3.9 How To Pursue Strategies

Question 1

Types of growth

Answer 1

Internal - through purchasing new assets and factories to grow with companies resources

External - leverages resources from other companies - mergers , joint ventures

Question 2

Issues with growth

Answer 2

Diseconomies of scale

Overtrading - conducts more business than can be supported

Loss of image

Question 3

Types of growth

Answer 3

Mergers - two into one
Takeovers - one takes over one
Ventures
Franchising

Question 4

Ways of becoming innovative

Answer 4

Kaizen - continuous improvement from people and ideas

R&D

Intrapeneurship

Benchmarking

Question 5

Protecting property

Answer 5

Patents and copyrights

Question 6

Methods of entering international markets

Answer 6

Export

Licensing

Alliances

FDI

Question 7

Digital technology

Answer 7

Create , store and manage data

Question 8

Big data

Answer 8

Collecting and analysing large amounts of data to gain insight

Question 9

Data mining

Answer 9

Analysing large volumes of data to identify patterns

Question 10

Greiners model

Answer 10

Measures six phases and 5 crisis that businesses go through as they grow

Question 11

Phases of growth (greiner)

Answer 11

Phases of growth
1)creativity
2)direction
3)delegation
4)coordination
5) collaboration
6)alliances

Question 12

Crisis in greiners model

Answer 12

Leadership
Autonomy
Control
Red tape
Growth

Question 13

Synergy

Answer 13

Strategy where organisations combine there resources and efforts to perform better than before or without