MGT 490 chapter 3 notes
MGT 490 chapter 3 notes Management 490
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This 2 page Class Notes was uploaded by Briana Notetaker on Sunday March 6, 2016. The Class Notes belongs to Management 490 at Western Illinois University taught by Yin-Chi Liao in Winter 2016. Since its upload, it has received 35 views. For similar materials see Business Strategy in Business, management at Western Illinois University.
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Date Created: 03/06/16
MGT 490 Internal Analysis Chapter 3 Value Chain Analysis: a sequential process of value creating activities Primary Activities: physical creation of the product Inbound logistics Operations Outbound logistics Sales and marketing Service Inbound Logistics: receiving/storing distributing inputs (material handling, warehousing, inventory control, and returns to supplier) Operations: all activities associated with transforming inputs into the final product form (machining, packaging, assembly testing, and printing) Outbound Logistics: colleting, storing, and distributing the product or service to buyers (finished goods, material handling, order processing, scheduling) Sales and marketing: activities associated with purchases of products and services by end users and the inducements used to get them to make purchases (advertising, promotion, sales force pricing) Service: actions associated with providing service to enhance or maintain the value of the product Support Activities: add value by themselves or by relationships with both primary and other support activities Procurement Technology development Human resource management General administration Procurement: purchasing inputs used in the firm’s value chain (raw material, supplies machinery, laboratory equipment) Technology development: development of new knowledge that is applied to the firms operation General administration: supports the entire value chain and not individual activities (general management, planning, finance, accounting, information systems Interrelationships: the exchange of information among firms and between firms and stakeholders Resource based view of the firm consists of: Internal analysis External analysis of the industry and its competitive environment Competitive advantages: are due to their endowment of strategy resources that are valuable, rare, costly to imitate, and costly to substitute Tangible assets: easy to identify Physical assets (machinery) Financial resource (cash account and cash equivalents) Organizational resources (strategic planning process Technological resources (patents, copy rights) Intangible Resources: difficult for competitors to account for or imitate Human (trust managerial skills, experience and capabilities) Innovation and creativity (technical and scientific skills, innovation capacities) Reputation (brand name with customers and suppliers) Strategic resources: firms capabilities that are valuable, rare, and costly to imitate, and substitute Organizational capabilities: the competencies or skills that a firm deploys to transform inputs into outputs
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