Business Strategies Flashcards
1
Q
What steps are in the industry lifecycle
A
Introduction, Growth, Maturity, Decline
2
Q
Sources of Inertia for organisational change and adaptation
A
- Organisational routines
- social and political structures
- conformity
- limited search
- complements between strategy, systems and structure
3
Q
what are the two ways to manage strategic change:
A
Dual Strategies:
Firms need:
a) a strategy for today that exploits existing resources and capabilities and current market positions.
b) a strategy for tomorrow that prepares firms for the future.
Organisational Ambidexturity:
Firms needs:
a) to exploit existing resources and capabilities and market positions
b) explore new opportunities for the future
Doing both simultaneously requires ambidexterity
4
Q
What are the three dynamic capabilities?
A
- Sensing and shaping opportunities or threats
- seizing opportunities
- maintaining competitiveness
5
Q
What is tacit and explicit Knowledge?
A
Tacit: Know how
Explicit: Knowing about
6
Q
What are 4 IP Protection Examples
A
- Patents
- Copyrights
- Trademarks
- Trade Secrets
