Competitive advantage Define: firm higher rove of economic profit than other firms competing market 1) Value innovation a. Maximum willingness to pay b. Minimum cost c. Price d. Consumer wasted e. Produce surplus f. Value 2) Value chain serial publication of processes from inbound logistic through services, and including support activities 3) How to create look on g. Configure value chain differently h. Perform activities more than effectively 4) Sources of competitive advantage i. Create destruction (disruptive technologies, sustainability) j. regeneration incentive(sunk cost effect, replacement effect, efficiency) k. Market for ideas(innovative capital, patent races/ R & adenine;D) l. Evolutionary economics/ dynamics capabilities m. environment (factors of production regard condition, related & supporting industries, structure /rivalry,strategy) 5) Strategic lay n. Cost Leadership o. Benefit Leadership p. Coverage 2.) Broad 3.) Focus * Dont ignore price elasticity of demand 6) Sustaining q. Resources & capabilities(focus on unique &imperfectly mobile) r. Isolating Mechanism 4.) IMPEDIMENT to imitation * Legal- Patent, copyright, etc.
* Access to commentary & customers (exclusive contract) * Nature of the market * Intangible barriers 5.) Early- Mover 6.) displacement Cost Globalization 1) Pro: 1. Variety 2. Lower prices 3. Growth 4. Productivity 5. Higher quality 6. Efficient allocation 7. Developing nation 8. Export demand 9. Investment opps. 10. Environment society 2) Anti 11. Lower wages 12. Social injuctice 13. Environmental damage 14. Insecurity of workforce 15. Hurts... If you need to get a full essay, order it on our website: Ordercustompaper.com
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