Perpetual Innovation
Give this one a try later!
Describes how rapidly new, information-intensive technologies replace old
ones.
Organizational Stakeholders
Give this one a try later!
, The responsibilities of strategic leaders for the development and effective
use of a firm's human capital include:
1. education/skills of employees
2. organizational culture and ethical work environment
3. strategic goals and global standards
4. international assignments
Strategic Flexibility
Give this one a try later!
Involves coping with the uncertainty and risks of hypercompetitive
environments. Must first overcome built-up organizational intertia in old
competencies and strategies.
This requires developing the capacity for continuous learning and applying
the new and updated skill sets and competencies to the firm's competitive
advantage.
Competitive Advantage
Give this one a try later!
Firm has this when it implements a strategy that creates superior value for
customers and that competitors cannot duplicate or find too costly to
imitate
Firms achieve strategic competitiveness and earn above-avg returns when
their core competencies are effectively acquired, bundled, and leveraged.
Over time, the benefits of any value-creating strategy can be duplicated by
competitors. All competitive advantages have a limited life.
Sustainability of a competitive advantage is a function of the rate of core
, competence obsolescence because of environmental changes, the
availability of substitutes for the core competence, and the imitability of the
core competence.
Firms should manage current core competencies while simultaneously
developing new ones.
External Environment Analysis
Give this one a try later!
Scanning- identifying the early signs of environmental changes and trends.
Involves studying all segments of the general environment. Scanning
should be industry appropriate and reveals rough data in need of deeper
analysis.
Monitoring- detecting meaning through ongoing observations of
environmental changes and trends.
Forecasting- developing projections of anticipated outcomes based on
monitored changes and trends.
Assessing- determining the timing and importance of environmental
changes and trends for firms' strategies and their management.
Strategic Leaders
Give this one a try later!
, People located at different levels of the firm who use the strategic mgmt
process to select strategic actions that help the firm achieve its vision and
fulfill its mission.
-have a strong strategic orientation that relies on thorough analysis when
taking action
-are located at various levels throughout a firm
-want the firm and its people to accomplish more
-are innovative thinkers/promote innovation
-can leverage relationships with external parties while simultaneously
promoting exploratory learning that contributes to a firms knowledge base
-have an ambicultural (global mindset) approach to mgmt
The Technological Segment
Give this one a try later!
Creating new knowledge and translating it into products, outputs,
processes, and materials. Involves:
-product innovations
-rapid technological change and the risk of disruption
-knowledge application
-growth of the internet
-new communication technologies
Best to be an early adopter of new tech.
Building Core Competencies and Sustainable Competitive Advantage
Give this one a try later!
Give this one a try later!
Describes how rapidly new, information-intensive technologies replace old
ones.
Organizational Stakeholders
Give this one a try later!
, The responsibilities of strategic leaders for the development and effective
use of a firm's human capital include:
1. education/skills of employees
2. organizational culture and ethical work environment
3. strategic goals and global standards
4. international assignments
Strategic Flexibility
Give this one a try later!
Involves coping with the uncertainty and risks of hypercompetitive
environments. Must first overcome built-up organizational intertia in old
competencies and strategies.
This requires developing the capacity for continuous learning and applying
the new and updated skill sets and competencies to the firm's competitive
advantage.
Competitive Advantage
Give this one a try later!
Firm has this when it implements a strategy that creates superior value for
customers and that competitors cannot duplicate or find too costly to
imitate
Firms achieve strategic competitiveness and earn above-avg returns when
their core competencies are effectively acquired, bundled, and leveraged.
Over time, the benefits of any value-creating strategy can be duplicated by
competitors. All competitive advantages have a limited life.
Sustainability of a competitive advantage is a function of the rate of core
, competence obsolescence because of environmental changes, the
availability of substitutes for the core competence, and the imitability of the
core competence.
Firms should manage current core competencies while simultaneously
developing new ones.
External Environment Analysis
Give this one a try later!
Scanning- identifying the early signs of environmental changes and trends.
Involves studying all segments of the general environment. Scanning
should be industry appropriate and reveals rough data in need of deeper
analysis.
Monitoring- detecting meaning through ongoing observations of
environmental changes and trends.
Forecasting- developing projections of anticipated outcomes based on
monitored changes and trends.
Assessing- determining the timing and importance of environmental
changes and trends for firms' strategies and their management.
Strategic Leaders
Give this one a try later!
, People located at different levels of the firm who use the strategic mgmt
process to select strategic actions that help the firm achieve its vision and
fulfill its mission.
-have a strong strategic orientation that relies on thorough analysis when
taking action
-are located at various levels throughout a firm
-want the firm and its people to accomplish more
-are innovative thinkers/promote innovation
-can leverage relationships with external parties while simultaneously
promoting exploratory learning that contributes to a firms knowledge base
-have an ambicultural (global mindset) approach to mgmt
The Technological Segment
Give this one a try later!
Creating new knowledge and translating it into products, outputs,
processes, and materials. Involves:
-product innovations
-rapid technological change and the risk of disruption
-knowledge application
-growth of the internet
-new communication technologies
Best to be an early adopter of new tech.
Building Core Competencies and Sustainable Competitive Advantage
Give this one a try later!
