A1: Experiential Learning Project: Apply the Design Thinking Approach to the creation of a new service and prepare a presentation of the entire process. The presentation should include all the following major steps of Design Thinking Approach: a) Understand. Referring to available sources (own experience, outside experts …) research the status quo on the concept you would like to develop b) Observe: conduct an ethnographic research by firsthand observation of potential users c) Ideate: create as many ideas as possible (use techniques as brainstorming). Select the most promising idea d) Prototype: translate the idea into a simple representation of the app e) Test: the model with target users. Interact with them. Observe their reactions and behavior and collect feed-backs to refine the concept f) The work should also include the marketing plan of the new service. Outcome requirements: The slide/visual presentation (format can be selected by the team) will contain the steps in the agenda mentioned above and it will present the service concept. A visual representation of the service is mandatory. The Experiential Learning Project will be scored across four (4) attributes based on: a) Applying the Design Thinking Model. For this first score, the instructor will assess the extent to which students are able to apply the model into a simulated-real life situation b) Transforming observations and data into usable information. For this second score, the instructor will evaluate the extent to which students were able to organize information collected on field analysis in a presentable fashion (i.e., table, figures, videos …) c) Creativity: For the third score, the instructor will assess the extent to which students are able to apply creativity in a new service development and into the presentation itself d) Original Results: For the fourth score, the instructor will assess the extent to which students are able to apply the innovation drivers to their project **********EXAMPLE************ This class was maybe the most troublesome of some other class I have taken at TUI. Be that as it may, I can say I have left with a superior comprehension of Principles of Accounting. The inside and out readings of how to comprehend organizations money related wellbeing was exceptionally enlightening, yet for the present minute isn't important to what I do. An idea that was precious to me was opportunity costs. They comprise of decisions that make substitute occasions inside people. For myself being a dad of three, officer, and understudy, I in some cases feel that I am out of luck, yet l still figure out how to get past this voyage called life. Deciding to plan something that is going for require penances is a lot of merited, and can have an advantageous effect whenever finished. The SLP for Module 3 was intriguing on the grounds that as customers, we investigate the "four P's" constantly while shopping. Being from a little Pacific island, regardless we use ...

1. A1: Experiential Learning Project:
Apply the Design Thinking Approach to the creation of a new
service and prepare a presentation of the entire process.
The presentation should include all the following major steps of
Design Thinking Approach:
a) Understand. Referring to available sources (own experience,
outside experts …) research the status quo on
the concept you would like to develop
b) Observe: conduct an ethnographic research by firsthand
observation of potential users
c) Ideate: create as many ideas as possible (use techniques as
brainstorming). Select the most promising idea
d) Prototype: translate the idea into a simple representation of
the app
e) Test: the model with target users. Interact with them.
Observe their reactions and behavior and collect
feed-backs to refine the concept
f) The work should also include the marketing plan of the new
service.
Outcome requirements:
The slide/visual presentation (format can be selected by the
team) will contain the steps in the agenda
mentioned above and it will present the service concept. A
visual representation of the service is mandatory.
The Experiential Learning Project will be scored across four (4)
attributes based on:
a) Applying the Design Thinking Model. For this first score, the
instructor will assess the extent to which
students are able to apply the model into a simulated-real life
situation
b) Transforming observations and data into usable information.
For this second score, the instructor will
evaluate the extent to which students were able to organize

2. information collected on field analysis in a
presentable fashion (i.e., table, figures, videos …)
c) Creativity: For the third score, the instructor will assess the
extent to which students are able to apply
creativity in a new service development and into the
presentation itself
d) Original Results: For the fourth score, the instructor will
assess the extent to which students are able to
apply the innovation drivers to their project
**********EXAMPLE************
This class was maybe the most troublesome of some other class
I have taken at TUI. Be that as it may, I can say I have left with
a superior comprehension of Principles of Accounting. The
inside and out readings of how to comprehend organizations
money related wellbeing was exceptionally enlightening, yet for
the present minute isn't important to what I do.
An idea that was precious to me was opportunity costs. They
comprise of decisions that make substitute occasions inside
people. For myself being a dad of three, officer, and
understudy, I in some cases feel that I am out of luck, yet l still
figure out how to get past this voyage called life. Deciding to
plan something that is going for require penances is a lot of
merited, and can have an advantageous effect whenever
finished.
The SLP for Module 3 was intriguing on the grounds that as
customers, we investigate the "four P's" constantly while
shopping. Being from a little Pacific island, regardless we use
statistical surveying and cause the best with what we to do have
over here, not at all like in the states where there are more

3. alternatives and better arrangements. What made the venture
progressively pleasant was the way that I utilize both those
shippers routinely, so assembling the slides was genuinely fast
and simple.
The most testing piece of the course was Module 3's case task.
The subject was an extreme one to pursue, while hitting the
prerequisites and attempting to remain on track. I have never
truly been enthusiastic about estimating, advertise examination,
or anything like what was asked in the last module. I am even
more a headhunter and I truly appreciate building groups and
using various abilities. Cost and benefit proportions, and the
capacity to peruse and examine them unquestionably passed me
by. Indeed, even in my activity, there are particular staff that
explicitly cost and evaluating for our acquisitions. I simply deal
with the heads on the real agreement side of the house. I
benefited remove pointers from this course, since now I know
there are a bigger number of sides to the Human Resources
world than simply enlisting and exploring initiates. You must
have the option to realize how an organization works within
also.
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their
meanings. If you are learning terminology or need to clarify a
vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017)
Accounting Terminology Guide - Over 1,000 Accounting and
Finance Terms. Retrieved
from: http://www.nysscpa.org/professional-
resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved
from http://articles.bplans.com/business-term-glossary/
The Annual Report

4. The annual report is the way a firm summarizes its performance
over the past year and where it sets a vision for the future.
Publicly held companies (traded on the stock exchange) must
prepare annual reports, and annual reports are usually public
documents. Investors and the general public use annual reports
as sources of information about the financial health of a
company. We will be learning about reading annual reports to
learn general accounting principles in the context of learning
about a company and the industry in which it operates.
Although we will not discuss all sections of an annual report,
we will touch on the sections that have the most relevance to
providing the HRM professional with the most helpful insights
into the operations of the firm.
Front matter
This is largely text material that sets the stage for the
quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual
report and is a statement by the chairman of the board. The
letter sets the stage for how the firm’s management wants you
to view the report and the previous year’s performance, and so
in this sense sets the “strategic intent” of the report. A careful
reading of the letter can give context to the numbers that follow
by giving you clues of what to look for in terms of goals met –
or problems that prevented goal attainment. The firm may be on
the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line.
Typically, it also contains descriptions of key departments or
groups and the work they do. By reading this section, you can
deduce what products or services are most important to the firm
and which divisions are seen as most critical to its success. This
section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably
seems superfluous (like the terms and conditions

