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Essay / Research Paper Abstract
This 21 page paper considers different influences on sustainable competitive advantages gained as a result of knowledge acquisitions through international joint ventures. Concepts discussed include the way competitive advantages are gained, tools used to help with strategy decision making, as well as influences such as risk, culture and non rational factors. The bibliography cites 14 sources.
Page Count:
21 pages (~225 words per page)
File: TS14_TEjvknow.rtf
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Unformatted sample text from the term paper:
There are a number of different ways in which a firm can gain a competitive advantage and considering these and the way that knowledge may help it is possible to
look at issues such as decision making, risk management and uncertainty, culture and no rational issues that may impact on the strategy process. 2. Strategy Decision Making
To consider strategies the first consideration should be what generic strategies are viable. Michael Porter has considered the way in which firms compete, and
defined two types of competitive advantage. These are cost advantage and differentiation. These are two different ways a competitor may get the edge on its rivals. For example, if there
are two products which are very similar, neither has the advantage, but if one looks better, or has extra features, it may have an advantage just as if one costs
a company less to produce, the company will have an advantage afforded by superior profits. To compete in the long term Porter has argued that there should be a source
of competitive advantage, however, that the two advantages of cost and differentiation are not compatible, and will create consumer confusion. Others, such as Asker, argued that the two may be
compatible (Thompson, 2007). To understand what is meant by each of these strategies the definition need to be considered with consideration given
to how these interact with the value chain and the way that may interact with potential knowledge acquisitions and the use of joint ventures.
The development of a competitive advantage is to increase the profit level. This is undertaken by satisfying customer needs. Profit may be created by supplying a product
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