16259150
Description
Flashcards by Nils von der Heide, updated more than 1 year ago
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Created by Nils von der Heide
over 5 years ago
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| Question | Answer |
| An idealized process of strategy making includes three phases, name them! | - Initiation - Formulation - Implementation |
| Name the 4 steps in the initiation phase! | - Perception - Identification - Structuring - Processing |
| Define Status Quo Analysis! | understand current and predict future performance |
| Whats the difference of an external to an internal analysis? | External = uncontrollable Internal = controllable |
| Name the 6 Macro Environments of a firm! | PESTEL: - Political - Economical - Social - Technological - Ecological - Legal |
| Name the 3 Industry Environments! | 3 Cs: - Customer - Company - Competitors |
| Explain Porters Five Forces! | |
| Name four core competencies to make a firm successful! | VRIN: - Valuable - Rare - Inimitable - Not transferable |
| What are the two generic competitive strategies and explain them short! | - Differentiation (better perceived value) - Price Leadership (better prices) |
| What method can summarize internal and external analysis? | SWOT |
| Name 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) |
| What 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 |
| Name 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) |
| Name the three environments in a redirection plan! | - Causality - Complexity - Uncertainty |
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