5. acknowledgment on software updates. You know you don’t read
those!). However, you should know that by law, a publicly
traded firm needs to be independently audited every year. This
is to protect the investor, and the auditors will state whether or
not the data the company presents is accurate and if they have
sufficient controls in place to prevent fraud. Auditors are
required to point out any uncertainties or qualifications
regarding the preparation of financial statements. The majority
of auditors’ opinions are positive, but anything less than a
positive report should alert the reader that there may be a major
problem and the data may not be reliable.
The Financial Statements
Financial statements are the heart of the annual report and
present the performance data for the past year. Look for trends
or patterns in profitability, growth, and dividend performance.
The Income Statement
The first report you are likely to come across is the income
statement. Simply stated, the income statement lets you know if
the business made any money. This report summarizes all sales
activities, costs of making or acquiring the goods or services
sold, and other expenses involved in running the business.
Income statements capture performance over time, such as a
three-month period for a “monthly” statement, three quarters for
a “quarterly” statement, and three years for a “yearly”
statement. This allows you to see trends in performance over a
period of time.
Key data displayed in the income statement:
· Sales or Revenue: The total amount of money received by the
company for goods sold or services provided during a certain
time period.
· Cost of Goods Sold (COGS): How much money was spent
producing the products/services. (Sometimes called “Cost of
Revenue.”)
· Gross Profit: How much money was earned when subtracting
COGS from the total revenue. (Also called “Gross Margin.”)
· Operating Profit: How much was made after subtracting

6. money spent on running the business itself (e.g., salaries,
facilities, advertising, R&D, administrative costs, etc.). This is
also called “EBIT or EBITDA”: Earnings before interest, taxes,
depreciation, and amortization.
· Interest, Taxes, Depreciation, Amortization Expense: Self-
explanatory.
· Net Income or Loss: This number tells you if the company
made or lost money. It is calculated by subtracting all expenses
from Gross Profit.
Here is a simple example of an income statement (Imagine you
or a young person you know are running a lemonade stand):
The income statement answers the following questions:
1. Is the company making or losing money?
2. What are the trends? Are the company profits increasing or
decreasing over time? Is this due to changes in sales, expenses,
or both?
3. Is the change in profits due to changes in ordinary operating
expenses, or are they due to one-time or extraordinary events
unlikely to recur?
The following video offers a good overview of the income
statement, using Walmart as the example:
The Finance Storyteller (2017) How to analyze an income
statement. Retrieved from
https://www.youtube.com/watch?v=jovKWaUxdmU
For a written overview of the income statement read:
Fields, E. (2016) Chapter Two – The Income Statement. The
Essentials of Finance and Accounting for Nonfinancial
Managers, Third Edition. AMACOM. Available in the Skillsoft
database in the Trident University Library.
Additionally, the following reading offers an example of an
income statement and suggests how to go about reading and
interpreting one:
Liston, H. (2015). How to read and analyze an income

7. statement. Bplans. Retrieved from
http://articles.bplans.com/how-to-read-an-income-statement/
The Balance Sheet
The balance sheet looks more complicated than the income
statement, but its premise is simple. The balance sheet is a
snapshot of what the business owns and what it owes at a
specific point in time. The difference between what a firm owns
and what it owes is called equity. Just as the company wants to
increase profit, it also wants to increase equity. Profits and
equity are related. If the firm gains profit in any period, it gains
in equity. If it loses money, the equity will decrease.
The balance sheet reports the following:
· Assets: These are the items of value that are owned by the
company.
· Liabilities: These are the amounts the business owes other
people, other businesses, or the government.
· Capital: This is the money that the owners and/or shareholders
have invested or reinvested in the business. (Also called
owner’s equity.)
The relationship between these elements is simple. The assets
must equal the sum of the liabilities plus the owner’s equity.
They must balance. This relationship is called the Accounting
Equation.
Here is a video that explains the accounting equation in easy-to-
follow terms:
AccountingWITT. (2010). The accounting equation –
Conceptual analogy. [Video file]. Retrieved from
https://www.youtube.com/watch?v=YK4FJ7QrFY0
Note that balance sheets come in two basic formats. The
traditional format shows assets on the left side of a table and
liabilities and owner’s equity on the right. This is the format
you will see in the reading. The other format lists the assets at
the top of the table, the liabilities in the middle and the owner’s
equity at the bottom. Here is a really simple balance sheet to
illustrate. Again, imagine that you or a young friend are running

8. a lemonade stand. The balance sheet might look like this:
Notice how the cash and inventory of supplies (assets) equals
the amount owed on the Visa bill to buy supplies, plus the
money reinvested from previous sales and cash kicked in by
Mom and Dad as seed money (Liabilities + Owner’s Equity).
In a business, the balance sheet is much more complex. Assets
can include not only Cash and Inventory, but also Accounts
Receivables, Property, Plant and Equipment, and Intangible
Assets. Liabilities can be classified as current (Accounts
Payable or Taxes Payable) or Long-term debt.
The balance sheet can help answer the following questions:
1. Does the company have sufficient assets to meet its
liabilities? In other words, is the firm able to pay its bills over
the long term? In financial terms, is it solvent?
2. Does the firm have sufficient cash to pay immediate bills
such as payroll? Accountants would call this liquidity, or the
ability to quickly turn assets into cash.
3. Has the owner’s equity been increasing over time? (This
requires comparing balance sheets over a specified time period.)
4. What is the mix of assets? For example, too much cash may
signal a lack of investment in assets that will help the business
grow. Too many assets in speculative ventures can also be a
reason for concern. Another red flag might be that there were
assets on the balance sheet that appeared to have no relationship
to the business.
5. Is the mix of financing healthy? There should be some debt,
but too little or too much can be a cause for concern. Odd
categories of capital (excessive personal loans, convertible
subordinate notes) may warrant further investigation.
The following video offers an introduction to the balance sheet:
Tutor2u. (2017) Introduction to the Balance Sheet. Retrieved
from https://www.youtube.com/watch?v=Syu2sKv05rQ
For a written introduction to balance sheets:

