Reword

Please reword these paragraphs in your own words do not copy from any websites or use the same words as in the paragraphs.

 Strategic Management, Ch. 5

• 1- The types of competitive advantage can be divided into three generic strategies as presented by Michael Porter.  Those three strategies are overall cost of leadership, differentiation, and focus.  The overall cost of leadership strategy is based on creating a low-cost position where an organization works through the value chain to lower the costs throughout the entire chain.  The differentiation strategy basically means that an organization will create products and or services that are unique and therefore differentiated from the competition.  The focus strategy works by focusing the attention to a certain product line or targeted market and then getting their advantage through either cost leadership or differentiation. 

Reference

Dess, G., Eisner, A., Lumpkin, G.T., & McNamara, G. (2014). Strategic management: Creating competitive advantages (7th ed). New York, NY: McGraw-Hill.

Strategic Management, Ch. 6

2-Market power is a firm’s ability to profit through restricting or controlling the supply to a market or coordinating with other companies to reduce costs.  Two ways this is achieved is by pooled negotiating power and by vertical integration.  With pooled negotiating power, businesses work together to bargain for the best prices.  Vertical integration is when a company or firm grows and becomes its own supplier or distributor

Strategic Management, Ch. 7

3-This chapter has an interesting section that speaks about managing political risk that can be caused by government actions. These risks that results from these actions can be detrimental to a business. But companies who are smart will identify and engage key influencer’s, such as legislative leaders, regulators, and local key officials, such as mayors or tribal heads. They further make the effort to identify which players are their supporters, which are indifferent but potentially could be influenced to support their case, and which are antagonistic. I worked in the housing market during the recent 2008 housing crisis, and one of the things I remember most was the number of alliances our company formed with public officials, industry leaders, and legislators.  Our town halls became less about our internal business plans and more about the industry as a whole. I really appreciated the transparency and felt our CEO made good choices to keep the business afloat during those difficult times

Understanding Strategic Direction

4-Heather Ridout points out how fundamental strategic direction is for an organization and that setting direction is really vital.  She also explains that other key roles that go along with strategic direction is choosing the right people, having those people in the right places, and setting the standards for the organization.  In my organization the issues of ensuring that the employees understand the strategic direction of the company can be addressed through constant and continuous communication with the employees.  By having the right managers in place in the right positions and setting the standards for the organization and then explaining those standards by both walking the talk and through trainings, the strategic direction can be ingrained in the employees to where it becomes second nature to them.  If everyone is pulling in the same obvious direction and has been explained the reason for it, the tendency will be to go with the flow.  My current leadership does a good job of it and is handling them in the right way.  Like all things, there is always room for improvement and we conduct activities to try to ensure we are at the top of our game such as kaizen and Gemma walks.

Clayton Christensen

   5-I totally agree with Professor Christensen in his lecture that online education is a disruptive technology that allows such schools the opportunity to move upmarket.  In the past, if a school wanted to be more prestigious to compete with the Harvard’s of the world, they had to offer more programs and expand their campuses which meant they also had to spend more and leave the low-cost structure that they usually started off with.  So essentially, brick and mortar schools that want to move upmarket have to replicate rather than disrupt the business models of the institutions in the center circles as Professor Christensen described.  In the past the schools in the center circle were almost unthreatened by other outer circle schools but now online education has thrown a technological curve ball that gives the online schools an advantage to be upwardly scalable.  As in other industries, technology comes along and gives businesses an advantage to grow in their industries.  It is my opinion that the future is bright for any education providers that decide to go online with their courses.  Many brick and mortar institutions are now offering online education together with their traditional classroom courses so the schools that are primarily online will start losing some of their customers.  All will need to continue to use the latest technology to try to remain one step ahead of their competition.

Please answer these posts as if you were talking to the person face to face. Use your own words and do not copy from any websites.

• 6-How else have you seen e-Commerce environments incorporate customer reviews and how is that helping service levels?

• 7-How have customer reviews affected your own buying decisions?

• 8-How have you seen effective leaders accomplish these basic leadership functions: setting goals and getting results?
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