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

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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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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