Module 5 lecture recording – focus questions.
As you watch module 5, answer the following questions. Completing these questions will provide a summary of module 5 key points.
• In your own words what is competitive advantage?
• What are the 5 groups of economic environment stakeholders for organizations?
• What is competition a result of?
• List Porter’s five competitive forces? What is meant by saying low or high force?
• What are four broad competitive strategies? Give an example of each
• What is a value chain?
• What is the difference between primary and support activities in a value chain?
Are inbound logistics primary or support?
• What are the two other chains aside from the value chain given in the module.
• What is the difference between goods and services? How do goods and services relate to value?
• What role does an information system play in gaining competitive advantage.