
business and functional strategy.
A Good Strategy Is Based on Three Elements:
A set of coherent actions to implement the firm's guiding policy. ✔️• Implementation.
competitive advantage ✔️Superior performance relative to other competitors in the same industry or
the industry average.
relative, not absolute.
To assess competitive advantage: ✔️• Compare the firm to competitors in the same industry.
• Compare the firm to the industry average.
Sustainable Competitive Advantage
example: apple over samsung ✔️A firm that is able to outperform its competitors or the industry
average over a prolonged period.
Competitive Disadvantage ✔️A firm that underperforms its rivals or the industry average
Competitive Parity ✔️two or more firms that perform at the same level.
How to gain competitive advantage ✔️Provide goods or services consumers value more highly than
those of its competitors, or Provide goods or services similar to the competitors' at a lower price.
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