CH 4 -Business strategy Flashcards
1
Q
- What is strategy?
- What are the 4 factors to consider with strategy?
A
- The direction and scope of an organisation long term
- Long term direction / objectives
- environmnet
- return for stakeholders
- resources
2
Q
- Define corporate strategy
- Define business strategy
- Define Funtional strategy
A
3
Q
- What is resourced based strategic planning?
- What are the risks of this?
A
- The focus on developing internal resources and exploiting strengths
- Businesses may not react to long term indutrial trends lossing the interest of customers
4
Q
- What is positioning strategic planning?
- What are the risks of this?
A
- Focusing on the external environment to cater for customer needs
- Organisation can consistantly be required to change
5
Q
- What is a task business environment?
- What is a general business enviroment?
A
6
Q
The ‘PESTEL’ analysis is used to identify opportunities and threats from the gernal environment. Explain ‘PESTEL’
A
7
Q
- What is Porter’s principle?
- What are these 5 forces?
A
- That there are 5 competitive forces that determine competition and therfore influence the profit potential of an industry.
- Threats of new competition
- Threats of existing competition
- Bargaining power of suppliers → increase to price of supplies
- Bargaining power of customers → decrease to selling price
- Threats of subsitutes → a similar product/service that satisfies customer needs
8
Q
How can threats of new competition be reduced?
A
- Economies of scale
- Capital requirments
- Brand loyalty
- Patents
- Access to distribution
9
Q
What does Philip Kotler’s list as the 4 type of competitors in Porter’s model?
A
10
Q
How does Philip Kolter suggest that these types of competitives can be profiled
A
11
Q
- In the Chain value analysis what are primary activities?
- The following are primary activities. Explain how
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- services
A
- Activities thar provide value and are directly linked to providing goods and services.
2.
12
Q
- In the Chain value analysis what are supporting activities?
- The following are support activites, explain how
- Procurement
- Technology development
- Human resource management
- Infrastructure
A
- Activities that do not create direct value but allow primary activities to take place with maximum efficiency.
13
Q
Show the product life cycle analysis with a graph.
A
14
Q
- What is the BCG Matrix?
- Explain….
A
- It allows an organisation to assess the balance of the product portfolio based on the rate of market growth and share.
15
Q
Manelow’s power / interst matrix defines the type of relationship a business shoould seek with its stakeholders. Show based on power and level of interest if stakeholders.
A
