Explain the quote in a real practical, business way.
Be very clear and specific in your answers. Avoid redundancy. I encourage you to give me too much information versus not enough. State all assumptions. Avoid rambling and the use of meaningless words/phrases (e.g., “doing better than competition” – tell me how and in what areas. Measured how?). All questions are equally weighted. Do not answer with a series of questions. Do not solely rely on examples to answer the questions; use examples to enhance your answer. 1.Fully explain the statement/quote (from Porter’s article, What is Strategy) below and why it is true. In your answers, please explain what is meant by operational effectiveness. I want you to explain the quote as if you were informing those top managers around you in order for them to realize how your company is going to achieve true competitive excellence and not settle for mediocrity. Explain the quote in a real practical, business way. “Constant improvement in operational effectiveness is necessary to achieve superior profitability. However, it is not usually sufficient. Few companies have competed successfully on the basis of operational effectiveness over an extended period, and staying ahead of rivals gets harder every day.”In your response to this question, I want you to incorporate the following terminology/concepts along with full explanations of what the terminology/concepts mean: imitation, benchmarking, diffusion of best practices, the productivity frontier, competitive convergence, and zero-sum competition. These concepts will help you to answer the quote.2.Fully explain the statement/quote (from Porter’s article, What is Strategy) below and why it is true. In your answers, please explain what is meant by fit and sustainability.Explain the quote as if you were informing those top managers around you in order for them to realize how your company is going to achieve true competitive excellence and not settle for mediocrity. Explain the quote in a real practical, business way. “Strategic fit among many activities is fundamental not only to competitive advantage but also to the sustainability of that advantage.”
