Day 1 Porter What is Strategy Abstract- pg 62 Flashcards
1
Q
delivering greater value allows a company to do what in its quest for superior profitability ?
A
charge higher average unit prices
2
Q
the activities that go into creating, producing, ____ and delivering a product or service are the basic units of competitive advantage
A
selling,
3
Q
dramatic operational _____ have resulted from tools but rarely have these gains translated into sustainable profitability
A
improvements
4
Q
Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to the of a strategy
A
sustainability
5
Q
Today’s dynamic markets and technologies have called into question the sustainability of competitive _____
A
advantage
6
Q
the essence of strategy is choosing a unique and valuable position rooted in systems of ____ that are much harder to match
A
activities
7
Q
competitive convergence is when companies become indistinguishable from one another due to ____and tools like benchmarking
A
competition
8
Q
Operational effectiveness is performing the activities that make up competitive advantage how ?
A
better than rivals
9
Q
dramatic operational improvements have resulted from tools but rarely have these gains ____ into sustainable profitability
A
translated
10
Q
what is the problem with operational effectiveness from a competitive standpoint?
A
best practices are easily emulated
11
Q
fit drives what 2 things?
A
competitive advantage sustainability
12
Q
Using cases such as and , Porter shows how making trade-offs among activities is critical to the sustainability of a strategy
A
Ikea Vanguard
13
Q
Strategic position emerges from what 3 distinct sources?
A
- variety based positioning- offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants 2. needs based positioning- serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients 3. access- based positioning- serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less
14
Q
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive ____ that damage the profitability of many companies
A
battles
15
Q
whereas managers often focus on _____ components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company’s activities enhances both competitive advantage and sustainability
A
individual
16
Q
the activities that go into creating,____ , selling, and delivering a product or service are the basic units of competitive advantage
A
producing
17
Q
Overall advantage or disadvantage results from all of a company’s what?
A
activities
18
Q
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is ____ about a company. It means performing different activities from rivals or performing similar activities in different ways
A
distinctive
19
Q
what is variety based positioning?
A
offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants
20
Q
gradually ____ have taken the place of strategy
A
tools
21
Q
Under pressure to improve productivity, quality, and speed, managers have embraced tools such as TQM, benchmarking, and ____
A
reengineering
22
Q
choosing a unique and valuable position rooted in systems of activities that are much harder to match is the essense of what?
A
strategy
23
Q
Porter stresses the role of leadership in making and enforcing clear ? while offering advice on how to reconnect with strategy
A
strategic choices
24
Q
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in ____ ways
A
different
25
the activities that go into creating, producing, selling, and delivering a product or service are the basic units of what?
competitive advantage
26
as managers push to ____ on all fronts, they move further away from viable competitive positions
improve
27
the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are much \_\_\_\_to match
harder
28
Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to what?
the sustainability of a strategy
29
Under pressure to improve what 3 things have managers embraced tools such as TQM, benchmarking, and reengineering ?1.
1.productivity, 2.quality, 3. speed
30
the productivity frontier is the maximum value a company can deliver at a given cost, given the best available \_\_\_\_, skills, and management techniques
technology
31
Porter explores how the shift from\_\_\_\_ to tools has led to the rise of mutually destructive competitive battles that damage the profitability of many companies
strategy
32
competitive convergence is when companies become _____ from one another due to competition and tools like benchmarking
indistinguishable
33
the competition for operational effectiveness produces absolute improvement in operational effectiveness however produces relative improvement for who?
no one
34
porter traces the economic basis of competitive advantage down to the level of what?
the specific activities a company performs
35
Porter traces the economic basis of competitive advantage down to the level of general/specific activities a company performs
specific
36
Today's dynamic \_\_\_\_\_and technologies have called into question the sustainability of competitive advantage
markets
37
What has resulted from tools such as TQM, benchmarking, and reengineering?
dramatic operational improvements
38
Differences in operational effectiveness among companies are an important source of differences in profitability among competitiors why?
because they directly affect relative cost positions and levels of differentiation .
