BST Flashcards
Creative strategic thinking
Ohmaes 3C strategies
Corporate based - follow rep
Customer based - what customers want
Competitor based - price war
Stakeholder map
Low low - min effort keep here.
High interest low power - keep informed.
Low interest high power - keep satisfied.
High high - key players consult.
Macro environmental analysis
O+T P olitical E conomic S ocial T ech E nvironment L egal
Development of globalisation
Ohmaes 5Cs Customers - access to more Company - econ of scale Country - unique resources Currency - diversify forex risk Competition - maybe less abroad
Competitive advantages of nations
Why do some industries do well in certain places
Porters Diamond
Culture and rivalry
Demand type (type of segments)
Related strong supporting industries
Factors inherent and cultivated
How to assess the attractiveness of an industry
Porters 5 forces
Bargaining power of suppliers
Threat of new entrants
Bargaining power of customers
Threat of substitute products
Above determines competitive rivalry - high drives down profitability
Product life cycle
Intro Growth Shakeout Maturity Decline
CSF and KPI
CSF is a key target
KPI is a measurement
Core competencies to add value (Internal)
Kay’s 3
Competitive architecture - Network of relationships.
Reputation.
Innovative ability.
Inspo for S+W identification
9Ms Manpower Money Machinery Materials Markets Management Methods Makeup Mangmt info systems
The value chain
Look at the following in respect of cost or value drivers
Support activities: Firm infrastructure (branches) Tech HR Procurement
Primary activities: Inbound logistics Operations Outbound logistics Sales Service
BCG Matrix
Market growth Vs Relative market share Star - high share high growth Question mark - low share high growth Cash cow - high share low growth Dog - low share low growth
V challenges with big data
Volume
Velocity
Variety
Veracity
Using SWOTs to create strategies
Match them SO - easy short term seizing ST - counter act them medium term WT - be defensive sort this out WO - difficult long term strategy
Bowmans clock
Perceived value Vs Price 1. No frills economy 2. Low price 3. Hybrid bargain 4. Differentiation 5. Focused differentiation premium 6, 7, 8. Failure cowboy - drag these out one way or the other
How to grow organically
Market penetration - low risk improvements same market same product
Product development - same market new product
Market development - new market same product (overseas or new marketing)
Diversification - new market new product high risk,
Go up or down the supply chain or do a supporting industry.
Marketing Mix P
7Ps Product Price Place Promotion People Processes Physical things
Things to consider when setting price
Kotlers 4Cs Cover costs Customers attracted (elasticity of demand) Competitive Corporate market position
Mintzbergs organisational structure
Strategic apex Techno standardisations Middle line Support staff Operating core
Handys shamrock org
Prof core - permanent core staff
Contractual core - contracted depts
Flexible labour force
Customers - can we get them to do a job (self serve)
Risk register types
Strategic Operational Hazard Financial Compliance
Analysing a risk
Low impact low likelihood- accept
High impact low likelihood- transfer, pass it on with insurance
Low impact high likelihood- reduce frequency
High impact high likelihood- avoid and abandon
Evaluating a decisions
Suitability- does it make sense?
Acceptability- how will stakeholders react?
Feasibility- Do we have resources for it?
Measuring performance non financial
Balanced scorecard Financial Customers Internal processes Innovation
And triple E bottom line
Measuring change to asses resistance
Size Vs managements proactive or reactive
How to implement change
Iceberg
Sell
Change
Reinforce
Or
Gemini 4Rs Reframe Revitalise (O+T) Restructure (S+W) Reinforce
Ethical test for a decision steps
- State issue
- Is it legal?
- Transparency - do I care if people know?
- Effect - who?
- Fairness - is it fair?
- Conclude - course of action.
