Defining the Organization's Strategic Direction
12 important questions on Defining the Organization's Strategic Direction
What are the 2 ways Porter's five-force model is used?
2. In practice it is used to assess a specific firm's external environment
What is vertically integration?
If a firm's product is highly differentiated, how will buyers experience the bargaining power?
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What are three things where a buyer typically experience a great bargaining power?
2. The firm faces switching costs to work with other buyers
3. Backward vertically integrate
What are three important things to consider for complements?
2. Whether complements are differentially available for the products or various rivals
3. Who captures the value offered by the complements
What is meant with the term core competencies?
What are 3 tests to identify the firm's core competencies?
2. Does it transcend a single business? Does it cover a range of businesses, both current and new?
3. Is it hard for competitors to imitate?
What are the 6 steps in order to identify the core competencies?
2. Construct an inventory of capabilities
3. Asses capabilities
4. Identify candidate competencies
5. Test candidate core competencies
6. Evaluate the core competency position
What is the risk of core rigidities?
What is meant with dynamic capabilities?
What are the conditions in order to be sustainable competitive advantage?
- Valuable
- Durable
- Inimitable
What are difficult properties of a company to imitate?
- Path-dependent (depending on history)
- Socially complex (resources that emerge through the interaction of multiple individuals)
- Causally ambiguous (it is unclear how the resource gives rise to value)
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