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ISBN 9781135186357. Retrieved 2018-06-17. Strategic management is the process of assessing the corporation and its environment in order to meet the firm's long-term objectives of adapting and adjusting to its environment through manipulation of opportunities and reduction of threats.A corporation-oriented view.
Strategy. Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus. A company chooses to pursue one of two types of competitive advantage, either via lower costs than its competition or by differentiating ...
Cost advantage is when a business provides the same products and services as its competitors, albeit at a lesser cost. Differentiation advantage is when a business provides better products and services as its competitors. In Porter's view, strategic management should be concerned with building and sustaining competitive advantage. [15]
Strategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought . When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities ...
Strategy. SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis. [ 1]
Strategy. The resource-based view ( RBV ), often referred to as the "resource-based view of the firm", [ 1] is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage. Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely cited as a pivotal ...
The term competitive advantage refers to the ability gained through attributes and resources to perform at a higher level than others in the same industry or market (Christensen and Fahey 1984, Kay 1994, Porter 1980 cited by Chacarbaghi and Lynch 1999, p. 45). [ 1] The study of this advantage has attracted profound research interest due to ...
The diamond model is a tool for analyzing the organization's task environment. The diamond model highlights that strategic choices should not only be a function of industry structure and a firm's resources, it should also be a function of the constraints of the institutional framework. Institutional analysis (such as the diamond model) becomes ...
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