Week 4 - Reading and Resources

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School

Southern New Hampshire University *

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Course

540

Subject

Electrical Engineering

Date

Jan 9, 2024

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pdf

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3

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Introduction In this resource section, you will explore opportunities and threats related to the external environment. You will also investigate international strategies and the different cultural distances. Finally, you will delve into the differentiation advantage and categories of differentiation. Note: Note: You may have reviewed some of these reading resources in the previous weeks. It is recommended you revisit the listed chapters to refresh your knowledge. Required Resources Textbook Textbook: Strategic Management (Dyer) , Chapter 2, “State Farm Adjusts to a Changing World” box and “Determining the Right Landscape: Defining a Firm’s Industry” section (including “Strategy in Practice” box) (/d2l/common/dialogs/quickLink/quickLink.d2l? ou=1295961&type=lti&rcode=snhu- 1965319&srcou=811592) This chapter discusses the importance of correctly identifying and choosing a firm’s industries and markets. It also evaluates the five major forces that shape average firm profitability within the industries. This chapter will discuss how understanding these five forces is imperative for developing a strategy. This chapter will also allow you to investigate situations in which entry into attractive and unattractive industries follows “new thinking” rather than conventional wisdom. Finally, you will identify the factors ! Listen " #
within the general environment that affect the firm and the industry profitability. As you read, consider the following questions: What are the problems created by services such as Airbnb or Vacation Rental for State Farm policyholders? How does the U.S. government define industry ? How did the State Farm Mutual Automobile Insurance company's new value proposition affect small-town and rural farmers? Textbook Textbook: Strategic Management (Dyer) , Chapter 9, "Where Firms Should Expand” section (/d2l/common/dialogs/quickLink/quickLink.d2l? ou=1295961&type=lti&rcode=snhu- 1965322&srcou=811592) In Chapter 9 of this resource, you will explore the globalization of business and why firms choose to expand internationally. This chapter will also describe different kinds of distance and how this affects the firms when they expand. Finally, in this chapter you will delve into the three primary types of international strategies and learn when a firm should use each of the four ways to enter a foreign market. As you read, consider the following questions: What is meant by cultural distance ? What is meant by administrative distance ? What is meant by economic distance ? Video: Video: Animated Executive Summary: What Is Strategy? (/d2l/common/dialogs/quickLink/quickLink.d2l? ou=1295961&type=lti&rcode=snhu- 1969230&srcou=811592) (8:46) This WileyPLUS video explores the definition of strategy and what is meant by strategy statements. As you watch the video, consider the following questions: What is strategy?
What is strategy? Which four questions are answered by a good strategy? What is the key strategy implemented by Ikea? Video: Video: Strategy 2.0: Differentiation Advantage (/d2l/common/dialogs/quickLink/quickLink.d2l? ou=1295961&type=lti&rcode=snhu- 1969232&srcou=811592) (9:16) This WileyPLUS video explores differentiation advantage; functional, social, and emotional dimensions; and categories of differentiation. As you watch, consider the following questions: What is the differentiation advantage? What are the four categories of differentiation? What is the product differentiation strategy of Facebook? Additional Support (Optional) Videos: Videos: Tableau Training Videos (https://www.tableau.com/learn/training/20204) Explore this video training series to help you build upon your Tableau skill set.
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