39
Managers often focus on individual components of success such as core _____ or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
competencies
40
porter argues that _____ effectiveness, although necessary to superior performance, is not sufficient because its techniques are easy to imitate
operational
41
Using cases such as Ikea and Vanguard, Porter shows how making among activities is critical to the sustainability of a strategy
trade-offs
42
Porter explores how the shift from strategy to tools has done what?
led to the rise of mutually destructive competitive battles that damage the profitability of many companies
43
Managers often focus on individual components of ____ such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
success
44
T/F Differences in operational effectiveness among companies are pervasive
T
45
the essence of strategy is choosing a unique and valuable position rooted in ____ of activities that are much harder to match
systems
46
Under pressure to improve productivity, quality, and \_\_\_\_, managers have embraced tools such as TQM, benchmarking, and reengineering
speed
47
dramatic operational improvements have resulted from tools like TQM, reengineering, and benchmarking but what is the issue still arising?
rarely have these gains translated into sustainable profitability
48
strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating "fit" among a company's \_\_\_\_
activities
49
the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are much harder to \_\_\_\_
match
50
Moving towards the productivity frontier can be the result of what kinds of things? (3)
1. capital investment 2. different personnel 3. new ways of managing
51
what are 2 ways a company can outperform rivals in terms of value and cost?
1. deliver greater value to customers 2. create comparable value at a lower cost or do both
52
gradually tools have taken the place of \_\_\_\_
strategy
53
Under pressure to improve \_\_\_\_\_, quality, and speed, managers have embraced tools such as TQM, benchmarking, and reengineering
productivity
54
Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and \_\_\_\_\_
sustainability
55
Under pressure to ____ productivity, quality, and speed, managers have embraced tools such as TQM, benchmarking, and reengineering
improve
56
Porter traces the economic basis of competitive advantage down to the level of specific activities a company \_\_\_\_
performs
57
Porter stresses the role of leadership in what?
making and enforcing clear strategic choices
58
porter argues that operational effectiveness, although necessary to ______ performance, is not sufficient because its techniques are easy to imitate
superior
59
the _____ that go into creating, producing, selling, and delivering a product or service are the basic units of competitive advantage
activities
60
the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques is called the ?
productivity frontier
61
Using cases such as Ikea and Vanguard, Porter shows what is critical to the sustainability of a strategy ?
making trade-offs among activities
62
Operational effectiveness is performing the activities that make up competitive advantage ____ , that is faster, or with fewer inputs and defects, than rivals
better
63
positioning is rejected today as too static for what (2)?
1. dynamic markets 2. changing technologies
64
whereas managers often focus on individual components of success such as core ____ or critical resources, Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
competencies
65
Operational effectiveness is ?
performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals
66
the productivity frontier is the maximum value a company can deliver at a given cost, given the best available technology, ____ , and management techniques
skills
67
68
porter uses cases such as IKEA and VANGUARD to show how making trade-offs among activities is critical to the sustainability of a \_\_\_\_
strategy
69
dramatic ____ improvements have resulted from tools but rarely have these gains translated into sustainable profitability
operational
70
porter uses cases such as IKEA and VANGUARD to show how making trade-offs among ____ is critical to the sustainability of a strategy
activities
71
when companies become indistinguishable from one another due to competition and tools like benchmarking this is called ?
competitive convergence
72
porter traces the economic basis of competitive advantage down to the level of the specific a company performs
activities
73
Today's dynamic markets and technologies have called what into question?
the sustainability of competitive advantage
74
porter argues that operational effectiveness, although necessary to superior _____ is not sufficient because its techniques are easy to imitate
performance,
75
serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less is what kind of strategic positioning?
access- based positioning
76
When a company improves its operational effectiveness, it moves towards/away from the frontier?
towards
77
dramatic operational improvements have resulted from tools but rarely have these gains translated into _____ profitability
sustainable
78
the activities that go into creating, producing, selling, and delivering a product or service are the ____ units of competitive advantage
basic
79
the essence of strategy is choosing a unique and valuable _____ rooted in systems of activities that are much harder to match
position
80
greater efficiency in regards to a companys quest for superior profitability results in what?
lower average unit cost
81
porter argues that operational effectiveness, although _____ to superior performance, is not sufficient because its techniques are easy to imitate
necessary
82
all difference between companies in cost or price derive from what?
the hundreds of activities required to create, produce, sell, and deliver their products or services
83
as managers push to improve on all fronts, they move further away from what?
viable competitive positions
84
dramatic operational improvements have resulted from tools but rarely have these gains translated into sustainable \_\_\_\_\_
profitability
85
porter argues that operational effectiveness, although necessary to superior performance, is not \_\_\_\_\_\_because its techniques are easy to imitate
sufficient
86
fit has to do with the ways a company's activities do what?
interact and reinforce one another
87
whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing across \_\_\_all of a company's activities enhances both competitive advantage and sustainability
fit
88
the activities that go into creating, producing, selling, and ____ a product or service are the basic units of competitive advantage
delivering
89
the root of the problem for companies is the failure to distinguish between what 2 things?
