Busm 361

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Busm 361

• Strategic Advantage

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Questions

• What is competitiveness?
• How do different firms compete?
• Dell vs. Apple
• Southwest vs. United
• McDonalds vs. Burger King vs. Fuddruckers
• Mercedes vs. Toyota

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Competitive Advantage Through

• Differentiation
• Low cost
• Response

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Mission/Strategy

• Mission - where you are going
• Strategy - how you are going to get there

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Strategy Process
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Competing on Differentiation

• Uniqueness - can go beyond both the physical
  characteristics and service attributes to
  encompass everything that impacts customers
  perception of value

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Competing on Cost

• Maximum value as defined by customer
• Does not imply low value or low quality

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Competing on Response

• Flexible
• Reliable
• Quick
• Requires institutionalization within firm of
  ability to respond

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Impetus for Strategy Change

• Changes in the organization
• Stages in the product life cycle
• Changes in the environment

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Discipline

• Often overlooked necessity
• Eye of the Tiger