Lecture 3

Question 1

How can organizations get benfits?

Answer 1

Industry Structure: Competitive advantage stems from a firls membership in an industry with favourable structural characteristics

Resource -Based-View: Competetive advantage stems from a firms access to rare, valuable, inimitable and non substitutable resources

Relational View: competetive advantage stems from idiosyncratic inter-firm linkages

Question 2

How does an organization survive?

Answer 2

adapting to the external environment with the external environment while optimizing internal interdependecies(making a strategy)

Question 3

The strategic Typology

Answer 3

Defenders: small market, in dager of ineffiency since they are not innovative

Prospectors: Bigger marketshare- they are not innovative

analyzers: wide and small market depending on the product

Reactors: People that react after it happend, risk of not be able to adapt

Question 4

what is an organization ?

Answer 4

Social entity with a collective goal that exists within a contextual environment

Question 5

What is strategy?

Answer 5

Specific patterns of decision making to influence core competentecies in order to get competitive advantage