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MGMT 466 > Chapter 3: Internal Org. > Flashcards

Chapter 3: Internal Org. Flashcards

1
Q

sustainable competitive advantage: 3 factors

A
  1. rate of core competency obsolescence
  2. availability of substitutes for core competencies
  3. imitability of core competencies
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2
Q

by analyzing internal organization => determine

A

what can do & what might do -> insights to select strategies

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3
Q

volkswagen “strategy 2008”

A

international strategy and global mindset

use resources to form technological and innovation capabilities => (2 core competencies) 1. superior customer service 2. product quality

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4
Q

2 most important sources of comp. adv

A
  1. cc
  2. product mkt placement
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5
Q

3 challenges of internal analysis

A
  1. decisions = non-routine, ethical implications, influence ability to earn avg. > return
  2. mistake: thinking a capability is a core competency when its no. (ex. polaroid)
  3. 3 conditions affect managerial decisions => require judgment (exec -> 1. reputation 2. loyalty)
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6
Q

3 challenges of internal analysis: 3 conditions affect managerial decisions

A
  1. uncertainty
  2. complexity
  3. intraorg. conflict
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7
Q

3 challenges of internal analysis: 3 conditions affect managerial decisions: uncertainty

A

increases complexity & range of issues

  1. new proprietary tech
  2. rapid changing trends
  3. transformations in societal values
  4. shifts in customers demands

plus “5” biases

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8
Q

example: subway and amazon

A

ABL resources

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9
Q

tangible resources

A
  • hard to leverage
  • add’l value
  • unique/intangible attributes
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10
Q

4 categories of tangible resources

A
  1. financial
  2. organizational
  3. physical
  4. technological
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11
Q

which resource is the superior source

A

intangible

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12
Q

3 categories of intangible resources

A
  1. Human resources/capital
  2. innovation resources
  3. reputational resources
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13
Q

3 categories of intangible resources: human resources/capital

A
  • knowledge
  • trust
  • skills
  • abilities to collaborate with others
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14
Q

3 categories of intangible resources: innovation resources

A
  • ideas
  • scientific capabilities
  • capacity to innovate
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15
Q

3 categories of intangible resources: reputational resources

A
  1. brand name
  2. positive reputation with stakeholders
  3. perceptions of product quality, durability, reliability
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16
Q

intangible resources

A

can be leveraged

invisible, unobservable

17
Q

capabilities - 7 functional areas

A
  1. distribution
  2. HR
  3. MIS
  4. MKTG
  5. MGMT
  6. manufacturing
  7. R&D
18
Q

example: walmart

A

capabilities: distribution & MIS

19
Q

example: microsoft

A

capabilities: HR

20
Q

example: ralph lauren, mckinsey, P&G, nordstoms, crate and barrel

A

capabilities: marketing

21
Q

example: zara, hugo boss

A

capabilities: management

22
Q

example: komatsu, witt gas technology, sony

A

capabilities: manufacturing

23
Q

example: caterpillar, otis, chaparral steel, thomson consumer electronics

A

capabilities: R&D

24
Q

building core competencies (2 tools)

A
  1. 4 criteria of sustainable comp adv.
  2. value-chain analysis
25
Q

4 criteria of sustainable comp. adv.

A
  1. valuable (customer POV)
  2. rare (customer POV)
  3. costly to imitate (competitor POV)
  4. nonsubstitutable (competitor POV)
26
Q

costly to imitate: 3 reasons

A
  1. unique historical conditions
  2. causually ambiguous
  3. social complexity
27
Q

outcomes from combinations of the 4 criteria for sustainable comp adv: competitive consequences

A
  1. comp disadvantage
  2. competitive parity
  3. temporary comp adv.
  4. sustainable comp adv.
28
Q

competitive consequence: competitive disadvantage

A

NOT: valuable, rare, costly to imitate, nonsubstitutable

=> below average %

29
Q

competitive consequence: competitive parity

A

valuable and nonsubstitutable

NOT: rare or costly to imitate

=> average returns

30
Q

competitive consequence: temporary competitive adv.

A

valuable, rare, nonsubstitutable

NOT: costly to imitate

=> avg. < or equal returns

31
Q

competitive consequence: sustainable competitive adv

A

valuable, rare, costly to imitate, nonsubstitutable

=> avg. < returns

32
Q

(valuable) capabilities must allow the firm to:

A

(1) perform any activity in a manner that provides superior value

or

(2) perform VCA that competitors cannot perform

33
Q

relationships with customers

A

aka “social capital”

  • knowledge transfer
  • access to external resources
34
Q

outsourcing: goals

A
  1. increases flexibility
  2. mitigates risk
  3. reduces capital investments
35
Q

outsourcing: only activities where they _________ => outsource

A
  1. cannot create value
  2. where they are at a substantial disadv. compared to competitors
36
Q

outsourcing: 2 issues to consider

A
  1. innovation
  2. technology uncertainty
37
Q

external environment conditions -> CCs -> change:

A
  1. core rigidities
  2. generate inertia
  3. stifle innovation
38
Q

CCs (internal) + opportunities (external) =>

A

strategic competitiveness and above avg returns

MGMT 466 (12 decks)

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