Mange 3 Business & Finance homework help

Mange 3 Business & Finance homework help

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Assignment 3

This assignment covers chapter five, Building Competitive Advantage through Business-Level Strategy, and chapter six, Business-Level Strategy and the Industry Environment.

Chapter 5 Questions:

  1. Describe low-cost strategy. How does this strategy is different from differentiation and how it can relate to differentiation?
  2. describe what differentiation strategy is and how products and services are offered under this strategy? What is branding and how that concept relates to differentiation. 
  3. Describe how businesses approach segmentation in market. Why market segmentation could help businesses to achieve the goals of their strategies? What approaches can be used to segment the market? How can this lead to competitive advantage?

Chapter 6 Questions:

  1. Define fragmented and consolidated industries. What are the differences between these two types of industries? How an industry can be consolidated? 
  2. What opportunities and advantages do consolidated industries offer that fragmented industries do not?
  3. Describe horizontal and vertical integration. How do businesses leverage these strategies for growth, and how can they aid them in gaining competitive advantage? How developing competitive advantage could fail by horizontal and vertical integration.  

Michael Porter Competitive Strategy

Techniques for analyzing industries and competitors

The Porter Model

The Model

Potential Entrants

Industry Competitor

Bargaining Power of Suppliers

Threat of Substitute

Bargaining Power of Buyers

Industry Competitor

Competition Drives Down the Rate of Return

Consolidated Industries, Little Room for Mistake Among Rivals

Lack of Differentiation or Less Switching Cost

Merger and Acquisition Increases Competition

High Strategic Stake in Achieving Success for Each Company

Economies of Scale is Crucial

Strategic Alliances and More

Threat of Entry

Economies of Scale by Businesses

Product Proliferation

High Capital Requirement for Investment

High Switching Cost for Customers

Cost Advantage by the Established Businesses/ Price as a Barrier

Access to Viable Distribution Channels

Government Regulations

Threat of Substitute

Lack of Differentiation Among Various Existing Products

Low Switching Cost for Customers

Innovation in the Industry and less Innovated Products

Brand Names and Quality of Products

Weak Distribution and Customer Service

Fragmented Industries More Prone to Differentiated Products

Bargaining Power of Buyers

Price a Fraction of Buyers Cost, Buyers less Price Sensitive

The Switching Cost is Low. Availability of Similar Products in the Market

Forward and Backward Integration Lessens the Bargaining Power of Buyer. Self Manufacturing and Self Distribution by Car Industry

The Information of Buyer on the Market, Demand, Competition and Market

Wholesalers as Buyers can Impose Bargaining Power Over Suppliers

When Customers decision on Buying can be influenced by Retailers

Bargaining Power of Suppliers

When the Industry is Dominated by a Few Suppliers

When the Supplier Competes with Alternative Supply and Suppliers

When the Supplier Sells not to one Industry but More

The Supplier’s Product is Crucial to Producer’s Product

The Suppliers Product is Well Differentiated

The Supplier Threat of Forward Integration Exists

Government Influence in the Industry for Substitute Product

Strategic Group Within an Industry

Strategic Groups are Leading Companies in an Industry. They Have Reached Economies of Scale and Occasionally Scope

Entry Barriers are Imposed mostly by Strategic Group in an Industry

Mobility Barriers Are determined by Skills, Resources, Strategies and Cost

Strategic Groups Have Different Amount of Power vis-à-vis Buyers and Suppliers

Strategic Groups are Exposed to Substitute Products for Product Line, Differentiation, Demographic Change, Customers……

Consolidating a Fragmented Industry

Creation of Economies of Scale

Standardization by Innovation

Rectify the Problem of a Fragmented Industry by Looking at the Causes. For Example Diseconomies of Scale

Initiate Acquisition and Merger

Explore and Investigate the Industry Trends in terms of Customer Needs and Innovation

Firms that Cannot help Consolidating an Industry are the Ones with Lack of Skills, Myopic, not Aware of the External Environment, and Organizationally not Ready

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