9. Fields, E. (2016) Chapter One - The Balance Sheet. The
Essentials of Finance and Accounting for Nonfinancial
Managers, Third Edition. AMACOM. Available in the Skillsoft
data in the Trident University Library.
Additionally, the following reading goes over these concepts in
a little more detail and gives some examples of how when one
side of the balance sheet changes, the other must change as well
to compensate.
Youderian, A. (2013). How to read a Balance Sheet (The non-
boring version). Retrieved from
http://www.ecommercefuel.com/how-to-read-a-balance-sheet/
The Statement of Cash Flows
Along with the balance sheet and income statement, the
Statement of Cash Flows is a required financial report. It shows
where the cash is coming from and how it is being spent. It is
different from the income statement and balance sheet in that
this report only accounts for current cash on hand – not future
income from sales on credit. Thus, cash is not the same as “net
income.”
View this video for an overview of the cash flow statement:
Small business basics: How to understand a cash flow
statement. (2009). eHow. Retrieved from
https://www.youtube.com/watch?v=4xfcNNAMcNk
Sources of Cash
There are three ways that cash can enter and leave a company:
Operations. This measures the cash in and cash out from sales
of products or services. Included are actual cash, accounts
receivable, depreciation, inventory, and accounts payable.
Investing. This is normally a “cash out” item as the firm invests
in new equipment, facilities, or other assets. However, it can be
a “cash in” item if the firm sells or divests assets.
Financing. “Cash in” items in this category might include loans
or other changes in debt. “Cash out” might be when the
company pays dividends on stock or interest on bonds.
The cash flow statement can help answer the following

10. questions:
1. What is the health of the business? A consistently healthy
operating cash flow indicates that the company is probably
being successful at turning its profits into cash. What does this
mean to HR? If HR is responsible for staffing the accounting
department, a positive value for cash from operations would
indicate that the company is doing a good job of collecting on
its accounts receivable. It would also indicate that production
and sales are also going well. In addition, cash from operations
indicates whether or not the firm can finance growth out of its
own operations (internally), rather than having to go outside
and borrow from banks or sell stock/bonds to raise money.
2. Does the company anticipate growth? The report also shows
how much money the company is spending on the future. If the
company is not investing in new equipment or facilities, it could
be treating the business as a “cash cow” and milking it for
current cash, but not investing in future growth. Is the company
making increasing investments? This could indicate that the
firm expects those investments to pay off in increased sales. On
the other hand, is the company selling off assets to raise the
cash to fund losses in operations? The answers to these
questions has implications for HRM because different decisions
would be made about recruiting and training new staff than if
the company was a cash cow, gearing up for high growth, or
struggling to turn operations around.
3. How dependent is the firm on outside financing? Does it have
to borrow heavily just to stay alive? Is the company borrowing
more than it is paying off? Are they raising money by selling
new stock to investors, or are they using cash to buy back their
own stock (so each shareholder owns a larger piece of the
company)?
The following reading gives an overview of the cash flow
statement:
Fields, E. (2016) Chapter Three - The Statement of Cash
Flows". The Essentials of Finance and Accounting for
Nonfinancial Managers, Third Edition. AMACOM. Available in

11. the Skillsoft database in the Trident University Library.
The following article is a blog post on how to analyze cash flow
statements from an investor’s point of view. However, I think it
is helpful for our purposes because you won’t get bogged down
in determining what numbers go where, but rather in how to
read the “story” that the cash flow statement is telling you:
Jun, J. (2008). How to master analyzing the cash flow
statement. Old School Value. Retrieved
from http://www.oldschoolvalue.com/blog/valuation-
methods/analysing-financial-statements-and-aerogrow/
Footnotes to the Financial Statements
The final part of the annual report that you should know about
are the footnotes. These notes contain important information
concerning specific methodologies used to prepare the financial
statements that might make the statements themselves too
crowded and difficult to read. Footnotes may be of particular
interest to HR professionals w hen they contain information
about pensions or compensation plans.
Putting it all together
Here is the “so what?” question. Now that you know what the
main financial statements are and what information they contain
– SO WHAT? What does one have to do with the other? How do
they fit together?
In order to make sense out of what seems to be a jumble of
numbers, go back to the fundamental accounting equation:
Assets = Liabilities + Owners Equity. Always remember this
relationship. This ties together the three financial statements.
1. The statement of cash flows tracks how changes in the firm’s
cash balance are the result of changes in assets, liabilities, and
owner’s equity.
2. The balance sheet shows the changes in assets and liabilities.
3. The income statement demonstrates changes in owner’s
equity resulting from changes in net income.
Thus, any changes in one part of the firm’s accounting picture
can be explained by changes to the other parts. This is the
essence of accounting.

12. Analyzing the Financial Health of the Firm: Ratios
While learning to read financial statements is one of the best
ways to learn accounting principles, the best way to assess the
financial health of a firm is by comparing key financial ratios.
These ratios help us attain a deeper understanding of the
company’s performance, particularly when viewed in terms of
changes over time or in relation to other firms in the same
industry. There are many ratios, some of which are specialized
for a type of organization, or function within an organization.
Because this is a course designed to acquaint non-MBAs with
financial ratios, we will review a set of ratios that are most
commonly used by management in the majority of
organizations. These ratios fall into four categories measuring
different areas of strategic interest:
Profitability ratios
Just looking at net income does not tell you very much about
how well the company is doing at generating a profit given the
level of sales or amount of assets owned by the firm. The higher
the profitability ratio, the better job the company is doing at
generating a profit from their assets. Examples of profitability
ratios include Profit Margin and any of the “return” ratios (e.g.,
Return on Assets or ROA; Return on Equity or ROE). The
following site explains in plain language some of the key
profitability ratios you will run across, how they are calculated,
and how they are used.
Profitability Ratios. (2015). My Accounting Course. Retrieved
from http://www.myaccountingcourse.com/financial-
ratios/profitability-ratios
Liquidity Ratios
It is essential for an organization to know if it can pay its bills
comfortably. Liquidity ratios let you know how much the
company has on hand that can be quickly converted to cash.
From this same plain-language site, here is some reference
material on liquidity ratios you are likely to see and need to
understand:
Liquidity Ratios. (2015). My Accounting Course. Retrieved

13. from http://www.myaccountingcourse.com/financial-
ratios/liquidity-ratios
Leverage Ratios
These ratios tell you how heavily the firm is burdened by debt
and how much the company is being financed by investors or
shareholders. The higher the amount of debt, the higher the
leverage. In general, highly leveraged firms are considered to be
more risky because more of the income generated by the
business must be used to simply pay off the debt rather than
support operations or increase owner’s equity.
Financial Leverage Ratios. (2019). My Accounting Course.
Retrieved from
http://www.myaccountingcourse.com/financial-ratios/financial-
leverage-ratios
Efficiency ratios
As its name would suggest, this ratio measures whether or not
the firm is making the most out of its assets. If a firm can speed
up its collection of receivables or sell its inventory faster, it
increases its efficiency, positively affects its cash position, and
thus its profitability. Efficiency ratios vary widely by industry.
Walmart makes its money by quickly turning over inventory at
rock-bottom prices. The profit margin on a single item is so thin
that any extra money spent on warehousing or storing products
on the shelf cuts into profit (high turnover ratio). On the other
hand, Jaguars sell for a high price that includes the probability
that the cars will sit on the lot for a while before the right buyer
comes in (low turnover ratio).
Efficiency Ratios (2019). My Accounting Course. Retrieved
from http://www.myaccountingcourse.com/financial-
ratios/efficiency-ratios
Specialized Ratios
Not all industries pay the same amount of attention to the same
ratios. Retailers pay a lot of attention to inventory; small
businesses and start-ups may keep a close eye on the current
ratio to make sure they have enough cash to pay bills. Similarly,
different parts of a company may place special attention on

