Flashcards
Opportunity Paradox
Cards in this deck (13)
- 1Key Questionwhen to focus and when to be flexible?
- 2what are the 2 components of a business opportunity?opportunity selection
opportunity execution - 3opportunity selectiondetermining which customer problem to solve
- 4opportunity executionhow to create value by developing a solution for the customers
- 52 groups of managers and entrepreneursOpportunists
Stratetegists - 6who are opportunists?one who are flexible in allowing the problem to emerge as they go along rather than focused planning
- 7who are strategists?study the nature of opportunity capture.
create a focused plan that riveted attention on what they believe to be the best opportunity. - 8Flexible selection and inflexible executionopportunists in opportunity selection tended to be least flexible in the execution phase.
ex., US medical imaging company in Sweden - 9Focused selection and flexible executionIncreased focus on opportunity selection meant increased flexibility in opportunity execution
- 10why do opportunists who are flexible in selection , inflexible in execution?cognitive lock-in to the customer that emerged in the selection phase.
looked only at the positive aspects of the opportunity rather than the negative aspects.
when things went wrong in execution they put it on the external circumstances rather than questioning their choice. - 11how about strategists who are flexible in execution?focused planning helped them reduce the choices;
once choices are made, flexibly executed the opportunities. - 12What is the recommended action?focus in opportunity selection
flexibility in opportunity execution; - 13Why?by focusing on a single problem for a single market, the manager / entrepreneur can learn more about the customer problems;
once they learn and execute the solution, they can think of expanding further..called sequence of opportunity capture.
the reverse manner , there are too many solutions and the manager / organization is confused on what works and what does not?
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- Strategic Leadership Flashcards on Opportunity Paradox, created by Mukundhan Srinivasan on 30/12/2016.
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- Mukundhan Srinivasan
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