| barrier to imitation | Factors that make it difficult for a firm to imitate the competitive position of a rival.
|
 |
|
|
| broad market strategy | Serving the entire market.
|
|
|
|
| business-level strategy | Strategy concerned with deciding how a firm should compete in the industries in which it has elected to participate.
|
|
|
|
| competitive advantage | Advantage obtained when a firm outperforms its rivals.
|
|
|
|
| competitive tactics | Actions that managers take to try to outmaneuver rivals in the market.
|
|
|
|
| corporate-level strategy | Strategy concerned with deciding which industries a firm should compete in and how the firm should enter or exit industries.
|
|
|
|
| differentiation strategy | Increasing the value of a product offering in the eyes of consumers.
|
|
|
|
| distinctive competency | A unique strength that rivals lack.
|
|
|
|
| diversification | Entry into new business areas.
|
|
|
|
| economies of scale | Cost advantages derived from a large volume of sales or production.
|
|
|
|
| economies of scope | Cost reductions associated with sharing resources across businesses.
|
|
|
|
| focus strategy | Serving a limited number of segments.
|
|
|
|
| internal governance skills | The ability of senior managers to elicit high levels of performance from the constituent businesses of a diversified enterprise.
|
|
|
|
| legacy constraints | Prior investments in a particular way of doing business that are difficult to change and limit a firm's ability to imitate a successful rival.
|
|
|
|
| low-cost strategy | Focusing managerial energy and attention on doing everything possible to lower the costs of the organization.
|
|
|
|
| primary activities | Activities having to do with the design, creation, and delivery of the product; its marketing; and its support and after sales service.
|
|
|
|
| related diversification | Diversification into a business related to the existing business activities of an enterprise by distinct similarities in one or more activities in the value chain.
|
|
|
|
| strategy | An action that managers take to attain the goals of an organization.
|
|
|
|
| support activities | Activities that provide inputs that allow the primary activities to occur.
|
|
|
|
| sustainable competitive advantage | A distinctive competency that rivals cannot easily match or imitate.
|
|
|
|
| unrelated diversification | Diversification into a business not related to the existing business activities of an enterprise by distinct similarities in one or more activities in the value chain.
|
|
|
|
| value innovation | Using innovation to offer more value at a lower cost than competitors.
|
|
|
|
| vertical integration | Moving upstream into businesses that supply inputs to a firm's core business or downstream into businesses that use the outputs of the firm's core business.
|