Apple and McDonalds: Analyze the strategies.

Question 1

Resources:

Answer 1

(1) Tangible Assets: Cash, Inventory, Vehicles, Equipment, Buildings, Investments)
(2) Intangible Assets (Knowledge, Trademarks, Patents, Franchises, Copyright, Software, Licensing)

Question 2

Capabilities:

Answer 2

The ability to deploy resources effectively (Customer service)

Question 3

Core Competencies:

Answer 3

Resources + capabilities that create competitive advantage

Question 4

How do you use core competencies effectively?

Answer 4

Identify, enhance, exploit

Question 5

What were the core competencies used in the WIll’s Grill Case?

Answer 5

Experience, passion, commitment, relationships, food preparation and sourcing

Question 6

What does it mean for a company to be VRIO?

Answer 6

(1) Valuable (If not, this is a competitive disadvantage)
(2) Rare (If not, but valuable, this is a competitive parity)
(3) Costly to Imitate (If not, but V&R, then this is a temporary competitive advantage. If V,R,&C, then this is a sustained competitive advantage)
(4) Organized to Capture Value

Question 7

For what purpose is the SWOT Analysis used?

Answer 7

To identify strengths, weaknesses, opportunities, and threats

Question 8

What is the difference between business model and strategy?

Answer 8

Ausiness model refers to the logic of the firm, the way it operates and how it creates value for its stakeholders. Strategy refers to the choice of business model through which the firm will compete in the marketplace.

Question 9

Why is it cost-leadership and not price-leadership?

Answer 9

Cost leadership means having the lowest operational cost in an industry and market. Price leadership means having the lowest price.

Question 10

Job Specialization:

Answer 10

Dividing tasks into jobs, Identify the activities that need to be performed in order to achieve organizational goals
The break down these activities into tasks that can be performed by individuals or groups of employees.