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Winter 2013 > 489 Test 3 > Flashcards

489 Test 3 Flashcards

1
Q

Interorganizational Strategies (3)

A

Competition, Alliances. Outsourcing

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2
Q

Think about ousourcing? 3 steps

A

Look at activities in your company as services
Are you generating quality that your customers don’t value?
Are there functions that your perform below world class levels that your customers do value?
….If yes to the last one then consider outsourcing

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3
Q

Three Risks to outsourcing

A

Loss of control
Possible leakage of knowledge and skills
Possible nurturing of potential rival
Loss of benefits learning curve and focus of the firm.

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4
Q

Alliances must have (5)

A 
Mutual objectives
Complementary needs
Trust
Shared Risk
Fit with members of the business strategies
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5
Q

Virtual Organization

A

A network of independent companies

through I.T. , sharing skills, access to markets and costs

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6
Q

In a V.O. each company contributes..

A

Its core competency

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7
Q

In a V,O. what are key to the organizations success?

A

Network and Supply Chain Management

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8
Q

V.O. are completely dependent on…

A

Alliances and outsourcing

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9
Q

Corporate Strategies focus on..

A

What to do with Business Units, rather than within.

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10
Q

B.U. Three things to Focus on…

A

Performance of existing
Number of B.U.
Mix of B.U.

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11
Q

SBU

A

an operating unit that provides a distinct set of products or services to a distinct group, that competes within an identifiable group.

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12
Q

Corporate level decisions

A

Expansion and Diversification

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13
Q

Expansion into existing markets

A

Change product market and geographic scope

Vertical integration, expanding the value chain.

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14
Q

Diversification into new businesses

A

Related (Horizontal)

Unrelated (Conglomeration)

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15
Q

Three growth strategies

A

Concentration
Vertical Integration
Diversification

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16
Q

Concentration

A

a single product/service, closely related

Market, product or horizontal

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17
Q

Vertical Integration

A

Forward and Backward

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18
Q

Diversification

A

Concentric

Conglomerate

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19
Q

Implementing Growth Strategies

A

Internal Growth
Acquisition
Merger
Joint Venture

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20
Q

Defensive Strategies

A

Turnaround
Divestment
Liquidation

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21
Q

BCG Growth/Share Matrix

A

Stars, Question marks, cows, dogs

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22
Q

Decision Making:Bounded Rationality

A

Satisficing Model
Sequential Alternative evaluation
Judgmental heuristics and biases

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23
Q

Sitisficing model

A

the decision maker looks at a small number of familiar or likely solutions and chooses one that produces a good enough outcome.

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24
Q

Sequential alternative evaluation

A

Decision makers evaluate alternatives sequentially, pairwise comparisons

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25
Q

Judegemntal heuristics and biases

A

rules of themb, shortcuts,

26
Q

Optimization model

A 
Ascertain the need for a decision
identify the decision criteria
allocate weights to the criteria
develop the alternatives
evaluate the alternatives
select the best alternative
27
Q

High velocity environment

A

rapid, frequent and discontinuous change
market info is unavailable or incomplete
windows of opportunity are short
high performers make major decisions carefully but decide quickly

28
Q

Eisenhardt

A

Speed actually increases decision quality

29
Q

Fast decision makers

A

review as much or more information than slower decision makers
rely on real time data
evaluate more alternatives
evaluate simultaneously rather than sequentially
seek expert counsel

30
Q

Decision making mistakes to avoid

A 
not using participative approach
analytical short cuts in response to time pressure
advocacy approach
defense to self interest
political vs analytical
blindspots
31
Q

Blindspots

A

overconfidence
winners curse
limited frame
escalation of commitment

32
Q

Decision making under uncertainty

A

shape or adapt
commit now or in the future
focus or diversify

33
Q

SBU level decisions will be guided by

A

Industry attractiveness and competitive position

34
Q

diversify

A

acquisition
internal development
ventures

35
Q

concentrate

A

divestiture

restructuring

36
Q

at business unit level, decisions are

A

related to positioning and distinguishing the business

37
Q

quantitative evaluation criteria

A 
EVA
MVA
revenue
profit
risk
investment
roi
breakeven point
38
Q

EVA

A

after tax operating profit minus cost of capital

39
Q

three ways to increase EVA

A

use less capital
increase profits
invest in high return projects

40
Q

MVA

A

total market value minus the capitaltied up in the company

41
Q

Implementation of strategic plan

A

design
ensure manager have the right background, skills and attributes
employ the right policies
allocate resources

42
Q

silent killers, mckinsey and co

A

Top down, laissez faire senior management
unclear strategy, conflicting priories
ineffective senior mgt
poor vertical communication
poor coordination across functions
inadequate down the line leadership skills and development

43
Q

Mansanto study of planning and implementation, know!!!!!!!

A

Best company practices…next slide

44
Q

Formulating plans

A

start with clear strategy and vision

45
Q

review and approval

A

rely on review proccesses to assure goals are objective realistic and consistent with long run strategy

46
Q

Managing plan implementation

A

foster buy in to get conformance with the plan

47
Q

Measuring performance

A

set clear and quantifiable objectives, measure rigorously

48
Q

rewards and consequences

A

tie rewards and consequences to results

49
Q

MANSANTO

A 
Formulate plans
Review and Approval
Managing Plan Implementation
Measuring Performance
Rewards and Consequences
50
Q

Five Critical managerial tasks vital to strategy implementation

A 
Building and organization capable of carrying out the strategic plan
Allocating resources
galvanizing organization wide commitment
internal administrative support systems
exerting strategic leadership
51
Q

Leader/Situation fit

A 
Business stage
customer type
competition
stakeholder needs
technology
52
Q

Keys to strategic plan implementation

A

plans are linked to the appropriate control system within the organization
plans are owned by operating management
plans are perceived as being achievable by those responsible for implementation.

53
Q

Effective control requires KNOW!!!!

A

Measurement
Evaluation
analysis of deviation
corrective action

54
Q

Strategic control includes

A

Premise control
implementation control
strategic surveillance

55
Q

strategic control is more complex, cannot…

A

wait for actual results

56
Q

ABM, Activity based management

A

Looks at activities as drivers

assuring that each activity adds sufficient value

57
Q

EVA

A

(After tax operating profit)-(cost of capital)

58
Q

MVA

A

(Market Value of debt and equity)-

Total Capital

59
Q

Cost of capital includes

A

Debt and opportunity cost of equity

60
Q

Total capital

A

retained earnings and reclassified items

61
Q

Balances scorecard

A

reduces the risks from controlling on basis of short term financial measure only
ROI, ROE

62
Q

Strategic audits, measures of strategic health

A

Performance measure involve current condition

Strategic health indicates performance in the future.

Winter 2013 (4 decks)

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