1. operational effectiveness 2. strategy
90
Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive _____ and sustainability
advantage
91
Porter stresses the role of leadership in making and enforcing clear strategic choices while offering advice on how to ____ with strategy
reconnect
92
Operational effectiveness is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than \_\_\_
rivals
93
\_\_\_\_\_ convergence is when companies become indistinguishable from one another due to competition and tools like benchmarking
competitive
94
the productivity frontier is the maximum value a company can deliver at a given ____ ,given the best available technology, skills, and management techniques
cost,
95
the productivity frontier is the maximum value a company can deliver at a \_\_\_\_cost, given the best available technology, skills, and management techniques
given
96
Under pressure to improve productivity, quality, and speed, managers have embraced ____ such as TQM, benchmarking, and reengineering
tools
97
serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients is what kind of strategic positioning?
needs based positioning
98
strategy being the creation of a unique and valuable position, involving a different set of activities, requiring you to make trade offs in competing, and involves creating "fit" among the company's activities are the 3 what underlying strategic positioning?
key principals
99
competitive ____ is when companies become indistinguishable from one another due to competition and tools like benchmarking
convergence
100
the ways a company's activities interact and reinforce one another is called their what?
fit
101
The productivity frontier can apply to what? (3)
1. individual activies 2. groups of linked activities 3. an entire company's activities
102
the productivity frontier is the maximum value a company can deliver at a given cost, given the best available technology, skills, and ____ techniques
management
103
as managers push to improve on all \_\_\_\_, they move further away from viable competitive positions
fronts
104
what is the productivity frontier?
the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques
105
gradually tools have taken the place of what?
strategy
106
Managers often focus on individual components of success such as core competencies or\_\_\_\_\_ resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
critical
107
dramatic operational improvements have resulted from tools but rarely have these \_\_\_\_translated into sustainable profitability
gains
108
Today's dynamic markets and technologies have called into question the sustainability of _____ advantage
competitive
109
A company can outperform rivals only if it can do what?
establish a difference that it can preserve.
110
strategic ____ attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways
positioning
111
Operational effectiveness is performing the ____ that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals
activities
112
the activities that go into creating, producing, selling, and delivering a product or service are the basic units of ____ advantage
competitive
113
Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is to the sustainability of a strategy
critical
114
the essence of strategy is choosing a unique and \_\_\_\_\_position rooted in systems of activities that are much harder to match
valuable
115
T/F leadership and strategy are not inextricably linked
F
116
Porter traces the economic basis of competitive advantage down to the level of specific ____ a company performs
activities
117
What are the 3 key principles that underlie strategic positioning?
1. strategy is the creation of a unique and valuable position, involving a different set of activities 2. strategy requires you to make trade offs in competing- to choose what not to do 3. strategy invvolves creating "fit" among a company's activities
118
what is a benefit in regards to competitors when you have fit, where activities mutually reinforce each other?
competitors can't easily imitate the activities
119
Today's dynamic markets and \_\_\_\_\_have called into question the sustainability of competitive advantage
technologies
120
whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company's activities enhances both ____ \_\_\_\_ and sustainability
competitive advantage
121
Porter stresses the role of leadership in making and clear strategic choices while offering advice on how to reconnect with strategy
enforcing
122
as all the competitors in an industry adopt best practices, what happens to the productivity frontier?
it shifts outward, lowering costs and improving value at the same time
123
porter traces the basis of competitive advantage down to the level of the specific activities a company performs
economic
124
the essence of strategy is choosing a unique and valuable position rooted in systems of activities that are ?
much harder to match
125
whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company's ____ enhances both competitive advantage and sustainability
activities
126
whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company's activities enhances both competitive advantage and \_\_\_\_\_
sustainability
127
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that damage the ____ of many companies
profitability
128
\_\_\_\_\_ operational improvements have resulted from tools but rarely have these gains translated into sustainable profitability
dramatic
129
the essence of strategy is choosing a unique and valuable position rooted in what?
systems of activities that are much harder to match
130
porter argues that operational _____ , although necessary to superior performance, is not sufficient because its techniques are easy to imitate
effectiveness
131
what has led to the rise of mutually destructive competitive battles that damage the profitability of many companies according to Porter?
the shift from strategy to tools
132
Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances what 2 things?
competitive advantage sustainability
133
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that damage the profitability of many \_\_\_\_
companies
134
porter uses cases such as IKEA and VANGUARD to show how making trade-offs among activities is critical to the _____ of a strategy
sustainability
135
Porter traces the ____ basis of competitive advantage down to the level of specific activities a company performs
economic
136
the essence of strategy is choosing a ____ and valuable position rooted in systems of activities that are much harder to match
unique
137
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from ____ or performing similar activities in different ways
rivals
138
what is access based positioning?
