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Book/movie review
22/08/2022
1)Differentiation is a popular strategy among successful firms. What are the five most important things a company should do when implementing a differentiation strategy, and why? Too often people mistakenly employ “cost leadership†tactics when pursuing a differentiation strategy, so list those things on which companies must focus to be successful differentiators. Note: when asked to list 5 things, this does not mean to only list, because listing is not a DEMONSTRATION of your thinking. Write about why these “things†are important to differentiation.
2) Explain the difference between Corporate-Level strategy, Business-Level strategy, and Functional-Level strategy, and explain why you believe most business experts feel that it is critical for a company to have all three of these strategies aligned (fit together – supportive of one another). Why do you agree (or disagree) that strategy alignment is vital to a company’s performance?
3) Briefly list the functional areas (such as marketing and finance) of business, then list and prioritize the three most important areas when it comes to business performance (be sure to explain why these are the most important)?
4) In your own words, define and describe technology. Why is technology inherently good (or bad)? Is technology good for society? Is technology good for you or your career? How does technology influence/impact business and business performance?
5) Why is competition good (or bad)? I was once playing a friendly mini tennis tournament (it was a ladder format so competitors kept playing as long as they won, and when they lost they would have to wait in a long line to play again). After I beat two opponents a friend of mine was next in line to play. I was a much better player so I knew I would win, and because he was a friend I lost my intensity and just played for fun (I was friendly). What happened is that after falling behind I could not get my game back and I lost. I was VERY angry with myself. Afterwards, I had an interesting conversation with my victorious friend – a conversation I will never forget. He said he did NOT appreciate me taking it easy on him. He said I broke a sacred trust among competitors to give it my best – to always bring my “A†game because playing against the best makes him raise his game and the result is that his game improves. He argued that playing down to someone hurts the game of both players. Do you believe this applies in the business world as well (why or why not)? Again, why is competition good (or bad)?
Things to do when implementing a differentiation strategy1. Understand the business of their customersFor any company who want to implement the differential strategy has to have a clear…
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