14. specialized ratios. Here are some metrics that are particularly
applicable to human resource managers:
· Revenue per employee
· Compensation as a percent of revenue
· Benefits cost as a percent of compensation
· Cost per hire
· Employee turnover
· HR department expense as a percent of total expenses
You will be delving into Human Resource metrics further in
later classes in the MSHRM curriculum, but here is an excellent
overview of the topic. The video at the end raises some
controversial views as to what HR measurements are valuable to
the firm from a strategic viewpoint.
Evans, M.H. (2015). Metrics for Human Resource Management.
Retrieved from
http://www.exinfm.com/board/metrics_for_hr_management.htm
Videos
AccountingWITT. (2010). The accounting equation –
Conceptual analogy. [Video file]. Retrieved
from https://www.youtube.com/watch?v=YK4FJ7QrFY0. Standa
rd YouTube License.
Harris, M. (2018, May 22). Liquidity Ratios. Retrieved from
https://youtu.be/D48_G40JACI. Standard YouTube License.
Profitability Ratios. (2015). Corporate Finance Institute.
Retrieved from https://youtu.be/hgRLUdWVl3Q. Standard
YouTube License.
Quantopian. (2019, August 1). How to read a Balance Sheet.
Retrieved from https://youtu.be/q4HOhxCS1u8. Standard
YouTube License.
Quantopian. (2019, July 25). How to read an Income Statement.
Retrieved from https://youtu.be/bvjRacnAz9I. Standard
YouTube License.
The Finance Storyteller (2017) How to analyze an income
statement. Retrieved from
https://www.youtube.com/watch?v=jovKWaUxdmU. Standard
YouTube License.

15. Towns, P. (2016, January 5). How do you read a cash flow
statement? Retrieved from https://youtu.be/X17bUV-EfIM.
Standard YouTube License.
Tutor2u. (2017). Introduction to the Balance Sheet. Retrieved
from
https://www.youtube.com/watch?v=Syu2sKv05rQ. Standard
YouTube License.
Required Reading
Efficiency Ratios. (2015). My Accounting Course. Retrieved
from http://www.myaccountingcourse.com/financial-
ratios/efficiency-ratios
Fields, E. (2016). The essentials of finance and accounting for
nonfinancial managers (3rd ed.). New York, NY: AMACOM.
Available in the Skillsoft database in the Trident Online
Library.
Marler, J. H., & Boudreau, J. W. (2017). An evidence-based
review of HR Analytics. International Journal of Human
Resource Management, 28(1), 3–26. Available in the Trident
Online Library.
Omondi-Ochieng, P. (2018). US table tennis association: A case
study of financial performance using effectiveness indicators
and efficiency ratios. Managerial Finance, 44(2), 189-206.
Available in the Trident Online Library.
Synaptics 2017 Annual Report. (2018). Retrieved from
http://www.annualreports.com/Company/synaptics-inc
Optional Reading
Financial Leverage Ratios. (2015). My Accounting Course.
Retrieved from http://www.myaccountingcourse.com/financial-
ratios/financial-leverage-ratios
Grigorescu, A., & Chiper, A. (2016). The importance of human
capital in the strategic development of an organization. Studies
and Scientific Researches: Economics Edition. University of
Bacău, Romania. DOI 10.29358/sceco.v0i0.344. CC BY-SA
Module 3 - Background

16. PRINCIPLES OF MARKETING
All readings are required unless noted as “Optional” or “Not
Required.”
Introduction
In practice, Marketers use various models to describe the
different marketing functions. Some of the more popular models
are the 7 step model, STP (segmentation, targeting,
positioning), or the 4 C's (Consumer Behavior, Company
Analysis, Competitor Analysis, and Context). Each has
advantages and drawbacks regarding comprehensiveness.
Readings describing each of these models are provided in the
Optional Reading list at the end of this section. For this module,
however, we will use a model that integrates and abridges these
other models.
Consumers, Markets, and Competition
Though many people think of marketing as consisting of sales
and advertising, one of the most important marketing functions
begins even before the final product or service has been
developed. In this early stage, the organization conducts
research to determine customer needs, how the market is
structured, and the number and nature of competitors addressing
that need. As you will see below, these three topics are
intertwined.
Consumers
The purpose of marketing is to discover how to provide value to
consumers while earning a profit. Marketers must understand
the entire consumer base: the customer served by the
organization, the customer currently served by competitors, and
customers who may be served in the future. One way marketers
do this is by analyzing buyer behavior (i.e., how consumers get
information and how consumers make buying decisions).
Consumer behaviors are influenced by a number of
considerations such as psychological factors, convenience,
competing choices, and cultural preferences. Read the following
book chapter on consumer behavior.
Tanner, J., and Raymond, M. (2012). Marketing Principles (v.

17. 2.0). Ch. 3: Consumer behavior: How people make buying
decisions. Sections 3.1-3.6. Retrieved
from https://2012books.lardbucket.org/pdfs/marketing-
principles-v2.0.pdf
Markets
Any business needs to know the characteristics of the markets
in which the firm operates. Understanding the customer and the
market requires extensive and sophisticated research efforts to
gather and analyze social and economic trends, human decision-
making, and potential competitors. The goal of market research
is to enable the firm to identify opportunities and threats in the
business environment as well as the organization’s capacity to
exploit its strengths and shore up its weaknesses.
Market research can be either primary (collected directly from
the source), or secondary (collected/published by someone
outside the organization). Some examples of secondary data
include:
· US Census
· www.Data,gov
· Internal data (such as customer cards at grocery stores that
collect data on buying patterns)
· Nielsen or Arbitron ratings
· Published articles and reports
· Blog posts
· Social media
The following chart illustrates the differences between primary
and secondary market research:
Source: http://www.mymarketresearchmethods.com/primary-
secondary-market-research-difference/
Competition
Competition is either direct or indirect. Direct competitors, such
as Coke and Pepsi, offer similar products or services. Indirect
competitors offer similar functions or meet similar needs, but
with different products, such as hardwood flooring vs. granite

