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Learning Objectives
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By the end of this chapter students should

  • Understand the concepts competitive advantage, generic strategy and the value chain and be able to provide practical up to date examples and applications of these concepts to business organisations
  • Be familiar with Porter's 5 forces model and apply this model to assess industry attractiveness
  • Understand the notion of stratgy as 'imperfections' and be aware of the sources and implications of market imperfections
  • Be able to distinguish different generic strategies and understand how competitive strategies are articulated and implemented in practice
  • Be able to describe an organisation's strategy and be aware of the factors affecting the stability of strategy over time
  • Be familiar with the intended versus emergent strategies debate
  • Be able to critically evaluate a strategic plan and assess progress towards successful implementation of the plan






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