Strategic and international Management at TU München

Flashcards and summaries for Strategic and international Management at the TU München

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Exemplary flashcards for Strategic and international Management at the TU München on StudySmarter:

What is the nature and characteristics of competitive advantage?

Exemplary flashcards for Strategic and international Management at the TU München on StudySmarter:

What are the generic competitive strategies?

Exemplary flashcards for Strategic and international Management at the TU München on StudySmarter:

Of what does the differentiation strategy consist?

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Of what does the price leadership strategy consist?

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What are the five elements of forming a strategy?

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How should a target market be selected?

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What are the dimensions of economic logic that must be specified to form a strategy?

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What are typical revenue models?

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What are possible reasons for foreign market entry?

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What are elements of market entry strategies?

Exemplary flashcards for Strategic and international Management at the TU München on StudySmarter:

Which factors influence target market selection?

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What local factors influence the entry mode choice?

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Exemplary flashcards for Strategic and international Management at the TU München on StudySmarter:

Strategic and international Management

What is the nature and characteristics of competitive advantage?

The company creates value for its customers (value / price ratio greater 1)

The realized price is above the company’s costs

The value / price ratio of the company is superior to the value / price ratio of its competitors

The area where the company provides superior value is
• Perceived by customers
• Important to customers
• Defendable against competitors

Strategic and international Management

What are the generic competitive strategies?

“Differentiation”

“Price Leadership”

Strategic and international Management

Of what does the differentiation strategy consist?

Better perceived value (Providing a unique pro- duct/service, that is valuable to the customer) assuming similar prices

Strategic and international Management

Of what does the price leadership strategy consist?

Better prices assuming same value compared to competitors

Strategic and international Management

What are the five elements of forming a strategy?

Arenas: In which markets do we want to be active in?

Differentiators: Which competitive advantages do we want to achieve?

Economic Logic/Financials: How will we obtain revenues and profits?

Vehicles/Systems: What is our business system?

Staging/Timing: What will be our speed and sequence of moves?

Strategic and international Management

How should a target market be selected?

Balancing industry attractiveness and business strengths

Strategic and international Management

What are the dimensions of economic logic that must be specified to form a strategy?

What is your revenue model?

What determines your costs?

What is your margin model?

When does your cash flow-in and flow-out?

Strategic and international Management

What are typical revenue models?

Transfer of ownership (sale of products)

Pay-per-use (use of products, consumption of services)

Membership model (membership fee for basic offer, payment of additional services, granting access to a product bundle)

Cross-subsidy of complementary goods (add-on products, maintenance/servicing)

Two-sided market model (customer/user frequency, advertisement, pop-ups, re-sale of attention)

Strategic and international Management

What are possible reasons for foreign market entry?

Triggered by foreign competitors that entered the host market (cross-investment, tit for tat)

Triggered by domestic competitors that previously entered the foreign market (following the leader)

Necessity as consequence of business model design (economies of scale)

Proactive expansion from firm specific advantages

Strategic and international Management

What are elements of market entry strategies?

Arenas – Target market selection: Where to enter?

Advantages – Target market customization: What to offer?

Vehicles – Entry mode: How to enter?

Timing – Market entry timing: When to enter?

Economics – Target market business case: How to profit?

Strategic and international Management

Which factors influence target market selection?

Institutional factors - Is it legally possible to enter?

Market potential - Is the revenue potential attractive?

Competitive barriers - Is the potential share attractive?

Liabilities of foreignness - How dissimilar is the target country?

Strategic and international Management

What local factors influence the entry mode choice?

Are we allowed to enter without local partner?

Should we own contact to end customer?

Should we determine business model?

Can partner operations efficiently be integrated?

Are markets for resources efficient?

Are markets for firms efficient?

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