18. countertops in a re-model. These are different products, but they
compete for the same re-modeling dollar. As we saw in Module
1, when there are substitute products, elasticity of demand is
increased. This creates a need for marketing to differentiate the
product from that of the competition.
Also relevant to understanding the competitive environment is
to know the market share of the industry players. This is
initially determined through market research. One important
way of competing is to formulate a strategy to increase market
share, because when competitors have similar products or
services, larger market share generally equates to larger profits.
Some common approaches to increasing market share are:
1. Lower production costs
2. Spend more on research
3. Spend more on equipment
4. Spend more on advertising
In analyzing the competition, the business must have a good
understanding of itself. What are its own capacities and
weaknesses? It may have the capacity to deliver the product –
but at what level? Local, regional, national, international? Mass
merchandising or boutique market niche? These decisions may
be governed by the firm’s capacity to finance its activities. The
best way to analyze the competitive situation and the firm’s
capacity to respond to internal and environmental challenges is
to conduct a SWOT analysis (Strengths, Weaknesses,
Opportunities, and Threats). For an example of a SWOT
analysis of Costco, review this report in the Trident Online
Library:
GuruFocus.com: SWOT analysis: Costco wholesale corporation.
(2015). Chatham: Newstex. Available in the Trident Online
Library.
Market Segmentation, Targets, and Positioning
Once the firm has gained a broad understanding of its customers
and competitive environment, it is time to make some more
specific decisions about the services or products it offers. The
first step is to divide the population of potential customers into

19. homogeneous subgroups of consumers with similar needs and
desires. This is called segmentation. The second step is to select
from among these subgroups, which one(s) the firm will serve
best. This is called the target market. Finally, the marketers
determine the approach they will take in emphasizing the value
their product/service had for the target group. This is called
positioning.
Segmentation
Many firms differentiate among their customers and offer
different products or level of service depending on customer
type. This allows the firm to direct marketing efforts effectively
and efficiently to the “right” people to maximize sales and
profit. For example, banks may offer their “preferred
customers” (large depositors or borrowers) free checking, better
interest rates, complementary safety deposit boxes, personal
bankers, etc. These perks are geared toward attracting and
keeping their most profitable customers. Other firms do not
differentiate and offer everyone the same thing. Though
segmentation may initially be more expensive than mass-
marketing, firms that segment are more profitable than those
that do not. The most common categories of segmentation are:
· Demographic (age, gender, income)
· Geographic (SMSA, census)
· Psychographic (lifestyle, personality)
· Behavioral (usage, loyalty, occasion, price consciousness)
The following video offers an excellent overview of these topic
areas:
Tutor2u (2016) Market Segmentation, Targeting and Position.
Retrieved from
https://www.youtube.com/watch?v=0srjdRDh99Y
Targeting
Once the customer base has been segmented by need and
characteristics, the firm needs to decide which group it can
pursue most successfully. Considerations include which
group(s) the firm can 1) best satisfy, 2) fit best with the firm’s

20. strategy, and 3) be most profitable in the future.
Many things must be considered. The fastest-growing segment
may attract more competitors and thus be more expensive to
capture and retain. Segments can also overlap. For example,
business users of internet services also make decisions about
ISP's for personal use. Another consideration is that a product
may appeal to a non-targeted segment, thus decreasing its
appeal to the targeted segment. For example, when XYZ product
becomes the product of choice of “gray hairs,” it may no longer
appeal to the 20-something demographic who were the desired
customers (think Facebook). This may require the firm to
change its strategy. Read about some of the disadvantages of
target marketing in this short article from the Houston
Chronicle:
Suttle, R. (2019). The disadvantages of target marketing. Small
Business, Chron. Retrieved from
http://smallbusiness.chron.com/disadvantages-target-marketing-
36131.html
Positioning
When the target market has been selected, the firm has a very
important decision to make. How will it position its product or
service in relationship to the other offerings in the market? This
is the essence of marketing strategy: Positioning determines
how the target will view the product or even the firm. Think of
the different images that come to mind when you think about
Target vs. Saks Fifth Avenue. Do you immediately think of
price and quality? Now consider Target vs. Walmart. Both offer
low prices, but Target emphasizes that the customer “gets more”
while paying less. They are positioning themselves for the more
discerning customer by appearing to offer better quality along
with value pricing.
Positioning maps are used by marketers to understand customer
perceptions of a marketplace and the relative positions of
different firms, products, and brands.
The following study guide illustrates how to construct a
positioning or perceptual map:

21. A Step-by-Step Guide to Constructing a Perceptual Map. (n.d)
Retrieved from
http://www.segmentationstudyguide.com/understanding-
perceptual-maps/a-step-by-step-guide-to-constructing-a-
perceptual-map/
The Marketing Mix
While positioning describes the firm’s strategic approach to
marketing a product or brand, the 4 P's are direct tactical
decisions regarding delivering customer value. The 4 P's are as
follows:
Product
What fundamental need does the purchase satisfy? “Product” is
more than the actual product; it can involve meeting needs for
status, convenience, reliability, ability to customize, etc. Thus,
packaging, warrantees, design, options, reputation, or customer
service may be just as important as the product itself. Branding
is an integral part of product management. Think of BMW or
Apple. What comes into your mind when you hear these names?
Our imagination translates these brands into descriptive and
evaluative phrases having to do with the qualities or attributes
of products carrying these brands. Similarly, Target, Pepsi,
McDonald's, your favorite restaurant, and even yourself can be
said to "have a brand," (i.e., be identified by certain qualities
that mean something to those who perceive these brands).
Price
To a marketer, price is more than how much the customer pays
at purchase – it also involves the time the consumer spends in
making the decision to buy, and the opportunity cost of
choosing one product over the other available choices. The
price a firm sets for a product is called pricing strategy.
Choosing the right price is a complex decision that needs to
take a number of factors into account, including the
characteristics of your target market and the overall strategy of
the firm to gain market share, given the competitive
environment. Options include skim pricing and penetration
pricing. To review some of the factors involved with pricing

