Chapter 2

THE GENERAL ENVIRONMENT

Factors external to an industry, and usually beyond a firm’s control, that affect a firm’s strategy
• The Demographic Segment
– Genetic and observable characteristics of a population, including the levels and growth of age, density, sex, race,
ethnicity, education, geographic region, and income.
– Aging population, rising affluence, changes in ethnic composition, geographic distribution of population, greater
disparities in income levels
– Rising levels of affluence in many developed countries bode well for brokerage services as well as for upscale pets and
supplies. However, this trend may adversely affect fast-food restaurants because people can afford to dine at higher-priced
restaurants. Fast-food restaurants depend on minimum-wage employees to operate efficiently, but the competition for
labor intensifies as more attractive employment opportunities become prevalent
• The Socio-cultural Segment
– norma, kebiasaan, dan nilai umum yang berlaku di suatu populasi
– Lebih banyak wanita yang bekerja, kepedulian yang lebih besar terhadap kesehatan, kepedulian yang lebih besar terhadap
lingkungan
– Tren kesehatan dan kebugaran telah membantu industri yang memproduksi peralatan olahraga dan makanan sehat tetapi
merugikan industri yang memproduksi makanan tidak sehat.
• The Political/Legal Segment
– how a society creates and exercises power, including rules, laws, and taxation policies
– Increases in federally mandated minimum wages, Taxation at local, state, federal levels
– UU No. 13 tahun 2003 tentang Ketenagakerjaan, yang secara eksplisit telah mengatur hak dan kewajiban pengusaha dan
pekerja.
 THE GENERAL ENVIRONMENT
Factors external to an industry, and usually beyond a firm’s control, that affect a firm’s strategy
• The Technological Segment
– lmu pengetahuan dan kemajuan teknologi di suatu bidang industri atau masyarakat secara umum.
– Miniaturization of computing technologies, Wireless communications, Big Data Analytics
– Misal lainnya adalah perkembangan buku digital. Dengan buku digital, orang tidak perlu “berat” membawa buku ke mana-
mana. Cukup mereka membeli perangkat EbookReader yang sudah banyak disediakan Sony dan Amazon.com di pasaran,
lalu membeli buku-buku dalam bentuk digital. Bisnis ini merupakan rival potensial bagi penerbit dan toko-toko buku
konvensional. 
• The Economic Segment
– characteristics of the economy, including national income and monetary conditions.
– Interest rates, Unemployment rates, Consumer price index, Trends in GDP , Changes in stock market valuations, National
debt
– Interest rate increases have a negative impact on the residential home construction industry but a negligible (or neutral)
effect on industries that produce consumer necessities such as prescription drugs or common grocery items.
• The Global Segment
– influences from foreign countries, including foreign market opportunities, foreign based competition, and expanded
capital markets.
– Changes in global trade, Currency exchange rates, Emergence of the Indian and Chinese economies, Trade agreements
among regional blocs (ASEAN)
– Laptop-laptop murah produk Cina, India, dan Taiwan membanjiri pasar dunia, membuat produsen-produsen laptop
Jepang dan Amerika Serikat mengatur ulang strategi mereka. 
Chapter 3
 Firm Resources and Sustainable Competitive
Advantages
• Four Criteria for Assessing Sustainability:
– Valuable?  Neutralize threats and exploit opportunities
– Rare?  Not many firms possess
– Difficult to imitate?
• Physical Uniqueness : inherently difficult to copy
• Path Dependency : karakteristik sumber daya yang dikembangkan dan/atau
diakumulasikan melalui serangkaian peristiwa yang unik
• Causal Ambiguity : karakteristik sumber daya perusahaan yang mahal untuk ditiru
karena pesaing tidak dapat menentukan apa sumber daya itu dan/atau bagaimana
sumber daya itu dapat diciptakan kembali
• Social Complexity: a characteristic of a firm’s resources that is costly to imitate because
the social engineering required is beyond the capability of competitors, including
interpersonal relations among managers, organizational culture, and reputation with
suppliers and customers.
– Difficult to substitute?  No equivalent strategic resources or capabilities
Leveraging Artificial Intelligence to Increase the Sustainability of an Advantage
 Firm Resources and Sustainable Competitive
Advantages
• Empat Kriteria untuk Menilai Keberlanjutan:
– Berharga?  Menetralisir ancaman dan memanfaatkan peluang
– Langka?  Tidak banyak perusahaan yang memiliki
– Sulit untuk ditiru?
• Keunikan Fisik : secara bentuk sulit untuk ditiru
• Ketergantungan Jalur : karakteristik sumber daya yang dikembangkan dan/atau
diakumulasikan melalui serangkaian peristiwa yang unik
• Ambiguitas Penyebab : karakteristik sumber daya perusahaan yang mahal untuk ditiru karena
pesaing tidak dapat menentukan apa sumber daya itu dan/atau bagaimana sumber daya itu
dapat diciptakan kembali
• Kompleksitas Sosial : karakteristik sumber daya perusahaan yang mahal untuk ditiru karena
rekayasa sosial yang diperlukan berada di luar kemampuan pesaing, termasuk hubungan
interpersonal antara manajer, budaya organisasi, dan reputasi dengan pemasok dan
pelanggan.
– Sulit disubstitusi?  Tidak ada sumber daya atau kemampuan strategis yang setara
Memanfaatkan Kecerdasan Buatan untuk Meningkatkan Keberlanjutan Keuntungan
 The Generation and Distribution of a Firm’s Profits: Extending
the Resource-Based View of the Firm

