SCM 470 Business Strategy Already Rated A+
Corporate Strategy an overarching strategy of a firm
Business Strategy the aggregated strategies of a single single or strategic business unit
Functional Strategy includes marketing, new product development, human resources, finance, legal,
operati...
Corporate Strategy ✅an overarching strategy of a firm
Business Strategy ✅the aggregated strategies of a single single or strategic business unit
Functional Strategy ✅includes marketing, new product development, human resources, finance, legal,
operations, supply chain, IT, etc.
emphasis on short and medium term plans and is limited to the domain of each departments functional
responsibility
must link with the business strategy through understanding of competitive priorities
Manufacturing Strategy ✅the pattern of decisions and investments in products, services, and processes
used to implement an organizations business strategy
Porter's 5 Forces ✅threat of new entrants
threat of substitutes
rivalry among existing competitors
bargaining power of buyers
bargaining power of suppliers
Threat of new entrants ✅how easy or difficult is it for a new competitor to enter
, Threat of substitutes ✅what substitutes would the consumer consider if our product is not available
Buyer power ✅how powerful are customers?
Do they have bargaining leverage? (many customers, ability to backwards integrate)
Are they sensitive to price?
Supplier power ✅how powerful are suppliers?
Consider # of suppliers, switching costs of suppliers, importance of differentiation, switching costs,
importance of volume
Competitive rivalry ✅how fierce is rivalry amongst the competition?
Consider industry growth, brand identity, diversity if competitors, switching costs, and exit barriers
Cost leadership ✅broad scope, cost is source of competitive advantage
Cost Focus ✅narrow scope, cost is source of competitive advantage
Differentiation ✅broad scope, differentiation is source of competitive advantage
Differentiation Focus ✅Narrow scope, differentiation is source of competitive advantage
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