BU479 Lecture Notes - Lecture 3: Project Charter, Exponential Growth, Market Orientation
Document Summary
Bridgit: non-technical co-founders, strategy based on marketing research, adapted to changing market. Its not a black and white definition of yes it is high tech no it isn"t. Strategic market planning process: assess resources and competencies. Resources: tangible, intangible assets, competencies vs core competencies (a firm likely has more competencies and fewer core competencies, core competencies are things that you wouldn"t want to outsource and how you build your competitive advantage) Competitive advantage: superiority (customer value, resource rareness), sustainability (durability, imitability: answer key strategic questions (who are our customers, what is our value proposition) Which strategy type is best: some research that shows that 47% of first movers fail where more fast followers succeed, however every company and industry is different. Core capabilities differ by company type: software, manufacturing, retail (amazon): distribution channels, product depth and breadth, It depends on what your industry, company, market, etc. , to determine which orientation is best to use.
