33:620:302- Midterm Exam Guide - Comprehensive Notes for the exam ( 41 pages long!)

• School: Rutgers University
• Department: Management and Global Business
• Course: 33:620:302
• Professor: B Sexton

Document Summary

Macro environment: the broad e(cid:374)(cid:448)iro(cid:374)(cid:373)e(cid:374)tal (cid:272)o(cid:374)te(cid:454)t i(cid:374) (cid:449)hi(cid:272)h a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s i(cid:374)dustr(cid:455) is situated that includes strategically relevant components that a firm has no direct control of. Industry environment is attractive if there is a good opportunity to make an above average profit. Ksfs (key success factors): degree of risk. Issues and problems that should be focused on. Is the firm an above average performer: growth rate, rate of acquiring and retaining customers. Image and reputation: growing financial strength and credit rating, leadership in factors relevant to success, continuing improvement. Threats on resources and capabilities: rivals produce a better substitute, capabilities decay from neglect, disruptive competitive environment change. Managing capabilities dynamically: attending the ongoing medication of existing competitive assets, anticipating changes, taking advantage of opportunities to develop new capabilities. Competence: an activity a firm learned to perform with proficiency it becomes a capability. Core competence: i(cid:374)ter(cid:374)al a(cid:272)ti(cid:448)it(cid:455) (cid:272)e(cid:374)tral to a fir(cid:373)"s strateg(cid:455) Distinctive competence: competence activity central to a fir(cid:373)"s strateg(cid:455)