Assignment 2
This assignment covers Chapter Three, Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability, and Chapter Four, Business-Level Strategy.
Chapter 3 Questions:
- Define value creation for customers and the components that can be used to determine value creation per unit. How is value creation related to competitive advantage? How does the VRIO framework relate to value creation?
- What is a value chain? Why is efficiency so crucial in an organization's value chain activities?
- What building blocks in value creation can an organization use to sustain competitive advantage? How best can you maintain a competitive advantage?
- What does internal analysis help a company to determine? How does this process contribute to a company's overall health (value creation, competitive advantage, profitability)?
- Why do companies fail? How does competitive advantage relate to failure? What would be the consequence for a company if competitive advantage is not maintained?
Chapter 4 Questions:
- Describe low-cost strategy. How does this strategy differ from differentiation, and how can it relate to differentiation?
- describe the differentiation strategy and how products and services are offered under this strategy. What is branding, and how does that concept relate to differentiation?
- Describe how businesses approach segmentation in the market. Why could market segmentation help enterprises achieve the goals of their strategies? What approaches can be used to segment the market? How can this lead to a competitive advantage?
At the end of the chapters, there are closing cases. Pick one for the assignment, and on one page, explain how the concepts studied in the chapters could be applied to the case. Please do this after you complete the assignment by critically answering the questions.
please refer the books list suggested by the professor
1. Charles W. L. Hill and Mellisa A. Schilling. Strategic Management: An Integrated Approach (Theory and Cases)2024, 14 editions. South-Western Cengage Learning. (ISBN: 978-0-3577-1662-5)
2. Peter M. Senge. The Fifth Discipline: The Art & Practice of the Learning Organization. Currency Doubleday. 1994.
3. Michael E. Porter. Competitive Strategy. Free Press. 2004.