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SMMCG10[BS-3]LN5&LN6, Group members, Result in competitive advantage -…

- - - - manufacturing industry
        
        primary activities
        
        inbound supplier, logistics, intermediate and final production operation
        distribution logistics, marketing, post sales customer service
        
        support activities
        
        R&D, information systems, account and finance, human resources, procurement
    - - service industry
- - - - Perfect people and personnel
      - Skill level
      - Sufficient capital
      - Technology and analytics
    - - Playing an important role
      - Providing value to customers
    - - few companies "persist in" improving themselves
      - Questioning every decision and known answer
      - Rapidly changing reality
      - Be willing to critically challenge every assumption
  - - - Spending lots of money on recruiting and retaining financial representatives
    - - Continuously moving forward even though on the top
    - - Acquiring costumer information
      - Doing well on building interaction with costumers surely
  - - - Even though being better than everyone else's, that doesn't matter to us
      - Always thinking we can make a better product than the last
      - Never being relaxed when we are ahead of others
    - - Customers always want a lot more than we can deliver
      - Judging ourselves by costumer's action
    - - The role that we play is relative to the role that our channel
      - Coopetition with each other
      - Competing with channel cause harm
    - - Coming from right people
        
        Be willing to improve and innovate in any position
      - Deriving from right culture
        
        Being never satisfied with our current status quo
- - - - industry effects
      - company effects(more important)
        
        EX. Southwest Airlines
        
        Southwest Airlines do really well even when they are in poorly performing industries
        
        It has averaged net margins of 5.8% while the airline industry had average net margins of around negative 1%
        
        Southwest’s stock has had cumulative return of 4000% between 1990 and 2014,which is about two times the return on the S&P500 index over the same period.
        
        high performance
        
        having and sustaining a competitive advantage in your industry
        
        is differences between firms in the same industry
  - - - stock market value
      - accounting profits
      - free cash flows
      - EVA(economic value added)
        
        the difference between the value generated and costs incurred by the company for the average customer
        
        measure exactly how much value is being created for consumers
        
        costumer surplus+ producer surplus
    - - Competition is some set of rivals of the firm operating in the same industry
- - - - intangible becomes relatively important
- - - - resources mobility
      - property rights
      - tacit knowledge
      - complexity
      - casual ambiguity
  - - - V : Yes
      - R : No
      - I : No
    - - V : Yes
      - R : Yes
      - I : No
    - - V : Yes
      - R : Yes
      - I : Yes