Definition Chapter 6

The assets caapabilities processes informatino and knowledge that an organixation uses to improve its effectiveness and efficienc, create and sustain competitive advantage and fulfill a need or solve a problem

Providing greater value for customers than competitors can

A competitive advantage that other companies have tried unsuccesfuly to duplicate and have for the moment stopped trying to duplicate

Resources that allow companies to improve efficency and effectiveness

Resources that are not controlled or possesed by many competing firms

Resources that are impossible or extremely costly for other firms to duplicate

Resources that produce value or competitive advantage and have no equivalent substitites or replacements

A reluctance to change strategies or competitive practices that have been succesful in the past

A discrepancy between a companys intended strategy and te stategic actions managers take when implementing that strategy

An assessment of the strengths and weaknesses in an organizations internal envoirnment and the opportunities and threats in its external enviornment

What a company can make do or perform better than its competitiors

The internal decision making routines problem solving processes and organizational culture that determine how efficiently inputs can be turned into outputs

Group of companies within an industry that top managers choose to compare evaluate and benchmark strategic threats and opportunities

Central companies in strategic group

The firms in a stategic group that follows strategies related to but somewhat different from those of the core firms