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ESSENTIALS OF STRATEGIC MANAGEMENT THE QUEST FOR COMPETITIVE ADVANTAGE 8E BY JOHN GAMBLE, ARTHUR THOMPSON AND MARGARET PETERAF INSTRUCTOR SOLUTION MANUAL $21.99   Add to cart
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ESSENTIALS OF STRATEGIC MANAGEMENT THE QUEST FOR COMPETITIVE ADVANTAGE 8E BY JOHN GAMBLE, ARTHUR THOMPSON AND MARGARET PETERAF INSTRUCTOR SOLUTION MANUAL

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ESSENTIALS OF STRATEGIC MANAGEMENT THE QUEST FOR COMPETITIVE ADVANTAGE 8E BY JOHN GAMBLE, ARTHUR THOMPSON AND MARGARET PETERAF INSTRUCTOR SOLUTION MANUAL

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  • May 14, 2024
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  • 2023/2024
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© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. Instructor Solution Manual For Essentials of Strategic Management The Quest for Competitive Advantage 8e By John Gamble, Arthur Thompson and Margaret Peteraf Chapter 1 -10 With Ca ses (1-12) Chapter 1 Lecture Note Strategy , Business Models, and Competitive Advantage Chapter Summary Chapter 1 explores the fundamental concepts surrounding organizational strategy. It begins with an explanation of the term strategy and discusses why companies need a distinctive strategy in order to compete successfully. Next, it explores why a company must have a viable business model and the five most dependable strategic approaches for setting a company apart. The chapter wraps up with an illustration of how a company‘s strategy tends to evolve over time due to changing business conditions and the three tests for winning strategies. Lecture Outline I. Introduction 1. A company‘s strategy is the set of actions that its managers take to outperform the company‘s competitors and achieve superior profitability. LO 1 -1 Understand what is meant by a company‘s strategy. 2. In effect, managers must determine how many and which strategic options to pu rsue including: a. How to create products or services that attract and please customers. b. How to position the company in the industry. c. How to develop and deploy resources to build valuable competitive capabilities. d. How each functional piece of the business (R& D, supply chain activities, production, sales and marketing, distribution, finance, and human resources) will be operated. e. How to achieve the company‘s performance targets. Section 6 Case Teaching Note for Case 09 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 2 CORE CONCEPT A company‘s strategy is the coordinated set of actions that its managers take to outperform the company‘s competitors and achieve superior profitability. Section 6 Case Teaching Note for Case 09 © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 3 II. The Importance of a Distinctive Strategy and Competitive Approach Connect Activity Consider adding a LearnSmart assignment requiring the student to review this section of the chapter as an interactive question and answer review. The assignment can be graded and posted automatically. LO 1 -2 Explain why a company needs a creative, distinctive strategy that sets it apart from rivals. 1. For a company to matter in the m inds of customers, its strategy needs a distinctive element that sets it apart from rivals and produces a competitive edge. 2. Simply trying to mimic the strategies of the industry‘s successful companies rarely work s. 3. Every company‘s strategy needs to have s ome distinctive element that draws in customers and produces a competitive edge. III. The Relationship between a Company's Strategy and Business Model Connect Activity Consider adding a LearnSmart assignment requiring the student to review this section of the chapter as an interactive question and answer review. The assignment can be graded and posted automatically. LO 1 -3 Explain why it is important for a company to have a viable business model that outlines the company‘s customer value proposition and its profit formula. 1. A company‘s business model is management‘s blueprint for delivering a valuable product or service to customers in a manner that will yield an attractive profit. 2. The two elements of a company‘s business model are: a. Customer value proposition : The company‘s approach to satisfying buyer wants and needs at a price customers will consider a good value. b. Profit formula : The Company‘s approach to determining a cost structure that will allow for acceptable profits given the pricing tied to its custom er value proposition

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