Strategic Management Important Questions
1. Define Business Level Strategy integrated and coordinated set of commitments and actions the firm uses to aim a competitive advantage by exploiting core competencies in specific product markets. indicates the choiced the firm has made about how it intends to compete in individual product markets is the core strategy - the strategy that the firm forms to describe how it intends to compete in the product market customers are the foundation of successful business level strategies and should never be taken for granted. in terms of customers whenselecting a business level strategy , the firm determines (1) who will be served (2) what needs those target customers have that it will satisfy and (3) how those needs will be satisfied.
PURPOSE OF BUSINESS LEVEL STRATEGY
- create differences between the firm 's position and those of its competitors.
- "choosing to peform activities differently or to perform different activities than rivals" is he essence of business level strategy successful use of a business level stratey results only when the firm learns how to integrate the activities it performs in ways that create superior value for customers.
2. Relationship between customers and business level strategies in terms of who what and how strategic competitiveness results only when the firm satisfies a group of customers by using its competitiveness advantages as the basis for competing in individual product markets. a key reason firms must satisfy customers with their business-level strategy is that returns earned from relationships with customers are the lifeblood of all organizations. strong interactive relationships with customers often provide foundatioons for the firm 's efforts to profitably serve customer 's unique needs.
Example Harra 's Entertainment amazon.com Reach Richness and Affliation
- The reach dimension of relationship with customers is concerned with the firm 's access and connection to customers. In short, the firm seek to extend
PURPOSE OF BUSINESS LEVEL STRATEGY
- create differences between the firm 's position and those of its competitors.
- "choosing to peform activities differently or to perform different activities than rivals" is he essence of business level strategy successful use of a business level stratey results only when the firm learns how to integrate the activities it performs in ways that create superior value for customers.
2. Relationship between customers and business level strategies in terms of who what and how strategic competitiveness results only when the firm satisfies a group of customers by using its competitiveness advantages as the basis for competing in individual product markets. a key reason firms must satisfy customers with their business-level strategy is that returns earned from relationships with customers are the lifeblood of all organizations. strong interactive relationships with customers often provide foundatioons for the firm 's efforts to profitably serve customer 's unique needs.
Example Harra 's Entertainment amazon.com Reach Richness and Affliation
- The reach dimension of relationship with customers is concerned with the firm 's access and connection to customers. In short, the firm seek to extend