ESSENTIALS OF STRATEGIC MANAGEMENT THE
QUEST FOR COMPETITIVE ADVANTAGE 8E BY
JOHN GAMBLE, ARTHUR THOMPSON AND
MARGARET PETERAF INSTRUCTOR SOLUTION
MANUAL
Strategies three central questions? - ANSWER Where are we now? Where do we
want to go from here? How are we going to get there?
A level of strategy: Corporate Strategy - ANSWER In what business or businesses
are we or should we be?
A level of strategy: Business Strategy - ANSWER How should we compete in a
particular level?
A level of strategy: Functional area strategy - ANSWER How do we implement the
chosen strategy?
A level of strategy: Operating strategy - ANSWER What specific actions should
each operating unit take?
Ways strategies can evolve over time? - ANSWER Incrementally, dramatically,
adaptively (reactive), and proactively
Strategy - ANSWER consists of the competitive moves and approaches
management has developed to attract and please customers, conduct operations,
grow the business, and achieve performance objectives.
Business model - ANSWER management's blueprint for delivering a product or
service to customers that will generate revenues sufficient to cover costs and yield
an attractive profit.
Customer value proposition - ANSWER A type of business model element that
firms use for satisfying buyer wants and needs at a perceived good value.
Profit Formula - ANSWER A type of business model element a firm sets out how
cost structure will allow for acceptable profits given the pricing tied to its customer
value proposition.
Fit (Test of a winning strategy) - ANSWER How well does the strategy fit the
company's situation?
Competitive Advantage (Test of a winning strategy) - ANSWER Is the company
achieving sustainable competitive advantage?
QUEST FOR COMPETITIVE ADVANTAGE 8E BY
JOHN GAMBLE, ARTHUR THOMPSON AND
MARGARET PETERAF INSTRUCTOR SOLUTION
MANUAL
Strategies three central questions? - ANSWER Where are we now? Where do we
want to go from here? How are we going to get there?
A level of strategy: Corporate Strategy - ANSWER In what business or businesses
are we or should we be?
A level of strategy: Business Strategy - ANSWER How should we compete in a
particular level?
A level of strategy: Functional area strategy - ANSWER How do we implement the
chosen strategy?
A level of strategy: Operating strategy - ANSWER What specific actions should
each operating unit take?
Ways strategies can evolve over time? - ANSWER Incrementally, dramatically,
adaptively (reactive), and proactively
Strategy - ANSWER consists of the competitive moves and approaches
management has developed to attract and please customers, conduct operations,
grow the business, and achieve performance objectives.
Business model - ANSWER management's blueprint for delivering a product or
service to customers that will generate revenues sufficient to cover costs and yield
an attractive profit.
Customer value proposition - ANSWER A type of business model element that
firms use for satisfying buyer wants and needs at a perceived good value.
Profit Formula - ANSWER A type of business model element a firm sets out how
cost structure will allow for acceptable profits given the pricing tied to its customer
value proposition.
Fit (Test of a winning strategy) - ANSWER How well does the strategy fit the
company's situation?
Competitive Advantage (Test of a winning strategy) - ANSWER Is the company
achieving sustainable competitive advantage?
