BUSI 770 Liberty University Competitive Approach Decision Models Discussion

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BUSI 770

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References that can be used:

  • Gamble, Peteraf, & Thompson: Essentials of Strategic Management
  • Keller: Every Good Endeavor: Connecting Your Work to God's Work
  • Rumelt: Good Strategy/Bad Strategy: The Difference and Why It Matters
  • Krogerus & Tschäppeler: The Decision Book: 50 Models for Strategic Thinking

 

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BUSI 770 Discussion Thread: Competitive Approach, Competitive Scope, and Decision Models Deciding on a competitive approach for the company is critical to the process of developing a company’s strategy. Careful consideration must also be given to the company’s competitive scope. Decision models continue to impact strategy development and should continuously be evaluated, and others considered. Minimum of 500 words in the body Minimum of 2 sources from the literature in addition to course texts Current APA format must be used. Use the following outline: Introduction Process: Deciding on a Competitive Approach ‐ What is the process in no less than 200 words Strategic Thinking: Deciding on Competitive Scope ‐ What is it and why is it important in no less than 200 words • Geographic Scope • Production / Distribution Scope • Decision Model: no less than 100 words • How do my decision models aid / hinder this and why • What decision models are being considered and why • Conclusion • Support your factual assertions with citations. • • • Include an Annotated Bibliography, in current APA format, of the 2 additional Sources: Minimum of 250 words in each annotation Summary of Key Points Evaluation of the Quality of the Publication Evaluation of the Quality of the Author(s) Where this fits into the discussion Page 1 of 1
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Competitive Approach, Competitive Scope, and Decision Models

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Competitive Approach, Competitive Scope, and Decision Models
Introduction
The development of a business strategy considers the competitive approach to be taken.
The competitive scope of the business is also put into consideration when developing strategies.
Several decision models should be evaluated before deciding on the best model to use to develop
strategies. The discussion looks at the process of deciding on a competitive approach, deciding
on the competitive scope, geographic stroke, distribution stroke, and the impact of decision
models on the process.
Process: Deciding on a competitive approach
The business should know the source of competitiveness. Determining the possible
sources of competition will help the business know the most appropriate approach to take. The
sources of competition should be determined relative to competition and customers. The process
of determination of the source of competition should consider both internal and external factors.
After the determination of the source of competition, the business should focus on key products
and markets. Knowing the type of competition, the business is facing will help determine the
best product or service that can be offered (Gamble et al 2013). Maximization of profits is
desired and therefore, products or services offered must face little or no competition.
The value chain is then assessed to determine its effectiveness to deliver key products to
the market. After the target market is identified, the business has to determine whether it will be
able to control the demand and supply curve. A value chain has to be developed to deliver goods
and services. Effectiveness should be achieved in the process of service delivery. The value
chain effectiveness data is then used to deliver decisions that create a competitive advantage. The

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business should compete fairly in the market. High market control is desired (Gamble et al.,
2013). The most effective value chain developed is used in the delivery of services.
Strategic thinking: Deciding on the competitive scope
The process of deciding on the competitive scope involves measuring the breadth of a
business focus. The breadth can be measured by market segments, targeted physical locations,
range of companies, and the degree to which it is integrated. The number of the value chains in
which the business is engaged is determined. The value chains stu...


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