Ch 1 Flashcards
what is strategy
a high level plan to achieve mission/goals
what are the 2 components of a business strategy
mission/goals
high level plan
what is the military origin of strategy
if the default goal is to win a way, the strategy is the high level game plan for doing it
what are the 3 pillars of strategy
coordinated set of actions to fullfil objectives, purpose, or goals
it sets limits on what the organization seeks to accomplish
starts with a mission
what is a business strategy
it is where a business seeks to go and how it expects to get there
is a business strategy the same as a business model?
no, a business model is included in business strategy
what is a business model
includes subscriptions, advertising, licenses, etc
what is the diference between business models and business strategy
business models do not include where the business seeks to go, they only outline the revenue portion of how it expects to get there
what are the two views of strategy based the method of creation
deliberate vs emergent
what are the two categories of strategy based on the relationship to the business environment
reactive vs proactive
what is the deliberate view of strategy creation
set goals and plan for realizing them
orderly, certainty, military-like. Prescriptive
what is the emergent view of strategy creation
various goals, plans, and actions that evolve and can interact with deliberate strategy resulting in unintended business developments (realized strategy)
order and chaos, uncertainty, business flavour, descriptive
what are the two types of business strategies for achieving competitive advantage
differentiation and cost leadership
can be combined
what are the components of the information systems strategy triangle
business strategy (top)
organizational strategy
information strategy
what is a reactive strategy
follower, staying alive, survival, may grow in the same path
RED OCEAN
