7 Written Questions
6 Multiple Choice Questions
- Threat of Substitute products, Bargaining power of supplier, bargaining power of buyer, threat of new entry, Rivalry among existing competitors.
- Having the ability to transform inputs into goods and services at a maximum profit on a sustained basis better than one's competitors. You want to be in imperfect competition
- Set of goals and policies designed to achieve competitive adv in a particular marketplace.
- Explains the essence of an organization-- why it exists, what it wants to be, who serves it, and why it should continue. contains:purpose, value, place in the world.
- ID keys sources of competitive adv. in terms of cost of differentiation for a particular product/market.
- Unique Products/ Services/ Delivery Channel... EX... (Toyota quality"residual value", Amazon, Zappos "no shipping", Weber Grills, lexus, Ralph lauren, rolex, Neiman Marcus.)))
6 True/False Questions
BCG Matrix → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
Environmental Sectors → Human Resources, Raw Materials, Financial Resources, consumer Mrkts, Technology Sector, Industry Sector, ****Economics and Government Sectors----Most important are the last two. All of this is analyzed by SWOT.
Three Grand Strategies → Cost Leadership, Differentiation, Focus
Functional strategies/ tactics → Explains the essence of an organization-- why it exists, what it wants to be, who serves it, and why it should continue. contains:purpose, value, place in the world.
Focus → Unique Product within a semented niche.. Particular product, end-user, or geography.. EX.. Rolls Royce, Ferrari, High end Golf courses, Tag Hauer, Edward Jones))
Cost Leadership → Selling your product at lower cost, High volume sales. Perceived value (price vs quality) EX...(State University, Jet Blue, Kia, Old Navy, TImex))