22. strategies and gain insight into how a firm could decide which
might be appropriate, read:
Woodruff, J. (2019) Different types of pricing strategy. Chron
Retrieved from https://smallbusiness.chron.com/different-types-
pricing-strategy-4688.html
Promotion
No matter how good a product or service is – or how much
value it provides to the target market - it will not sell if people
do not know about it. This is where advertising and selling
come in. There are many approaches and tools marketers can
use in promotion. The decision depends on the firm’s strategy,
the budget, and availability. TV reaches the most people, but it
is very expensive. Personal selling by employing a sales force
can also be expensive, but the cost can be mitigated through
telemarketing and/or digital marketing online.
Coupons, discounts, and rewards programs are effective tools
and can be applied selectively at critical times during the year.
Some companies price the product very low to entice sales – but
the replacement parts may be very expensive. For example,
consider cheap razors with expensive razor blades or free
cellphones with expensive data plans.
There are basically two kinds of promotion strategies: the push
and pull strategies. Each has advantages and disadvantages. For
an explanation of the differences between the two approaches,
take a couple of minutes to read this short article from the
online Houston Chronicle:
Robertson, T. (2019). Difference between push & pull
marketing. Small Business, Chron. Retrieved
from http://smallbusiness.chron.com/difference-between-push-
pull-marketing-31806.html
Place
Few companies design a product, manufacture it, and sell it
directly to the consumer. Most rely on distributors to transport
and independently owned stores to actually sell the product.
This is termed the distribution channel. Wholesalers and
retailers are critical to the marketing function as they comprise

23. major parts of the distribution channel. Firms prefer that
members of the distribution channel act as partners. But when
distributors become large and powerful, an imbalance can occur,
drastically affecting the marketing strategy of the firm.
Distributors can add value in multiple ways. You can buy an
unassembled bicycle on the internet at a discount, or buy the
same bike from a specialty shop that will assemble, customize,
and service your purchase for a higher price. Some distributors
also provide logistics management to ensure the timely delivery
of the products to the consumers at the low costs. With the
popularity of Internet and e-commerce, more and more
companies deliver their products or services directly to the end
consumers, using direct distribution channels.
For more information on distribution channels, refer to the
following optional resources.
Fontelera, J. (2019). Distribution Channels and Marketing
Analysis. Retrieved
from http://smallbusiness.chron.com/distribution-channels-
marketing-analysis-60985.html
Blunt, L. (2019) Types of Marketing Channels. Retrieved
from http://smallbusiness.chron.com/types-marketing-channels-
21627.html
Quain, S. (2018). How Does Logistics Differ From
Distribution? Retrieved from
http://smallbusiness.chron.com/logistics-differ-distribution-
77542.html
For a quick review of the 4 P's of the Marketing Mix, view the
following video:
Paxton/Patterson (2017) The 4 Ps of the Marketing Mix.
Retrieved
from https://www.youtube.com/watch?v=Mco8vBAwOmA
Summary
Product, price, promotion, and place strategies are highly
interdependent. Mass distribution generally is coupled with low
price, whereas boutique or limited distribution is generally

24. associated with higher product and advertising prices.
Perhaps the area where these interdependencies become most
clear is when considering product life cycle. It is in the firm’s
best interest to sell the greatest number of products as long as
possible. To do this, the firm must capture the greatest market
share it can for as long as it can. Product, price, place, and
promotion must change over time through product introduction,
growth, maturity, and decline. For a summary on how the
marketing mix should change according to the product life
cycle, read:
Claessens, M. (2015) Product Life Cycle Stages (PLC) –
Managing the Product Life Cycle. Retrieved
from https://marketing-insider.eu/product-life-cycle-stages/
Finally, for an overview of general marketing topics from the
perspective of a marketeer, review the following optional
chapters:
Popky, L. (2015) Chapter 3. What hasn’t changed: Timeless
Marketing Truths. Marketing Above the Noise: Achieve
Strategic Advantage with Marketing that Matters. Bibliomotion.
Available in the Skillsoft data in the Trident University Library.
Popky, L. (2015) Chapter 4. What has changed: The New
Realities. Marketing Above the Noise: Achieve Strategic
Advantage with Marketing that Matters. Bibliomotion.
Available in the Skillsoft data in the Trident University Library.
Videos
Learnloads. (2014, March 10). What are distribution channels?
Retrieved from https://youtu.be/ALoo4vrKKUw
Marcy Research. (2018, November 8). Perceptual mapping.
Retrieved from https://youtu.be/L9hgJ-4hLYg. Standard
YouTube License.
Marketing 91. Product life cycle. Retrieved
from https://youtu.be/pq3e1b_7uho. Standard YouTube License.
Patel, N. (2019, May 8). Pricing strategies. How to price your
product or services for maximum profit. Retrieved
from https://youtu.be/0NGQLgrHRe4. Standard YouTube
License.

25. Paxton/Patterson. (2017). The 4 Ps of the marketing mix.
Retrieved
from https://www.youtube.com/watch?v=Mco8vBAwOmA. Stan
dard YouTube License.
The audiopedia. (2018). What is perceptuak mapping? Retrieved
from https://youtu.be/CeNpI2ufn44. Standard YouTube License.
Tutor2u (2016) Market Segmentation, Targeting and Position.
Retrieved
from https://www.youtube.com/watch?v=0srjdRDh99Y. Standar
d YouTube License.
Required Reading
A Step-by-Step Guide to Constructing a Perceptual Map. (n.d)
Retrieved from
http://www.segmentationstudyguide.com/understanding-
perceptual-maps/a-step-by-step-guide-to-constructing-a-
perceptual-map/
Kemp, E. A., Borders, A. L., Anaza, N. A., & Johnston, W. J.
(2018). The heart in organizational buying: Marketers'
understanding of emotions and decision-making of buyers. The
Journal of Business & Industrial Marketing, 33(1), 19-28.
Available in the Trident Online Library.
Paxton/Patterson. (2017). The 4 Ps of the marketing mix.
Retrieved
from https://www.youtube.com/watch?v=Mco8vBAwOmA. Stan
dard YouTube License.
Phillips, T. (2017, March 10). Digital marketing strategy: Push
vs pull? The Guardian. Available in the Trident Online Library.
Pricing strategy (2010). NetMBA. Retrieved
from http://www.netmba.com/marketing/pricing/
Suttle, R. (2015). The disadvantages of target marketing. Small
Business, Chron. Retrieved
from http://smallbusiness.chron.com/disadvantages-target-
marketing-36131.html
The product life cycle. (2010). Quick MBA. Retrieved
from http://www.quickmba.com/marketing/product/lifecycle/
Tutor2u (2016) Market Segmentation, Targeting and Position.

