Do you think it is rational for workers to prefer sticky wages to wage cuts, when the consequence of sticky wages is unemployment for some workers? Why or why not? How do the reasons for sticky wages explained in this section apply to your argument?
MGT 3830 Chapter 1 CHAPTER 1: WHAT IS STRATEGY Outline: 1.1- What strategy is: Gaining & Sustaining Competitive Advantage § What is competitive advantage § Industry vs. firm effects determining performance 1.2- Stakeholders & Competitive Advantage § Stakeholder strategy § Stakeholder impact analysis 1.3- The AFI Strategy Framework 1.4- Implications for the Strategist Learning Objectives: 1.1- Explain the role of strategy in a firm’s quest for competitive advantage 1.2- Define competitive advantage, sustainable competitive advantage, competitive disadvantage, & competitive parity 1.3- Differentiate the roles of firm effects in industry effects in determining performance 1
