Homework
This homework covers chapter three, Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability, and chapter four, Building Competitive Advantage through Functional-Level Strategy.
• Chapter 3 Questions:
o Define value creation for customers and the components that can be used to determine value creation per unit. How value creation is related to competitive advantage?
o What is a value chain? Why is efficiency so important in an organizations' value chain activities?
o What building blocks in value creation can an organization use to sustain competitive advantage? How best you can sustain competitive advantage?
o What does internal analysis help a company to determine? How does this process contribute to the overall health (value creation, competitive advantage, profitability) of a company?
o Why do companies fail? How does competitive advantage relate to failure? If competitive advantage is not maintained, what would be the consequence for a company?
• Chapter 4 Questions:
o What are functional level strategies? How they relate to competitive advantage of a company? How can functional level strategy contribute to efficiency?
o Describe economies of scale and how it relates to competitive advantage. What strategic significance does economies of scale have for a company? What it does with the competitive advantage of a company?
o How does innovation relate to competitive advantage? What can be done to sustain innovation in a company?
o How does customer relations contribute to competitive advantage? What is the effect of customer relations on value creation and its components?
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.