Business Strategy Notes VRIO Framework1 The VRIO Framework and the Resource-Based View2 In the last three weeks we have looked at how firms can get a competitive advantage. Today we focus primarily on the sustainability of a firm’s competitive advantage. That is‚ what determines whether a firm’s competitive advantage will be short-lived or whether it will endure a long time? We will consider this question within Barney’s VRIO framework (outlined below) within the resource-based view. Under the resourced-based
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possible success or failure of particular strategies. Scenarios are detailed and plausible views of how the environment of an organization might develop in the future based on key drivers of changes about which there is a high level of uncertainty. Porter’s five Forces Framework Porter’s five forces theory analyses the competition that surrounds a company‚ measuring its intensity and helping this same company finding solutions to adapt its strategy depending on the type of existing competition
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Chuck Smith From: XXXX Date: June 22‚ 2012 Re: A.1. Steak Sauce: Lawry’s Defense Case Analysis I apologize for missing Friday’s meeting; I heard that we got quite the news! I reached out several members on the cross-functional team to get all caught up. From what I have gathered‚ thus far is that you received an email from Susan Connor regarding the Publix account. She made us aware that Publix is considering promoting Lawry’s new steak sauce in the Memorial Day ad unless we are prepared to
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A1 Steak Sauce and Marinades | To: | Smith‚ Chuck | From: | | CC: | | Date: | | Re: | Lawry’s Defense | Comments: | Issue Lawry is attempting to release a new steak sauce that should penetrate the market by early April. Obviously a new player in the market is not a major concern to A1/Kraft‚ having over 50 percent of the market share. The best case scenario for Lawry is that they will only gain ten percent of the market share. The direct threat for A1 lies with Lawry’s marketing
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knowledge. Xbox don’t use personal selling because they don’t need to pay a salesman to sell their product because they already have a reputation in the market. Perhaps many years ago when the business wasn’t as reputable they may have had door to door sales men or the my have used flyers to get there business known. Apple also don’t use personal selling because they already advertise on TV‚ and also because they already have a very good reputation in the market which means it is not
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Business-Level Strategies There are four generic strategies that are used to help organizations establish a competitive advantage over industry rivals. Firms may also choose to compete across a broad market or a focused market. We also briefly discuss a fifth business level strategy called an integrated strategy. 1. Cost Leadership – Organizations compete for a wide customer based on price. Price is based on internal efficiency in order to have a margin that will sustain above average returns
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Is there any link between Corporate Social Responsibility‚ Blue Ocean Strategy & Competing for the Future? Discuss. Corporate Social Responsibility Corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Companies have a lot of power in the community and in the national economy. They control
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There are five type of business strategies and each type had its own risk when selecting and implementing it. For cost leadership strategy‚ the risks that are associate with this strategy are a loss of competitive advantage to newer technologies‚ which allows rivals to produce at lower cost‚ a failure to detect changes in customers’ need and the ability of competitors to imitate the cost leader’s competitive advantage through their own unique strategic actions. Competitors sometimes do learn to imitate
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Overview of the Outback Case Study Analysis The authors of the Outback Goes International study‚ (hereinafter the “Study” or “Case”) depict a restaurant company‚ Outback Steakhouse‚ (“Outback”‚ the “Business”‚ or the “Company”) that by 1995 had experienced significant growth over the prior seven years. The Case addresses how management identified international expansion and product diversification as the principle elements of a strategic plan formulated to continue rapid expansion. This report
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9. What recommendations would you make to Howard Schultz to sustain the company’s growth and support continued strong financial performance in the years ahead? Consider both the US and International strategies. • Lower Prices- In order to reach more consumers who may shy away from Starbucks due to their high coffee prices Starbucks may want to think about slightly lowering their prices. This would help to reach more consumers who don’t feel comfortable with the current high prices. Alternatively
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