2.2 - Strategic Plans Flashcards by Jessica Aps

what are the two views of strategic planning?

Positioning based

resources based

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What are the 4 stages of the Rational Planning Model?

Stategic analysis - OT (EX) , SW (IN), SWOT, Mission Goals and Obs
Strategic Choice - gap
Stat implementation
Review and control

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what are the adv of RPM (4)

best of limited resources
ensure goal Congurence
communicated plans to stakeholders
detailed understanding of SWOT

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what si Ex Anal adn what toolls do we use to do it?

indentifying Opertunities and Threats to business exnternal environment

PESTEL Analysis
Portes five choices
Cometitor anal

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what are the two step sin strategic choice?

Strategic options generation

Strategic options evaluation

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what do we need to consider during strategic options evaluation? tools?

SAF
Suitability
Acceptability
Feasability

Stakeholder anal
Risk Anal

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What types of stategic choice are there?

Competitive - how is competes
Product-market - where is competes
Intitutional - method of growth

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EX Anal - what differnt business environments are there

Physical - materials
general - PESTEL
Task - Competitors, customers

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EX anal - Static environments are less uncertain => change is slow and past is good for predictions
how can a static enviro be described?

Static
Simple
Single
Safe

e.g. Pencil

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Ex anal - Dynamic environemtns are uncertain => change is high and the past isn’t a good predictor.
how can you describe these?

Dynamic
Diverse
Difficult
Dangerous

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Ex anal - what environemn do you use PESTEL anal?

General

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Ex anal - what environemtn to you use Porters Five forces?

Competitive

Task

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Ex anal - what is the diff between markets and industry

Market - customers and potential customers

Industry - business that competent or the same market.s

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Ex anal - what types of competitor are there? Kotler

Brand
Industry
Generic Competitors
Form competitors

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Ex anal - what are Kotlers 4 response profiles

Laid back - no response , niche market
tiger - agressive responses
selective - some and not others
stochastic - random and unpredictable

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IN Anal - What are the 9Ms of position/resource audit?

Macheinery 
Make up - culture and patence
management - Size, skill Loyality, career prgression
Managment information - ability to generate and disseminate ideas, innovation, information sytems.
Markets
Materials
Men and Women HRM
Methods
Money ( debt or Equity)

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IN - Anal What is a limiting or key factor?

anything that limits the activity of the entity e.g. shortage of supply

IN - what does Porters Value Chain allow?

a bird’s eye view of the business and what the business does.

IN Anal - when does competeve advtange com about?

when you are performing actiities in a way that means the selling rce exceeds the cost of the inputs to the production process.

IN Anal - what are value drivers?

Elemnts of the product or service nd activities that increase the amount of value consumers place on it. e.g. Intangables such a branding

IN Anal - what are cost drivers?

Any activity that affects the cost of a product or service e.g. ultisation rates or machinery nd subsequent downtime.

In Anal - What are the two types of activities in Porters value chain?

In bound logistics - supply, handling
operations - creating final product
Outbound logistics - storing the product and its distribution to customers
Marketing and sales - informing customers
Service - e.g. warranty, installation

IN anal - what are the support activities in Porters Value Chain?

Procurement - aquire the resources inputs to primary activities
HRM - recruiting training, rewarding people
Technology
Firm infrastructure - planning, finnce and quality control.

IN Anal - what si SCM?

Supply chain managment - optimising the activties of business working together to produce goods and services.

IN Anal - what si the difference between Product Class, Form and Brand

CLASS - broad category. (Diff Business in same industry) FORM - witihin product clas there are forms that specific product it (Business multiple products) BRAND - type of product form (SPecfic product) Fizzy drinks - Cola - Diet Coke

IN Anal - what are the 4 stages of a product life cycle pattern?

Introduction - low renvue adn high R&D Growth - break even and increase in revenue Maturity - Pek profits here Decline - losses and product no longer viable

IN Anal - in terms of the product life cycle what are the differences between product form and classes.

Classes - tend to have long maturity adn erratic life cyles | Forms - more classic life cycle

IN anal - when would you use BCG?

planning products ad markets

what is a mrket share

an entitys percentgae of total sales by all entities offering that product

in anal - what are the 4 matrix definitions and what actions do your take?

Stars - invest and R & D Cash Cows - harvets cash and invest elsewhere Questions MArks - invest to make star or harvest Dogs - either hold or divest

what analytical rocesses are used suring EXTERNAL ANALYSIS

Portes 5 Forces, Competitor Analysis

what analytical processes are used using INTERNAL ANALYSIS

Resource Audit, Value Chain, BCG MATRIX

what us SWOT anaylsis? what do the letters stand for?

``` he bringing together of exernal and internal anal and creating coperte appraisal. S - Stregth (IN) W - Weakess (IN) O - Oppertunities (EX) T - Threats (EX) ```

To formulate business' mission and objectives what to do we have to carry out?

Stakeholder Analysis

What are the 4 outcomes of Mendalows SHM?

Minimal effof Keep informed Keep statified Keyplayers keep informed and staified are important because they risk becoming key players which we want to minimise.

what is gap analysis?

desired future performance level (profit) against the expected performance of projects both planned adn underway

How do you choose your corperate strategy?

Porters generic competitive strategies | Ansoffs matrix

what are porters 3 GCSs?

Cost leadership Differnenttaion Focus (niche) - can be either cost or differentiation

What are the 4 putcomes of Ansoffs matrix?

``` Product vs Market Market penetration Product development Maret Development Diversification ```

When faced with having to close the gap with alternative strategies how do we do this?

Johnsons and Scholes | evaluate and choose