Quiz Bowl Prep

For Strategy class

Core Rigidities

Prior successful investments/decisions in processes, culture, and identity can limit the ability to respond to change.

Contingent Relationship

A relationship between variables where one variable's outcome depends on the state or condition of another variable, often influencing decision-making in uncertain environments.

Change Driver

A factor that compels or accelerates organizational change, often due to evolving market conditions, technology, or consumer preferences.

Business Model Canvas

Helps startups plan their business by finding the following: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, Cost Structure

Business Model

Pretty generic, no advantages, no unique customer value proposition, Customer focuses on the price

Strategy

Differentiation, Competitive advantage is possible, understand and appeal to customer needs, customers weigh message, features, quality, and price

Levels of Firm Analysis

Industry —> Competitive Space —> Business Model —>Business Strategy —> Functional Strategy

Strategic Minimum

The minimum a firm needs to do in order to even compete in the market