BMGT 301 Study Guide - Midterm Guide: Knowledge Extraction, Customer Retention, User Friendly

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 301
• Professor: Karake

Document Summary

Bmgt 301 spring 2017: 37 questions, 7-9 questions on excel. Review for first exam: chapter 1,2,3, and 4 plus all additional topics discussed in class. Sustainable competitive advantage: financial performance that consistently outperforms industry averages. Operational effectiveness: performing the same tasks better than rivals perform them. Fast follower exists when: savvy rivals watch a pioneer"s efforts, learn from their successes and missteps, then enter the market quickly with a comparable or superior product at a lower cost, before the first mover can dominate. Strategic positioning: performing different tasks than rivals or the same tasks in a different way. Straddling: when a firm attempts to match the benefits of a success position while maintaining its existing position. True sustainable advantage comes from assets and business models that are simultaneously (resource-based theory): Role of technology: technology can play a key role in creating and reinforcing assets for sustainable advantage. Levels of information systems information systems serve various management levels in companies.