What is strategic competitiveness, strategy, competitive advantage, above-average returns and strategic management process?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter8: Strategic Analysis: Understanding A Firm’s Competitive Environment
Section: Chapter Questions
Problem 8CRQ: What are generic competitive strategies, and how are they implemented in a firms value chain...
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1. What is strategic competitiveness, strategy, competitive advantage, above-average returns and strategic management process? 2. What are the characteristics of the current competitive landscape? What two factors are the primary drivers of this landscape? 3. According to the I/O model, what should a firm do to earn above-average returns? 4. What does the resource-based model suggest a firm should do to earn above- average returns? 5. What are vision and mission? What is their value for the strategic management process? 6. What are stakeholders? How do the three primary stakeholder groups influence organizations? 7. How would you describe the work of strategic leaders? 8. What are the elements of the strategic management process? How are they interrelated?
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