serving needs of customers who have to be accessed in in a different way ex. carmike cinema only operates in cities population 200,000 or less
139
the activities that go into \_\_\_\_, producing, selling, and delivering a product or service are the basic units of competitive advantage
creating
140
porter uses cases such as IKEA and VANGUARD to show how making \_\_\_\_-\_\_\_\_\_ among activities is critical to the sustainability of a strategy
trade-offs
141
the essence of \_\_\_\_\_is choosing a unique and valuable position rooted in systems of activities that are much harder to match
strategy
142
Under pressure to improve productivity, quality, and speed, managers have embraced tools such as TQM, \_\_\_\_, and reengineering
benchmarking
143
What two things have called into question the sustainability of competitive advantage?
1. the dynamic markets 2. technologies
144
as managers push to improve on all fronts, they move ____ away from viable competitive positions
further
145
Porter traces the economic basis of competitive \_\_\_\_down to the level of specific activities a company performs
advantage
146
Porter explores how the shift from strategy to tools has led to the ____ of mutually destructive competitive battles that damage the profitability of many companies
rise
147
strategic positioning attempts to achieve sustainable competitive advantage by doing what?.
preserving what is distinctive about a company
148
Under pressure to improve productivity, ____ and speed, managers have embraced tools such as TQM, benchmarking, and reengineering
quality,
149
Operational effectiveness is performing the activities that make up _____ advantage better, that is faster, or with fewer inputs and defects, than rivals
competitive
150
Differentiation of companies arises from what 2 things?
1. the choice of activiites 2. how the activities chosen are performed
151
Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among is critical to the sustainability of a strategy
activities
152
Under pressure to improve productivity, quality, and speed, managers have embraced tools such as what? (3)
1. TQM, 2.benchmarking 3. reengineering
153
porter traces the economic basis of competitive down to the level of the specific activities a company performs
advantage
154
Porter explores how the shift from strategy to tools has led to the rise of mutually \_\_\_\_\_competitive battles that damage the profitability of many companies
destructive
155
the activities that go into creating, producing, selling, and delivering a product or service are the basic ____ of competitive advantage
units
156
Today's dynamic markets and technologies have called into question the _____ of competitive advantage
sustainability
157
Porter stresses the role of what in making and enforcing clear strategic choices?
leadership
158
as managers push to improve on all fronts, they move further away from viable ______ positions
competitive
159
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive _____ battles that damage the profitability of many companies
competitive
160
the ____ frontier is the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques
productivity
161
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing ____ activities from rivals or performing similar activities in different ways
different
162
cost is generated by what?
performing activities
163
competitive convergence is when companies become indistinguishable from one another due to competition and tools like \_\_\_\_
benchmarking
164
Managers often focus on ____ components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
individual
165
porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because?
its techniques are easy to imitate
166
Operational ____ is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals
effectiveness
167
Porter offers advice on how companies can reconnect with what?
strategies that have become blurred over time
168
the essence of strategy is choosing what?
a unique and valuable position rooted in systems of activities that are much harder to match
169
gradually what have taken the place of strategy?
tools
170
Under pressure to improve productivity, quality, and speed, managers have embraced tools such as ___ benchmarking, and reengineering
TQM,
171
the productivity frontier is the ____ value a company can deliver at a given cost, given the best available technology, skills, and management techniques
maximum
172
Using cases such as Ikea and Vanguard, Porter shows how making trade-offs among activities is critical to the sustainability of a
strategy
173
Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's ____ enhances both competitive advantage and sustainability
activities
174
the productivity ____ is the maximum value a company can deliver at a given cost, given the best available technology, skills, and management techniques
frontier
175
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing what?
different activities from rivals or performing similar activities in different ways
176
the essence of strategy is _____ a unique and valuable position rooted in systems of activities that are much harder to match
choosing
177
porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its techniques are easy to \_\_\_\_
imitate
178
what is the difference between operational effectiveness and strategic positioning?
operational effectiveness mean performing similar activities better than rivals perform them and strategic positioning means performing different activities from rivals or similar activities in different ways
179
Porter explores how the shift from strategy to tools has led to the rise of ____ destructive competitive battles that damage the profitability of many companies
mutually
180
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that\_\_\_\_\_ the profitability of many companies
damage
181
Porter stresses the role of leadership in making and enforcing clear strategic choices while offering advice on how to reconnect with \_\_\_\_
strategy
182
strategy is the creation of a ____ and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating "fit" among a company's activities
unique
183
Managers often focus on individual ____ of success such as core competencies or critical resources but Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
components
184
dramatic operational improvements have resulted from ____ but rarely have these gains translated into sustainable profitability
tools
185
porter uses cases such as IKEA and VANGUARD to show how what is critical to the sustainability of a strategy?
