Core concepts and key Points
Management-Core concepts and key Points
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Chapter 1 Core Concepts 1) A company's strategy consists of the competitive moves and business approaches that managers are employing to grow the business, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organizational performance. 2) A company achieves sustainable competitive advantage when an attractive number of buyers prefer its products or services over the offerings of competitors and when the basis for this preference is durable. 3) Changing circumstances and ongoing management efforts to improve the strategy cause a company's strategy to evolve over time--a condition that makes the task of crafting a strategy a work in progress, not a one-time event. 4) A company's strategy is shaped partly by management analysis and choice and partly by the necessity of adapting and learning by doing. 5) A strategy cannot be considered...
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