The criterion of inimitability is satisfied if competitors cannot readily acquire the
valuable and rare resource.
The basic building blocks of a firm’s strategy are its resources and capabilities.
Capabilities in large-scale manufacturing and distribution generally favor low-cost
strategies.
Stocks of resources and capabilities are created over time through divestments.
Dynamic environments allow firms to participate in more alliances.
Political, technical, and environmental issues are elements of the macro environment.
Low-cost leaders must offer an acceptable combination of price and quality.
Firms that have large gaps in pay across top managerial staff suffer negative effects.
Dynamic strategies require firms to make coherent tradeoffs between the economic
logic of low cost and differentiation.
A shortsighted focus on factors such as return on equity may cause managers to divert
their attention from other key stakeholders.
Vision and mission statements inform managers and employees of the firm’s direction.
The company that is helping artists and copyright owners sell their music directly to
fans is SNOCAP.
One of the least important external implementation obstacles is a firm’s culture.