26. Retrieved
from https://www.youtube.com/watch?v=0srjdRDh99Y. Standar
d YouTube License.
Vanegas, J. G., Restrepo, J. A., Barros, G. A., & Moreno, G. A.
(2018). Service quality in Medellin hotels using perceptual
maps. Cuadernos de Administración, 34(60). Retrieved from
http://cuadernosdeadministracion.univalle.edu.co/index.php/cua
dernos_de_administracion/article/view/5927. Available in the
Trident Online Library. CC BY-NA.
Optional Reading
Annual Reports & Proxies. (2014) Walmart. Retrieved
from http://stock.walmart.com/investors/financial-
information/annual-reports-and-proxies/default.aspx
Chaffey, D. (2013) Marketing models that have stood the test of
time. Smart Insights. Retrieved
from http://www.smartinsights.com/digital-marketing-
strategy/online-business-revenue-models/marketing-models/
Cohen, H. (2013). 7 step marketing framework. Actionable
Marketing Guide. Retrieved from http://heidicohen.com/7-step-
marketing-framework/
D’Aveni, R.A. (2007). Mapping your competitive position.
Harvard Business Review. Retrieved
from https://hbr.org/2007/11/mapping-your-competitive-
position
Hanlon, A. (2013) How to use Segmentation, Targeting and
Positioning (STP) to develop marketing strategies. Smart
Insights. Retrieved from http://www.smartinsights.com/digital-
marketing-strategy/customer-segmentation-
targeting/segmentation-targeting-positioning-model/
Hanlon, A. (2015) The 4 C’s marketing model. Smart Insights.
Retrieved from http://www.smartinsights.com/marketing-
planning/marketing-models/4cs-marketing-model/
Jorina, F, (n.d.). Distribution Channels and Marketing Analysis.
Retrieved from http://smallbusiness.chron.com/distribution-
channels-marketing-analysis-60985.html
Lanee, B. (n.d.). Types of Marketing Channels. Retrieved

27. from http://smallbusiness.chron.com/types-marketing-channels-
21627.html
Neil, K. (n.d.). How Does Logistics Differ From Distribution?
Retrieved from http://smallbusiness.chron.com/logistics-differ-
distribution-77542.html
Module 4 - Background
PRINCIPLES OF STRATEGY
Strategy is a broad term that refers to how a company competes
in the marketplace. A strategy reflects the firm’s values, its
purpose for existing, and how it will compete. A strategy is not
a detailed plan, but rather serves as a guide for how decisions
should be made. Strategy provides direction.
There are 3 levels of strategy.
Corporate-level strategy. The corporate level answers the
question “What business should we be in?” As an example, a
conglomerate corporation like General Electric that competes in
many industries or businesses – including aviation and financial
services – must carefully consider its corporate strategy.
Business-level strategy. The business level focuses on how the
firm will compete in a given industry. Will it try to crowd out
the competition by offering multiple brands and dominating
grocery store shelf space? Will it offer its products at a cut-rate
price and make its profit on volume rather than margin?
Functional-level strategy. The functional level (e.g., financial
strategy, marketing strategy, human resource strategy) defines
activities and processes that support the firm’s corporate and
business strategies.
Various models have been developed to assist strategic decision
makers in arriving at the right strategy for their organization.
We will review several important ones here:
The BCG Matrix
The Boston Consulting Group (BSG) matrix represents a
portfolio approach to corporate strategic planning. Many of this
popular models’ terms have become part of the everyday

28. language. This approach recognizes that many firms have more
than one product or line of services, and that not all of them
should have the same strategies because each may face different
competitive environments. Thus, a different strategy may be
called for, depending largely on market share and marginal
costs. Thus, a product with high market share and low marginal
costs would generate a large amount of cash high ROI or return
on investment) which could then be “milked” to fund other
products or lines that had higher costs and/or smaller market
share. The BCG matrix characterizes business into four types,
depending on how much cash they generate vs. cash they use:
· Stars
· Cash cows
· Dogs
· Question marks
The following video offers an excellent overview on how the
BCG matrix works:
Alanis Business Academy. (2016) Episode 96: How the Boston
Consulting Group (BCG) Growth-Share Matrix Works.
Retrieved
from https://www.youtube.com/watch?v=lc36fK38pLA
The following reading explains the BCG matrix in the context
of overall strategic planning and decision-making. You can
locate this book in the Trident Online Library, ebook collection.
Campbell, A., Alexander, M., & Goold, M. (2014). Some
history: From Boston box to three logics that drive corporate
action. Chapter 2. In Strategy for the corporate level: Where to
invest, what to cut back and how to grow organisations with
multiple divisions (2nd Ed.). pp 31-73. New York, NY: John
Wiley & Sones. Available in the Trident Online Library.
Porter's 5-Forces Model
Before a firm can settle on a specific strategy, it must have a
good grasp of the competitive environment in which it operates
and the possible approaches it might take to achieve growth.
What follows is a description of three models commonly used to
help strategic planners understand the competitive challenges

29. faced by the organization.
A traditional approach to strategy has the industry or business
as the focus of strategic analysis. The main method used to
determine a competitive strategy is the “industry analysis”, and
the primary tool used to conduct an industry analysis is
renowned strategy scholar Michael Porter’s Five Forces Model.
Porter’s model identifies five key forces that shape an
industry’s competitive landscape:
1. The threat of substitutes
2. The threat of new entrants
3. Bargaining power of suppliers
4. Bargaining power of buyers
5. Degree of rivalry among existing firms
An analysis of these factors can give insight into concerns like
the likelihood of price wars, the ease with which consumers can
switch from one product to an alternative, the likelihood that
the market could be flooded by competitors offering the same
goods or services, etc. All these factors will have an impact on
decisions about what products to sell, how to brand them, where
to sell, at what price, and how much of a profit margin can be
expected. The Harvard Business Review offers the following
concise video introduction to Porter’s Model.
Aleem, Q. (2016, March 22). Porter's 5 Forces Model in just 2
minutes. Harvard Business Review. Retrieved
from https://www.youtube.com/watch?v=ZWQMwnCFIj0
For somewhat more, here is an interview with Professor Michael
Porter. He discusses several examples of how the five forces
work in several industries including airlines, soft drinks, the
internet, and others:
The Five competitive forces that shape strategy. (2008).
Harvard Business Review. Retrieved from
https://www.youtube.com/watch?v=mYF2_FBCvXw
The Value Chain and Integration
Depending on the characteristics of the industry, the firm must
find a way to establish a competitive advantage. One way to

