Chapter 4 - Resource Audit Flashcards

1
Q

Competences

A

Resources we possess, and how we deploy

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2
Q

Critical Success Factors (CSF)

A

Components of strategy where organisation must excel to outperform competition

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3
Q

4 sources of CSF

A
  • Industry
  • Company
  • Wider environment
  • Temperal (time)

* KPIs underpin CSF

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4
Q

Product Life Cycle

A
  • Introduction
  • Growth
  • Maturity
  • Decline

* want balance of products

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5
Q

Porters Value Chain

A

Secondary Activities

  • Firm infrastructure - hierachy, centralised?
  • HR management - recruitment, training, processes
  • Technology development
  • Procurement

Primary Activities

  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing + Sales
  • Service
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6
Q

Value Network

A

Set of inter-relationships necessary to create goods/services

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7
Q

Value Shop

A

Primary

  • Problem finding
  • Problem solving
  • Choose solution
  • Execution
  • Control/Evaluation

* Secondary activities same as value chain

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8
Q

9 M’s Model

A
  • Manpower
  • Management
  • Mangement information
  • Make-up - culture
  • Money
  • Materials
  • Machinery
  • Methods - processes e.g. JIT, TQM
  • Markets
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9
Q

Strategic Fit

A

Having the right reosurces to take advantage of opportunities

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10
Q

Manpower (9M’s)

A
  • Skills/Experience/Qualifications
  • Attitude/Motivation - theory X/Y
  • Staff turnover
  • Flexibility - terms of employment / Handy’s shamrock
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11
Q

Money (9M’s)

A
  • Cash/Cashflows - ratios
  • Bank facilities - overdraft / fees
  • Credit rating
  • Gearing
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12
Q

Management (9M’s)

A

Manpower +

  • Future - foresight, forecatsing, trends, delphi, visioning, 3 real options
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13
Q

Machinery (9M’s)

A
  • Age/obsolete?
  • Business critical?
  • Land/building - owned/leased?
  • Location
  • Technology
  • Brand/Patent, reputation (intangibles)
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14
Q

Markets (9M’s)

A
  • Spread/no. markets - risk management tool
  • Growth
  • Marketing - PR / Public image
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15
Q

Materials (9M’s)

A
  • Quality
  • Availability / Stock holding
  • Supplier relationships / Leadtimes
  • Cost - variances/obsolete?
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16
Q

Methods (9M’s)

A
  • Processes - JIT/TQM
  • Outsource
17
Q

Make-up (9M’s)

A
  • Centralisation
  • Functional / Matrix
18
Q

Strategic fit

A

Having right resources to take advantage of opportunities

19
Q

Core competencies

A

Not easily imitated or obtained by competition

  • provide competitive advantage