23405847
Description
Flashcards by Sophia Lynch, updated more than 1 year ago
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Created by Sophia Lynch
over 5 years ago
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| Question | Answer |
| Digital technology makes what easier? (3) | 1. Production 2. Distribution 3. Product Maintenance |
| What is the 'Network Effect'? | A product becomes more valuable when it works in a network. E.g. Facebook is valuable because many people use it so lots of resources |
| What are three pressures for growth in a 'globalised market'? Digital Company | 1. Ease of production, distribution and service 2. Network effect 3. Economies of scale |
| What are 'stories of unprecedented scale'? | Today there are less companies who share the majority of profit. |
| How might businesses achieve strategic advantage? | |
| What is 'Porter's Generic Strategy'? |
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