Not important to the business.

Physical Components of Business.

Not physical but critical to a business's relationships with customers.

Not physical and not important for a business relationship.

Firms that enter the market after the first mover.

Firms that lead the market.

Customers that follow their business to different locations.

Customers that follow trends in the market.

Organize goals and values

Change

Keep up with employees

Conserve resources

A well-detailed document to solving business problems

A narrow approach to accomplish a mission

A broad approach to accomplish a business mission

A useful tool for employee's to reference.

Be broad and immeasurable

Be clear, and widely known by all of the firm

Make money

Mention competitors

Determines if the firm is reaching its goals.

Measures the square footage of a business location.

Measures Employee happiness and performance quality.

Determines specific skills.

Clear about where and how they will compete

Well organized and competitive

Have a disadvantage in competition

Be kind and give raises to employee

An advantage that will provide little change to the market

An advantage that will bring in more revenue

An advantage that will run out the competition

An advantage that others cannot immediately copy

4-5

5-8

8-10

It doesn't really matter as long as it suits the business model.

By targeting specific arenas and opportunities.

By creating a competitive atmosphere for employees.

By doing things that are not your primary focus.

The broad approaches a small business will use to accomplish its mission.

Resources that combine to allow the firm to do the things better than its competitors.

Things you are able to do through special skills

Being able to change the direction of a business

Financial gains garnered from an asset or capability

An advantage that others cannot immediately copy

Renting out money from a bank

A brief statement that summarizes where the firm will compete

High Cost, Differentiation, Loose Focus

High Cost, Simplicity, Focus

Low Cost, Differentiation, Focus

Low Cost, Simplicity, Loose Focus

Can you charge more to generate more profit?

Is it durable to the customer?

Does it cost a lot to make?

Is it branded?

Be developed by all employees and owners.

Evaluate how to take down business competitors.

Use financial markets to determine employee wages.

Layout specific resources that will be used.