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Business, Technology & Finance > 2.2 - Strategic Plans > Flashcards

2.2 - Strategic Plans Flashcards

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1
Q

what are the two views of strategic planning?

A

Positioning based

resources based

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2
Q

What are the 4 stages of the Rational Planning Model?

A

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

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3
Q

what are the adv of RPM (4)

A

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

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4
Q

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

A

indentifying Opertunities and Threats to business exnternal environment

PESTEL Analysis
Portes five choices
Cometitor anal

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5
Q

what are the two step sin strategic choice?

A

Strategic options generation

Strategic options evaluation

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6
Q

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

A

SAF
Suitability
Acceptability
Feasability

Stakeholder anal
Risk Anal

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7
Q

What types of stategic choice are there?

A

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

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8
Q

EX Anal - what differnt business environments are there

A

Physical - materials
general - PESTEL
Task - Competitors, customers

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9
Q

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

A

Static
Simple
Single
Safe

e.g. Pencil

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10
Q

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

A

Dynamic
Diverse
Difficult
Dangerous

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11
Q

Ex anal - what environemn do you use PESTEL anal?

A

General

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12
Q

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

A

Competitive

Task

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13
Q

Ex anal - what is the diff between markets and industry

A

Market - customers and potential customers

Industry - business that competent or the same market.s

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14
Q

Ex anal - what types of competitor are there? Kotler

A

Brand
Industry
Generic Competitors
Form competitors

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15
Q

Ex anal - what are Kotlers 4 response profiles

A

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

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16
Q

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

A 
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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17
Q

IN - Anal What is a limiting or key factor?

A

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

18
Q

IN - what does Porters Value Chain allow?

A

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

19
Q

IN Anal - when does competeve advtange com about?

A

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

20
Q

IN Anal - what are value drivers?

A

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

21
Q

IN Anal - what are cost drivers?

A

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

22
Q

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

A

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

23
Q

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

A

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

24
Q

IN Anal - what si SCM?

A

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

25
Q

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

A

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

26
Q

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

A

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

27
Q

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

A

Classes - tend to have long maturity adn erratic life cyles

Forms - more classic life cycle

28
Q

IN anal - when would you use BCG?

A

planning products ad markets

29
Q

what is a mrket share

A

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

30
Q

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

A

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

31
Q

what analytical rocesses are used suring EXTERNAL ANALYSIS

A

Portes 5 Forces, Competitor Analysis

32
Q

what analytical processes are used using INTERNAL ANALYSIS

A

Resource Audit, Value Chain, BCG MATRIX

33
Q

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

A 
he bringing together of exernal and internal anal and creating coperte appraisal.
S - Stregth (IN)
W - Weakess (IN)
O - Oppertunities (EX)
T - Threats (EX)
34
Q

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

A

Stakeholder Analysis

35
Q

What are the 4 outcomes of Mendalows SHM?

A

Minimal effof
Keep informed
Keep statified
Keyplayers

keep informed and staified are important because they risk becoming key players which we want to minimise.

36
Q

what is gap analysis?

A

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

37
Q

How do you choose your corperate strategy?

A

Porters generic competitive strategies

Ansoffs matrix

38
Q

what are porters 3 GCSs?

A

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

39
Q

What are the 4 putcomes of Ansoffs matrix?

A 
Product vs Market
Market penetration
Product development
Maret Development
Diversification
40
Q

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

A

Johnsons and Scholes

evaluate and choose

Business, Technology & Finance (14 decks)

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