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HRMA 3361: Review Paper

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HRMA 3361: Review Paper
1/30/2014

HRMA 3361: Review for Midterm
Chapters 1 through 5

HRMA 3361: Chapter 1
The Concept of Marketing

1

1/30/2014

© Kapoor & Shoemaker

Competitive Advantage
• What is competitive advantage?
▫ The ability of a firm to develop and maintain distinctive competencies that enable it to capture a larger market share and earn higher than average profits

© Kapoor & Shoemaker

Competitive Advantage (cont.)
• What are some distinctive competencies?
▫
▫
▫
▫
▫
▫
▫
▫

Management knowledge
Culture
Location
Access to resources
Exceptional employees
Special patents
Access to capital
Brand name

2

1/30/2014

© Kapoor & Shoemaker

Competitive Advantage (cont.)
• Building blocks of Competitive Advantage:
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