Who is Michael Porter? What is his argument as it relates to business strategy?
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Who is Michael Porter? What is his argument as it relates to business strategy?
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- Explain in brief the concept of strategic thinking? And illustrate five (5) ways to improve individual strategic thinking skills? Write more than 250 wordsThe use of management science in "market analysis". List three positive and negative outcomes from this application of management science.What is ConocoPhillips Business-Level Strategies?
- What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group?How does strategic analysis help a firm develop its own strategic position? Why should that position be unique?Michael Porter argues that business operates within the frenzy and flux of five different forces that combine to determine its profitability. What is one way to boost your customers competitive position? O 1) Help customers make better decisions 2) Provide further discounts to stop competition O 3) Form a diamond team approach 4) Help customers prevent new entrants in the market
- Successful businesses follow either cost leadership or product differentiation business strategy. Here, I am not differentiating between broad and focused strategies. Based on their chosen strategies, they would have developed different capabilities and created different business processes (see the Competitive Priorities and Capabilities section in Chapter 1). Please consider Chipotle and McDonald’s business processes, competitive priorities, and capabilities. Based on your consideration, can you determine their chosen business strategies?What are the key elements of a well-developed strategic plan? Discuss how strategic planning helps organizations set clear goals, allocate resources, and align their efforts towards achieving long-term success.4. What strategic goal can an IS attain that does not involve wresting market share from competitors?Provide some business exambles.