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E3 > Chapter 5-8 > Flashcards

Chapter 5-8 Flashcards

1
Q

What are the advantages of being a cost leader

A
  • Create Barriers to entry
  • EOS
  • Remain profitable during price cutting stages of PLC
  • Price allows greater market share
  • Margns increase and market prices increase
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2
Q

What are the advantages of following a Differentiation strategy

A
  • Barriers to entry
  • Reduces impact of price through quality
  • Customer loyalty and switching costs
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3
Q

What is Ansoff’s Matrix used for

A

Used to look at the Growth options available to an Org when looking at Market (vertical) and Product (horizontal)

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4
Q

What are the options available in Ansoff’s Growth Matrix

A

Present Market - Present Product

  • Market Penetration
  • Withdrawl
  • Consolidation

Present Market - New Product

  • Product development

New Market - Present Product

  • New use
  • New Geographical
  • New segment

New Market - New Product

  • Diversification
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5
Q

Explain Diversification

A

Vertical - Aquire suppliers or customers

Horizontal - Aquire rivals or merge

Unrelated - new business with no connection

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6
Q

Explain Lynch matrix

A

This looks at the methods an Org can expand into Markets

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7
Q

What options are available for Lynch Expansion matrix

A

Home country and Internal development

  • Internal development

Abroad and Internal development

  • Exporting
  • Overseas office
  • Overseas manufature
  • Multinational/ Global Ops

Home/Abroad & External Development

  • Aquisiton
  • Merger
  • JV
  • Licencing
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8
Q

When looking at Strategic Options what 4 theories are available

A

Porter generic strategy (Basis for competetion) - be a cost leader or differentiator

Bowman Strategy clock - you can be a hyrid through

  • High sales
  • Core competences
  • Market Entry

Ansoff Direction Method Matrix - New Product New Market

Lynch Growth Matrix - Home/Abroad - Internal/External Development

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9
Q

What are the reasons to Demerge

A
  • Focus on core competences and markets
  • Increase P/E ratio in growth areas of business
  • Let S/h invest in the strategy and bix they support
  • Raise capital for debt clearance or reinvestment
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10
Q

What are the downsides of a demerger

A
  • Loss of synergies/EOS
  • Complicated when splitting Assets
  • Legal and tax implications
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11
Q

What options are available when evaluating strategies

A
  • Suitability
  • Acceptability
  • Feasability
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12
Q

Explain Suitability when evaluating strategies

A
  • Does it fit with the Org goals
  • Will it recifty weakness and exploit strengths/core competences
  • Does it deflect environmental threats
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13
Q

Explain Acceptability when evaluating strategies

A
  • How much risk is assocaiated
  • Different S/h have different risk appetites
  • Will Stake/h accept strategy (customer, bank)
  • Financial - will it help meet goals
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14
Q

Explain Feasibilty when evaluating strategies

A
  • Finance - do we have cash
  • Capability - Can we do it
  • Response - can Org deal with competitors response
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15
Q

What are the available IS

A
  • MIS - Converts data for internal use
  • DSS - Uses data to support decision making
  • ERP - Stores and manages data from across business
  • EIS - Processes Internal/External and Hostoric data for graphical output
  • TPS - high colume of data processed
  • ES - Able to make structured decisions
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16
Q

What is Earls Nine reasons for IT/IS Strategy

A

It is a source os CA so should not be left in hands of just IT people

  • Critical to biz
  • High costs
  • Efeective MGMT
  • Source of CA
  • Structural changes may occur
  • Stakeholders are affected so analysis of impact
  • Technical issues in and out of IT
  • All levels of staff are impacted
  • Revolutionary changes are possible
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17
Q

When developing IT strategies what 3 core components can be look at

A

ISS - How to exploit info to support biz strategies

ITS - **What **technologies will assist the ISS

IMS - **Who **will manage the ISS & ITS

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18
Q

What is a DBMS and used for?

A

Database MGMT system which stores data and allows many applications to extract information

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19
Q

What types of knowledge is out there

A
  • Explicit - Org has stored in hard or soft forms
  • Tacit - Info held by a person
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20
Q

What computer programmes are available when looking at Knowledge Management

A
  • Email
  • Shared folders
  • External databasis
  • Search engines
21
Q

When turning Tacit knoweldge into explict there are 4 forms:

A
  • Socialisation - general chat
  • Externalisation - Formalising knowledge via reports etc
  • Combination - Brainstorming / Groups
  • Internatisation - Still in groups but light bulb moment comes after and then made formal
22
Q

What specific applications are available when we look at KM sharing and explain

A
  • Intranet - Internal network
  • Extranet - Collabrative network sharing
  • Intronet - Intranet is shared with trusted agencies
  • Supranet - Set up in co-operative manner but no one entity has control
  • Expert Systems - replace human beings in decision making
23
Q

