Management strategy Strategy as theory of how to compete - how to gain competitive advantage (CA) competitive advantage strategies can be conflicting CA is subjective, cannot be directly observed Strategy is not a “you win, I lose” >> coopetition / collaboration Coopetition: synchronous cooperation and competition Firm performance: Firm effects 40% , industry effects 20%, other effects (corporate, parent, year, economy) 40% Strategy is CA theories, creating value and containing costs, combining a series of activities to stake out a unique position, and making long term commitments to achieve these objectives Class note: teams usually are weak in business model