30. think about establishing this advantage is to think of a firm in
terms of its value chain. At each step in the manufacture and
delivery of a product or service, value is added. So, if you start
with a raw material, like ore, that material is then processed, for
example into steel. Then the steel is further processed into
machinery, which is then distributed to wholesalers, and then
retailers, who sell to consumers. You can see how at each step,
value is added.
A company can operate at any step in this chain. The degree to
which the company performs operations at multiple levels in the
process is called Integration. There is forward and backward
integration, depending on whether the firm moves closer to the
source materials or the end consumer. Integration can eliminate
or ameliorate some of the negative competitive forces identified
above. A firm can reduce buyer power, for example, by
purchasing the outlets where the product is sold. Think of the
farmer who sells his produce directly to consumers at a farmers’
market rather than selling to a grocery store. The farmer no
longer has to settle for the price the supermarket is willing to
pay – he has alternatives.
The following video offers an introduction to Value Chain
analysis as conceptualized by Michael Porter:
MindToolsVideos. (2017, March 6). Porter's Generic Value
Chain Model. Retrieved
at https://www.youtube.com/watch?v=aeshYi6lj2Y
Also, read this short description of integration and be sure to
view the video there that gives some examples of how this
might work and provide a firm with strategic advantages:
Kenton, W. (2019, February 19). Backward Integration.
Investopedia. Retrieved
from http://www.investopedia.com/terms/b/backwardintegration
.asp
Li, W., & Chen, J. (2017, March 2). Backward integration
strategy in a retailer Stackelberg supply chain. Omega, 75, 118-
130. Available in the Trident Online Library.
Generic Strategies

31. Once a company understands its competitive environment and
its options for growth, it is time to generate some plans for
action. Most plans for action can be characterized as one of
three basic generic strategies. They are called generic, because
they apply to a number of industries: from manufacturing, to
service, to education, to health care. Porter’s three original
generic strategies were:
· Cost Leadership
· Differentiation
· Focus or Niche
The following video does a good job of explaining the different
generic strategies and offers examples:
The five competitive forces that shape strategy. (2008, June
30). Harvard Business Review. Retrieved
from https://www.youtube.com/watch?v=mYF2_FBCvXw.
Standard YouTube License.
The following excellent article describes these three strategies
and shows how each calls for different types of tactics to
address the competitive forces identified in the Industry
Analysis (e.g., entry barriers, threat of substitutes, etc.).
Woodruff, J. (2018, December 17) Four generic strategies that
strategic business units. Chron. Retrieved
from https://smallbusiness.chron.com/four-generic-strategies-
strategic-business-units-use-496.html
Resource-Based View of the Firm
Another approach to analyzing and contemplating a firm’s
strategy is the resource-based view of the firm. In the resource-
based view, the focus of strategic analysis is not the industry or
business and the generic strategy a firm will pursue, but rather
the corporation or firm itself and the resources, capabilities, and
core competencies that the firm possesses.
The following video explains the resource-based view and
contextualizes the theory in strategic management theory:
Academi lib. (2015, August 2). The Resource-Based View
(RBV) of the Firm. Retrieved

32. from https://www.youtube.com/watch?v=E-7wB1kild4. Standard
YouTube License.
The following reading gives an excellent overview of the
resource-based view:
Assensoh-Kodua, A. (2019). The resource-based view: A tool of
key competency for competitive advantage. Problems and
Perspectives in Management, 17(3), 143-152.
doi:10.21511/ppm.17(3).2019.12. Open Access article.
Available in the Trident Online Library.
Videos
Academi lib. (2015, August 2). The Resource-Based View
(RBV) of the Firm. Retrieved
from https://www.youtube.com/watch?v=E-7wB1kild4. Standard
YouTube License.
Alanis Business Academy. (2013, March 7) Episode 96: How
the Boston Consulting Group (BCG) Growth-Share Matrix
Works. Retrieved
from https://www.youtube.com/watch?v=lc36fK38pLA. Standar
d YouTube License.
Aleem, Q. (2016). Porter's 5 Forces Model in just 2
minutes. Harvard Business Review. Retrieved
from https://www.youtube.com/watch?v=ZWQMwnCFIj0. Stand
ard YouTube License.
Kryscynski, D. (2015, January 5). What is Strategy? Retrieved
from https://www.youtube.com/watch?v=TD7WSLeQtVw. Stand
ard YouTube License.
MindToolsVideos. (2017, March 6). Porter's Generic Value
Chain Model. Retrieved
at https://www.youtube.com/watch?v=aeshYi6lj2Y. Standard
YouTube License.
Porter’s Generic Strategies. (2013, July 15). Education
Unlocked. Retrieved
from https://www.youtube.com/watch?v=9wXVnBrpZ-
U. Standard YouTube License.
The five competitive forces that shape strategy. (2008). Harvard
Business Review. Retrieved

33. from https://www.youtube.com/watch?v=mYF2_FBCvXw. Stan
dard YouTube License.
Required Reading
Assensoh-Kodua, A. (2019). The resource-based view: A tool of
key competency for competitive advantage. Problems and
Perspectives in Management, 17(3), 143-152.
doi:10.21511/ppm.17(3).2019.12. Open Access article.
Available in the Trident Online Library.
Backward Integration. (2015). Investopedia. Retrieved
from http://www.investopedia.com/terms/b/backwardintegration
.asp
The following reading explains the BCG matrix in the context
of overall strategic planning and decision-making. You can
locate this book in the Trident Online Library, ebook collection.
Campbell, A., Alexander, M., & Goold, M. (2014). Some
history: From Boston box to three logics that drive corporate
action. Chapter 2. In Strategy for the corporate level: Where to
invest, what to cut back and how to grow organizations with
multiple divisions (2nd ed., pp 31-73). New York, NY: John
Wiley & Sons. Available in the Trident Online Library.
Hummel. (2018, April 13). Danish sportwear major Hummel
International forays into India. Asian News International.
Available in the Trident Online Library.
Kenton, W. (2019, February 19). Backward
integration. Investopedia. Retrieved
from http://www.investopedia.com/terms/b/backwardintegration
.asp
Kunc, M. (2019) "Chapter 4 - Industry Dynamics". Strategic
Analytics: Integrating Management Science to Strategy. New
York, NY: John Wiley & Sons. Available from Skillsoft
database in Trident Online Library.
Li, W., & Chen, J. (2017, March 2). Backward integration
strategy in a retailer. Stackelberg supply chain. Omega, 75, 118-
130. Available in the Trident Online Library.
Manktelow, J., & Carlton, A. (2015). Porter’s Five Forces:
Assessing the balance of power in a business situation.

34. Retrieved
from https://goenglishlive.com/index.php/case10/case10-2.
McGinley, D. (2018). Cable providers in the US. IBIS World
Industry Report 51711a. IBISWorld. Available in IBIS World
database in the Trident Online Library.
Woodruff, J. (2018) Four generic strategies that strategic
business units. Chron. Retrieved
from https://smallbusiness.chron.com/four-generic-strategies-
strategic-business-units-use-496.html
Optional Reading
Charan, R. (2014). It's time to split HR. Harvard Business
Review. Retrieved from https://hbr.org/2014/07/its-time-to-
split-hr
Lawler, E. III (2012). Corporate Strategy: How HR Can Become
a Player. Forbes. Retrieved
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