Required Assignment Readings:
• Grant, Robert M. (Spring, 1991). The Resource Based Theory of Competitive Advantage: Implications for Strategy Formulation, California Management Review, Vol. 33, Number 3. (UMUC Library) SEE FILE ATTACHED
• Kaplan, Robert S. and Norton, David P. (2007). Using the Balanced Scorecard as a Strategic Management System (HBSP)
• Rogers, Paul and Blenko, Marcia (2006). Who Has the D? How Clear Decision Roles Enhance Organizational Performance (HBSP)
• Allio, Robert J. and Fahey, Liam (2012). Joan Magretta: What Executives can Learn from Revisiting Michael Porter. (UMUC Library) SEE FILE ATTACHED
• Hutzschenreuter, Thomas and Israel, Sascha (Dec. 2009). A Review of Empirical Research on Dynamic Competitive Strategy. (UMUC Library) SEE FILE ATTACHED
Multimedia (Click on the link)
• YouTube – How to Develop Competitive Advantage
MBA Reference Guides
• Competitive Advantage
• Porter’s Five Forces
• Porter’s Generic Strategies
Strategy Simulation Game Paper (10%)
The following is a highly educational interactive exercise, which visually demonstrates the impact of various strategic decisions that you can make, under different kinds of industry characteristics. You may play the simulation as many times as you like.
Tata Interactive Systems. Economics for Managerial Decision Making.
Tata Strategy Simulation Model (CLICK the LINK)
IMPORTANT: ACCESSING THE TATA SIMULATION EXERCISE
Sometimes, as new versions of internet browsers come out, they may make it difficult to access the Tata Simulation. We have just tested IE8, Mozilla Firefox, Opera and Google Chrome and they all are able to access the simulation. Sorry for any inconvenience, but we know you will find the simulation of great educational value. NOTE: You may have to copy this link and put it directly in your browser window to reach the simulation. If you are having any difficulty accessing the simulation please contact your Teaching Assistant for advice.
After playing the simulation game, write a 5-6 page paper covering the following questions. Use and REFER (meaning you have to cite the readings within your paper) to the assigned readings and multimedia to support your views!!!!!!!!
1. Please define each type of market structure (monopoly, oligopoly, monopolistic competition, and perfect competition). Be sure to paraphrase information in your own words, and cite your sources.
2. Describe the competitive advantage/unique resources Quasar Computers possesses in the monopoly market scenario. To this end, describe why intellectual property rights are important in a capitalistic market system. How might a firm hedge against an expiring patent so they can maintain some sort of competitive advantage into the future?
3. In an oligopoly firms try to avoid competing on prices, and probably try to avoid competing in other aspects to the marketing mix (products, promotion, placing). Is this possible in this market?
4. In a monopoly scenario, the firm does not need to worry about generic strategies. However, as firms move through successively more competitive market structures, they need to consider which type of generic strategy to implement. After referring to Porter’s Generic Strategies in the MBA Reference Guide, comment on which strategy you recommend depending on the oligopoly, monopolistic competition, and perfect competition scenarios. Please make sure to justify your answers.
5. Consider the perfect competition scenario. After reading the Porter’s Five Forces that is included in the MBA Reference Guide, rate each of the forces as high-medium-low and justify your rankings. In a perfect competition scenario, is the computer industry attractive? Why, or why not?