Assignment 2: Competitive Strategies

Revisions for the 7th edition by Eric D. Yordy, The W. A. Franke College of Business

Nickels, W., McHugh, J., & McHugh, S. (2013). Understanding Business. (10th ed.) New York: McGraw Hill/Irwin.

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3.8 Identify sources and uses of short-term financing. 3.9 Evaluate how the business policies of a firm affect accounts receivable and inventories.

This paper was conducted as a Discussion Board Post assigned by Professor J. Reinke of: Liberty University, Graduate School of Business, Lynchburg, Virginia 24515.

Fall 2009 This case was prepared by Itir Karaesmen and Inbal Yahav of Robert H. Smith School of Business at University of Maryland, College Park. The names, locations, and other information included

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The Business Strategy and Policy course relies on conceptual and analytical skills to examine the challenges of firms. We apply and integrate analytical techniques from accounting, finance, management, marketing, economics, and related business disciplines. Two capabilities are of particular importance: (1) the ability to critically evaluate the profit potential of industries or environments and deal with the threats and opportunities presented by each; and (2) an

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Sources of information:Bevan J, Dransfield R, Coupland-Smith H, Goymer J and Richards C – BTEC Level 3 National Business StudentBook 1 (Pearson, 2009) ISBN 9781846906343Bevan J, Goymer J, Richards C and Richards N – BTEC Level 3 National Business Student Book 2(Pearson, 2009) ISBN 9781846906350Coupland-Smith H and Mencattelli C – BTEC Level 3 National Business Teaching Resource Pack(Pearson, 2009) ISBN

The Case Study is provided by the Harvard Business School and is considered necessary reading prior to the understanding the responses contained herein. This paper is

The three generic strategies were identified by Porter (1985), who argues that in order to sustain

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“Competitive strategy involves positioning a business to maximize the value of the capabilities that distinguish it from its competitor’s” (Porter 1980:47). A successful business plan requires first and foremost the formation of an appropriate strategy. Through the implementation of a suitable strategy, the company is able to obtain its own industry niche and gain an understanding of its customers (Porter 1985). Whichever strategy is adopted it must be adequately integrated within the firms goals and missions to achieve a competitive advantage (Parker and Helms 1992).