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Chapter 10 Strategy: The Quest to Keep Profit from Eroding Flashcards | Quizlet
Chapter 10 Strategy: The Quest to Keep Profit fromUpgrade
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Chapter 10 Strategy: The Quest to Keep Profit from
Eroding
Terms in this set (15)
the ability to a) deliver the same product or service
sustainable competitive
benefits as competitors but at a lower cost or b)
advantage
deliver superior product or service benefits at a
similar cost
locates the source of advantage at the industry
level
industrial organization (IO)
a firm's performance in the marketplace depends
on the characteristics of the industry environment
resource based view (RBV)
locates the source of advantage at the individual
firm level
barriers to entry
Industry structure
product differentiation among firms
number and size distribution of firms
low threat of entry
Michael Porter's Five Forces
model
low buyer power
low supplier power
low threat from substitutes
low levels of rivalry between existing firms
Supplier power
Buyer power
tends to be higher when the inputs they provide are
critical or highly differentiated
tends to be higher when switching from firm to firm
is easy, or concentration of them
government protection
proprietary products
entry barriers
strong brands
high capital requirements for entry
lower costs driven by economies of scale
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5/30/22, 3:18 PM
Chapter 10 Strategy: The Quest to Keep Profit from Eroding Flashcards | Quizlet
proprietary
controlled
by one
company
Chapterproduct
10 Strategy: The Quest
to and
Keep
Profit
from
...
platform
product vs. platform
assumptions underlying RBV
resource heterogeneity
resource immobility
Study
needs a set of complementary innovations to reach
its full potential
platform
resource heterogeneity and resource immobility
assumption that a firm is a bundle of resources and
capabilities that differ across firms
a firm has resources that tend to be "sticky" and that
do not move easily from firm to firm
reduce cost
strategies for competition
product differentiation
reduction in competitive intensity
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