Alliances are ineffective vehicles for creating new capabilities and markets.
Industry analysis includes all of a firm’s key external stakeholders.
An industry that is dominated by a few large firms is called a monopoly.
Given a lack of traditional indicators of quality, analysts will turn to secondary
information sources as the indicators of the underlying quality of risky firms.
Acquisition of other businesses is a main vehicle that firms can use to enter new market
or industry segments.
Major differentiators include services that help a business outperform their competitors,
including brand image, customization, technical superiority, price, quality, and
reliability.
Competitive actions generate a narrow range of predictable competitive responses.
In the products and services section of a business plan, entrepreneurs would typically
identify the need for the product, the extent of that need, who the customers will be, and
why they will buy your product.
A firm’s international strategy is how it approaches the cross-border business activities
of its own firm and competitors’ at the present time and in the future.
A successful low-cost strategy requires different resources and capabilities than a
differentiation strategy.
Incumbents adopting the annulment strategy improve their own products.
A patent is an example of a rare and valuable resource.