Exam 2 Flashcards
Types of industry conditions
Monopoly, oligopoly, competition
Blue ocean strategy
Creation of new market, opens up new demand
Resource similarity
Extent to which a firms intangible and tangible resources are comparable a to a competitors (in terms of type and amount)
Market commonality
Number of markets the firm and competitor are u cer JB and degree of importance
Chaining
Networks of linked interconnected outlets that function as one large business entity
4 types of innovation
Incremental, radical, architectural, disruptive
Incremental innovation
Builds on already existing markets and technology
Radical innovation
Builds on new markets and new technology
Architectural innovation
New markets and existing technology
Disruptive innovation
Existing markets with new technology
Global standardization strategy
Pursue low cost strategy on global scale, minimal pressure for local responsiveness
Localization strategy
Relatively high need for local responsiveness and few opportunities to gain global efficiencies
Transnational strategy
Need for high local responsiveness and high pressure for low costs
Types of distances in global economy
Cultural, administrative, geographic, and economic
Horizontal integration
Merging or cooperating in one industry to achieve competitive advantages that come with larger scale and scope