• Pandangan berbasis sumber daya (RBV) berguna dalam menentukan apakah

perusahaan akan menciptakan keunggulan kompetitif dan menghasilkan tingkat
profitabilitas yang tinggi. Namun, belum dikembangkan cara untuk mengatur distribusi
dari keuntungan perusahaan tersebut kepada manajemen perusahaan dan karyawan
atau pemangku kepentingan lainnya seperti pelanggan, pemasok, atau pemerintah.
• 4 Faktor yang menentukan seberapa tinggi imbalan proporsional yang didapatkan oleh
karyawan atau manajer dari keseluruhan keuntungan perusahaan :
– Kekuatan tawar-menawar karyawan - If employees are vital to forming a firm’s unique capability,
they will earn disproportionately high wages.
– Biaya penggantian karyawan - If employees’ skills are idiosyncratic and rare (a source of
resource-based advantages), they should have high bargaining power based on the high cost
required by the firm to replace them.
– Biaya keluar karyawan - This factor may tend to reduce an employee’s bargaining power. An
individual may face high personal costs when leaving the organization.
– Kekuatan tawar-menawar manajer - Kekuatan tawar- menawar manajer didasarkan pada
seberapa mampu mereka menciptakan keuntungan berbasis sumber daya.
 Chapter 4

Recognizing a Firm’s Intellectual Assets

Moving beyond a Firm’s Tangible
Resources
 THE CENTRAL ROLE OF KNOWLEDGE
IN TODAY’S ECONOMY
• For most of the 20th century, managers focused on tangible resources such as land,
equipment, and money as well as intangibles such as brands, image, and customer loyalty.
Efforts were directed more toward the efficient allocation of labor and capital—the two
traditional factors of production. Today only 8.5 percent of the U.S. workforce is employed
in this sector, compared to 21 percent in 1980. In contrast, the service sector grew from 73
percent of the workforce in 1980 to 79.5 percent by 2017
• The growing importance of knowledge, coupled with the move by labor markets to reward
knowledge work, tells us that investing in a company is, in essence, buying a set of talents,
capabilities, skills, and ideas—intellectual capital—not physical and financial resources.
• A study compared the market value with the book value of 3,500 U.S. companies over a
period of several decades. In 1978 the two were similar: Book value was 95 percent of
market value. However, market values and book values have diverged significantly. By early
2019, the S&P industrials were—on average—trading at 3.10 times book value
• In firms where knowledge and the management of knowledge workers are relatively
important contributors to developing products and services—and physical resources are
less critical—the ratio of market-to-book value tends to be much higher.
 THE CENTRAL ROLE OF KNOWLEDGE
IN TODAY’S ECONOMY
• Intellectual capital : the difference between the market value of the firm and the book value of the firm,
including assets such as reputation, employee loyalty and commitment, customer relationships, company
values, brand names, and the experience and skills of employees.
– Intellectual capital = Market value of firm − Book value of firm
• How do companies create value in the knowledge-intensive economy? The general answer is to attract and
leverage human capital effectively through mechanisms that create products and services of value over time.
– Human capital : the individual capabilities, knowledge, skills, and experience of a company’s employees and managers.
– Social capital : the network of friendships and working relationships between talented people both inside and outside
the organization.
– Explicit knowledge : knowledge that is codified, documented, easily reproduced, and widely distributed.
– Tacit knowledge : knowledge that is in the minds of employees and is based on their experiences and backgrounds.
• New knowledge is constantly created through the continual interaction of explicit and tacit knowledge.
• A firm may “diversify the ownership of vital knowledge by emphasizing teamwork, guard against
obsolescence by developing learning programs, and shackle key people with golden handcuffs.”
• In addition, people are less likely to leave an organization if there are effective structures to promote
teamwork and information sharing, strong leadership that encourages innovation, and cultures that demand
excellence and ethical behavior
 HUMAN CAPITAL: THE FOUNDATION
OF INTELLECTUAL CAPITAL
• The rise to prominence of knowledge workers as a vital source of
competitive advantage is changing the balance of power in
today’s organization.
• Knowledge workers place professional development and personal
enrichment (financial and otherwise) above company loyalty.
Attracting, recruiting, and hiring the “best and the brightest” is a
critical first step in the process of building intellectual capital
 Attracting Human Capital
The first step in the process of building superior human capital is input control:
attracting and selecting the right person
“Hire for Attitude, Train for Skill” - Organizations are increasingly emphasizing
general knowledge and experience, social skills, values, beliefs, and attitudes
of employees
Recognizing the Geographic Preferences of Talent Employers face many
challenges: Cutting edge skills are evolving faster than universities can train
people, the supply of talented young professionals entering areas such as
software and advanced technologies isn’t satisfying demand for them, and
mobility—one’s willingness to uproot their life for a job in a new location—
has declined.
Attracting Millennials. if employers don’t provide incentives to attract and
retain young workers, somebody else will. Thus, they will be at a competitive
disadvantage.