The flashcards below were created by user PatrickPopa on FreezingBlue Flashcards.

  1. Barriers to entry
    Obstacles a firm may face while trying to enter a market or an industy
  2. A competitive advantage that occurs when a firm is first to offer desirable products or services that secure customer loyalty
    First mover advantage
  3. The pressure that a supplier or buyer can exert on a company
    Bargaining Power
  4. A theory that a firm can develop a competitive advantage through the collection and harvesting of resources
    Resource based view of the firm
  5. A tool that allows managers to take a snapshot of their firm's internal strengths and weaknesses as well as the opportunities and threats that are evident in the external enironment
    SWOT analysis
  6. The capability to identify and react to changes in in the external environment and to mobilize internal resources to deal with those changes
    Strategic flexibility
  7. Cost savings achieved when the volume of a product produced by a firm enables it to reduce per unit costs
    Economies of scale
  8. A strategy in which a firm seeks to be unique in its industry along a dimension or a group of dimensions that are valued by consumers
  9. A strategy in which a company focuses its sales efforts on a specific geographical region, a specific group of purchasers, or a specific product type
  10. A systematic way of examining all of the activities a firm performs and determining how they interact to form a source of competitive advantage
    Value chain analysis
  11. The activities involved in the physical creation of the product and its sale and transfer to the buyer
    Primary activities
  12. Activities that provide the support necessary for the primary activities to occur
    Support activities
Card Set:
2013-10-17 02:19:28

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