making trade-offs among activities
186
Porter stresses the role of leadership in making and enforcing clear ____ choices while offering advice on how to reconnect with strategy
strategic
187
what is competitive convergence?
when companies become indistinguishable from one another due to competition and tools like benchmarking
188
whereas managers often focus on individual components of success such as core competencies or critical \_\_\_\_\_, Porter shows how managing fit across all of a company's activities enhances both competitive advantage and sustainability
resources
189
strategy is the creation of a unique and \_\_\_\_position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating "fit" among a company's activities
valuable
190
what used to be the heart of strategy?
positioning
191
as managers push to improve on all fronts, they move further away from \_\_\_\_\_competitive positions
viable
192
Managers often focus on individual components of success such as core competencies or critical resources but Porter shows how _____ \_\_\_\_\_across all of a company's activities enhances both competitive advantage and sustainability
managing fit
193
strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in \_\_\_\_\_- to choose what not to do. strategy involves creating "fit" among a company's activities
competing
194
as managers push to improve on all fronts, they move further away from viable competitive \_\_\_\_
positions
195
the productivity frontier is the maximum ____ a company can deliver at a given cost, given the best available technology, skills, and management techniques
value
196
Porter traces the economic basis of ____ advantage down to the level of specific activities a company performs
competitive
197
when the productivity frontier shifts outward, what is the result? (2)
lowering costs and improving value
198
the work of deciding which target group of customers and needs to serve requires what 3 things?
1. discipline 2. the ability to set limits 3. forthright communication
199
dramatic operational improvements have resulted from tools but ____ have these gains translated into sustainable profitability
rarely
200
the productivity frontier is the maximum value a company can ____ at a given cost, given the best available technology, skills, and management techniques
deliver
201
Porter explores how the shift from strategy to tools has led to the rise of mutually destructive competitive battles that do what?
damage the profitability of many companies
202
Porter stresses the role of ____ in making and enforcing clear strategic choices while offering advice on how to reconnect with strategy
leadership
203
strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make ____ \_\_\_\_in competing- to choose what not to do. strategy involves creating "fit" among a company's activities
trade offs
204
the activities that go into creating, producing, selling, and delivering a product or service are the basic units of competitive \_\_\_\_
advantage
205
Porter explores how the shift from strategy to ____ has led to the rise of mutually destructive competitive battles that damage the profitability of many companies
tools
206
porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its techniques are ____ to imitate
easy
207
Managers often focus on individual components of success such as ? (2
core competencies or critical resources
208
what does cost advantage arise from?
performing particular activities more efficiently than competitors.
209
strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing _____ activities in different ways
similar
210
strategy is the creation of a unique and valuable position, involving a ____ set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating "fit" among a company's activities
different
211
\_\_\_\_ effectiveness is performing the activities that make up competitive advantage better, that is faster, or with fewer inputs and defects, than rivals
Operational
212
Porter shows how making trade-offs among activities is critical to the sustainability of a strategy using cases from what 2 companies?
Ikea and Vanguard
213
Porter traces the economic basis of competitive advantage down to what?
the level of specific activities a company performs
214
Porter traces the economic ____ of competitive advantage down to the level of specific activities a company performs
basis
215
T/F Companies can reap enormous advantages from operational effectiveness
T
216
What are the basic units of competitive advantage?
the activities that go into creating, producing, selling, and delivering a product or service
217
offering only a particular service variety to many customers ex. Jiffy Lube only provides auto lubricants is what kind of strategic positioning?
variety based positioning
218
the specific activities a company performs forms the economic basis of what according to Porter?
competitive advantage
219
whereas managers often focus on individual components of success such as core competencies or critical resources, Porter shows how managing fit across all of a company's activities enhances what? (2)
competitive advantage and sustainability
220
operational effectiveness is necessary for what?
superior performance
221
porter argues that operational effectiveness, although necessary to superior performance, is not sufficient because its\_\_\_\_ are easy to imitate
techniques
222
\_\_\_\_\_ positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways
strategic
223
strategy is the creation of a unique and valuable position, involving a different set of activities. strategy requires you to make trade offs in competing- to choose what not to do. strategy involves creating ____ among a company's activities
"fit"
224
the activities that go into creating, producing, selling, and delivering a ____ or ____ are the basic units of competitive advantage
product service
225
what is needs based positioning?
serving most or all of the needs of a particular group of customers ex. bessemer trust targets only wealthy clients
226
strategic positioning attempts to achieve ____ competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals or performing similar activities in different ways
sustainable
