https://open.lib.umn.edu/strategicmanagement/chapt…
https://open.lib.umn.edu/principlesmanagement/chap…
https://panmore.com/wendys-pestel-pestle-analysis-…
https://open.lib.umn.edu/strategicmanagement/chapt…
https://hbr.org/2008/01/the-five-competitive-force…
https://hbr.org/2010/11/how-to-stress-test-your-strate
https://hbr.org/2010/11/how-to-stress-test-your-st…
https://hbr.org/2009/09/how-to-cut-costsstrategica…
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1. What is the difference between a strategy and a tactic?
Strategy is the direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.
Tactic is a plan or method of achieving an objective, especially a military one.
2. What are the five competitive forces?
The five compet
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1. The bargaining power of buyers
2. The bargaining power of suppliers
3. The threat of new entrants
4. The threat of substitutes
5. The intensity of rivalry among existing competitors
3. What is the difference between a primary and secondary activity?
Primary activities are directly concerned with the physical creation or provision of the product or service.
Secondary activities are concerned with the supporting activities that add value to the primary activities.
4. What is the difference between cost-based and resource-based strategies?
Cost-based strategies are based on the idea of achieving a low cost base and a high price relative to competitors.
Resource-based strategies are based on the idea of achieving a sustained competitive advantage by exploiting the unique resources and competences of the organization.
5. What is the difference between a generic and a grand strategy?
Generic strategies are concerned with the overall direction of the organization and the basic ways in which it competes.
Grand strategies are concerned with the overall direction of the organization and the basic ways in which it competes.
6. What is the difference between a diversification and an integration strategy?
Diversification strategies are concerned with the idea of expanding the activities of the organization into new businesses or new markets.
Integration strategies are concerned with the idea of integrating the
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