【正文】 Capability Capacity for an integrated set of resources to integratively perform a task or activity. Competitive Advantage Ability of a firm to outperform its rivals An Attractive Industry Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Action required: Locate an attractive industry. ResourceBased Model of Superior Returns Ch122 Resources Inputs to a firm’s production process. Capability Capacity for an integrated set of resources to integratively perform a task or activity. Competitive Advantage Ability of a firm to outperform its rivals An Attractive Industry Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Action required: Select strategy that best exploits resources and capabilities relative to opportunities in environs. Strategy Formulation and Implementation Strategic actions taken to earn aboveaverage returns ResourceBased Model of Superior Returns Ch123 Resources Inputs to a firm’s production process. Capability Capacity for an integrated set of resources to integratively perform a task or activity. Competitive Advantage Ability of a firm to outperform its rivals An Attractive Industry Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Action required: Maintain selected strategy in order to outperform industry rivals. Strategy Formulation and Implementation Strategic actions taken to earn aboveaverage returns Superior Returns Earning of aboveaverage returns ResourceBased Model of Superior Returns Ch124 Core Competencies When these four criteria are met, Resources and Capabilities bee: Core Competencies are resources and capabilities that can serve as a source of Competitive Advantage. The ResourceBased model argues that Core Competencies are the basis for a firm’s Competitive Advantage, Strategic Competitiveness and Ability to Earn Aboveaverage Returns. Ch125 Stakeholders: Groups who are affected by a firm’s performance and who have claims on its wealth The firm must maintain performance at an adequate level in order to maintain the participation of key stakeholders Organizational Employees Managers NonManagers Firm Capital Market Stock market/Investors Debt suppliers/Banks Product Market Primary Customers Suppliers Ch126 Stakeholder Involvement Each of the key stakeholders wants a piece of the same pie 1 How do you divide the pie in order to keep all of the stakeholders involved? 2 How do you increase the size of the pie so that there is more to go around? Ch127 Chapter 3 Internal Environment Chapter 2 External Environment The Strategic Management Process Strategic Intent Strategic Mission Strategic Competitiveness Above Average Returns Feedback Strategy Formulation Chapter 4 BusinessLevel Strategy Chapter 5 Competitive Dynamics Chapter 6 CorporateLevel Strategy Chapter 8 International Strategy Chapter 9 Cooperative Strategies Chapter 7 Acquisitions amp。 Restructuring Chapter 10 Corporate Governance Chapter 11 Structure amp。 Control Chapter 12 Strategic Leadership Chapter 13 Entrepreneurship amp。 Restructuring Strategy Implementation Chapter 10 Corporate Governance Chapter 11 Structure amp。 Control Chapter 12 Strategic Leadership Chapter 13 Entrepreneurship amp。 Control Chapter 12 Strategic Leadership Chapter 13 Entrepreneurship amp。s employees. Capabilities represent: the firm’s capacity or ability to integrate individual firm resources to achieve a desired objective. Capabilities Ch370 What a firm Does... Capabilities represent: the firm’s capacity or ability to integrate individual firm resources to achieve a desired objective. Capabilities develop over time as a result of plex interactions that take advantage of the interrelationships between a firm’s tangible and intangible resources that are based on the development, transmission and exchange or sharing of information and knowledge as carried out by the firm39。 CEO, RJR Nabisco What a firm Has... Resources Ch366 Tangible Resources Financial * Physical * Technological * Organizational * What a firm Has... What a firm has to work with: its assets, including its people and the value of its brand name Resources represent inputs into a firm’s production process... such as capital equipment, skills of employees, brand names, finances and talented managers Intangible Resources Human Resources * Innovation * Reputation * “ Some genius invented the Oreo. We’re just living off the inheritance.” F. Ross Johnson, Former President amp。De x p e n d iture s? New co m m u n icatio nte ch n o log iesGloba lSe gment? Im p o rtan t p o li tical e v e n ts? Cr iti ca l g lob a l m a rkets? New l y ind u stri a li z e d co u n tri e s? Di ff e re n t c u ltura l a n dinstitu tio n a l at tri b u t e sCh231 R an k S tat e1 Ma ssac husetts2 California3 Col ora do4 W a shing ton5 Connec ti c ut6 U tah7 N e w H a m pshire8 N e w J e rse y9 D e law a re10 A riz onaTop 10 . States Moving Toward Digital Economy States in the top 10 of those that are trying to transform themselves to the realities and needs of a digital economy may experience an influx of hightech panies and skilled workers as well as increases in tax revenues External Environmental Analysis Ch232 Threat of New Entrants Threat of New Entrants Porter’s Five Forces Model of Competition Ch233 Threat of New Entrants Barriers to Entry