ADMS 1000 Lecture Notes - Lecture 3: Quality Control, Lululemon Athletica, Joint Venture

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Indira Somwaru

Document Summary

Note: both steps have short and long term planning. Walmart can get cheaper deals due to size. A perso(cid:374) that has i(cid:374)(cid:448)esti(cid:374)g i(cid:374)to the (cid:862)apple e(cid:272)osyste(cid:373)(cid:863) has high switching costs: ex. A facebook user with 1000+ friends have a high switching cost to another social media platform because they would have to leave behind their 1000+ friends. Cost disadvantages independent of scale: ex. Are there many suppliers: the more suppliers there are -> the less power suppliers have. The number of incumbents relative to the number of buyers. What is a substitute: anything that can be replaced, can act in place of a product. Management is committed to a certain strategy. Assumes that power relationships are the same in each force. The vrio model: analyzing the internal environment (value, rareness, imitability and organization) Physical/assets: capabilities, usi(cid:374)g the fir(cid:373)"s resources and capabilities to exploit the market. Rareness: what firms do different from other firms.