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15 Cards in this Set
- Front
- Back
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A firms competitive assets that determine its competitiveness and ability to succeed in the marketplace |
Resources and capabilities |
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This financial ratio indicates the firms level of efficiency |
Asset turnover |
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A generic strategy that aims to gain cost advantages and targets a specific segment of the market |
Focused low-cost strategy |
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A generic strategy that aims to deliver products and services with upscale features at a reasonable price |
Best cost strategy |
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These strategies are designed to capture market share from rivals or expand into new market opportunities |
Offensive strategies |
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Collaborative formal arrangements were two or more companies join forces and agreed to work cooperatively toward some strategically relevant objective |
Strategic alliance |
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The four tests of a resources competitive power |
The VRIN test - is it: valuable rare inimitable non-substitutable |
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This financial ratio is a measure of the firms profit margin’s |
Return on sales |
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A generic strategy that aims to deliver products and services geared towards a specific consumer base by providing upscale features that command premium prices |
Focused-product differentiation |
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This is the major difference between a broad strategy and a focused strategy |
The size of the target market |
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The process of shifting value chain activities presently ousourced to be performed in-house |
Integration |
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These are two broad types of defense strategies firms can employ |
Blocking & deterring/signaling retaliation |
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An analytical approach useful in determining whether a companies prices and costs are comparable to the industry leaders |
Benchmarking |
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The two biggest factors that distinguish one competitive strategy from another |
Scope of target market Low cost versus differentiation |
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Strategy where instead of trying to be competitors in existing markets you invent new industry or new market segment |
Blue Ocean strategy |
