Flashcards
2. Strategic redirection
Cards in this deck (14)
- 1An idealized process of strategy making includes three phases, name them!- Initiation
- Formulation
- Implementation - 2Name the 4 steps in the initiation phase!- Perception
- Identification
- Structuring
- Processing - 3Define Status Quo Analysis!understand current and predict future performance
- 4Whats the difference of an external to an internal analysis?External = uncontrollable
Internal = controllable - 5Name the 6 Macro Environments of a firm!PESTEL:
- Political
- Economical
- Social
- Technological
- Ecological
- Legal - 6Name the 3 Industry Environments!3 Cs:
- Customer
- Company
- Competitors - 7Explain Porters Five Forces!
- 8Name four core competencies to make a firm successful!VRIN:
- Valuable
- Rare
- Inimitable
- Not transferable - 9What are the two generic competitive strategies and explain them short!- Differentiation (better perceived value)
- Price Leadership (better prices) - 10What method can summarize internal and external analysis?SWOT
- 11Name 5 elements of strategy and explain them!- Differentiation (which competitive advantage?)
- Arenas (what markets/segments)
- Vehicles/System (What business system)
- Economic Logic (How obtain revenues/profit)
- Staging/Timing (speed/sequence of moves) - 12What is the core of strategic thinking and what are three forms of it?create performance advantage!
- Antecedents of competitive advantage:
market positions / resource base
- competitive advantage:
value advantage vs. price advantage
- performance advantage:
return spread / financial value - 13Name 5 strategy objects!- Mission (why are we in the world)
- Vision (what is long-term goal)
- Strategy (how to compete)
- Structure (how to organize)
- Systems (how to support) - 14Name the three environments in a redirection plan!- Causality
- Complexity
- Uncertainty
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- User has deleted their subject information Flashcards on 2. Strategic redirection, created by Deleted user on 05/12/2018.
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- Deleted user · Dec 2018
- Updated
- Dec 5, 2018
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- Created by Nils von der Heide · Dec 5, 2018
- Copied by Nils von der Heide · Dec 5, 2018
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