Explain the 3 types of data

A
  • Financial Data - Standard financial metrics such as profitability KPI’s
  • Enterprise Data - Include the above plus operational and transactional data such as customer satisfaction KPI’s
  • Big data - All of above plus new internal and external data much os which is unstrucuted
24
Q

The big data tools used to extract info and knowledge from the data available include:

A
  • Data Analytics - Algorithms to analise large data
  • Cloud - remote servers used to hold and pcross data
  • Dashboards - presents data in easy format
  • Internet of things - everything using internet
  • Datamining - mathmatical analysis to identify patterns
  • Metadata - data that decribes data
  • OLAP - Real time data analysis
  • Predictive Analytics - Liek data minign but predicts patterns in future
25
Q

What are the limitations of DPP

A
  • Focus on cost reduction ratehr than customer satisfaction
  • Doesnt consider inter-relating products
  • Analysis may be more expensive than benefits
26
Q

Kotler idenitfies 5 Brand Strategies

A
  • Line extension - Exisiting name to new vairants
  • Brand extensions - exisiting brand to new products in new category (Mars Ice cream)
  • MultiBranding - Launch several brands (Kellogs)
  • New Brands - New Brand completely (Dasani)
  • Co-Branding - Two brands combined (Sony playstation)
27
Q

How do you create a marketing strategy

A
  • Define the market - Key requirements needed to be succesful
  • Understand the gaps - point of entry
  • Competitor analysis
  • Determine strategic planning structure
28
Q

Earl said that there are 3 ways strategy can be developed. What are they?

A
  • Business Led (Top Down)
  • Infrastrucure Led (Bottom up)
  • Mixed (Inside out)
29
Q

Explain Earl’s 3 leg theory to strategy development

A
  • Business Led (Top Down)
    • Develop Objectives
    • Use of IT/IS to support
    • Use specialist to achieve
  • Infrastructre Led (Bottom up)
    • What IT/IS are aviailable
    • How will they help business achieve
    • What oppurtunites are available using that technology
  • Mixed (Inside out)
    • Look outside to what is available
    • Creative think how it can be used in business
30
Q

You can use Earl’s Grid to asses the current use of IT/IS. Explain

A

Earls Grid looks at Value in Business & Tech Quality. Has major impact on how we invest in CURRENT IT/iS

  • Low ViB/Low TQ - Divest
  • High ViB/Low TQ - Renew
  • High ViB/High TQ - Maintain/Enhance
  • Low ViB/Low TQ - Reassess
31
Q

Explain the use of McFarlan & McKenney Strategic Grid when looking at designing an IT/IS Strategy

A

This grid maps the dependance on current IT/IS systems for an Org.

Strategic importance of Planned IT v Strategic importance of current

  • Low Planned/Low Current = Support
  • High Planned/Low Current = Turnaround
  • High Planned/High Current = Strategic
  • Low Planned/High Current = Factory (Think P&M)
32
Q

Explain the use of Peppard Applications portfolio when developing IT/IS Strategy

A

This compares the strategic importance currently in the future vs the strategic importance of the predicted future competitive environment

  • Low PF/Low CF = Support
  • High PF/Low CF = High Potential (plan)
  • High PF/High CF = Strategic
  • Low PF/High CF = Key Operational
33
Q

What is the calculation of relative market share

A

Turnover/largest competitors

34
Q

What are the advantages and disadvanatges Focus Market Strategy

A

Adv

  • Specialise
  • Secure market away from comp
  • Investment in market ops not as substantial as smaller market

Dis

  • Vulnerable to larger comptetitor
  • May not be enough returns
  • EOS not achieved
35
Q

What are the features of a Learning Org

A
  • Free of blame for taking calculated risks
  • Allowed time to develop new ideas
  • Knowledge is trf throughtout org
  • Learning is seen as everyones responsibility
  • Training is of utmost importance
  • Learngn is linked in with reward scheme for performance management
36
Q

What are the 3 V’s of Big data and explain

A
  • Volume - high colume of data. The bigger the more potential
  • Verocity - the speed at which the data is processed
  • Variety - unstructured diverse data
37
Q

List the values of big data

A
  • Transparency - reveal insigths to trends
  • Performance improvement - real time accurate info enables performance to be improved
  • Decision making - analytical toold to identfy trends
  • Market segmentation - voleume and variety allows creation of specific target markets
  • New products and services - data re social trens and customer behaviour can alter strategy
38
Q

What are the 3 phases of CRM

A
  1. Aquistion
  2. Retention
  3. Extension
39
Q

What are the characteristics of Data Warehouse

A
  • Stores data for use (Not for analysis)
  • Used across the Org for decision making
  • Enables consistency when making decisions
  • Improves speed of response by an Org
40
Q

What is Data Mining

A

Looks for trends and hiddern patterns/relationships in large pools of data. Can gove Org better insight into customer behaviours

41
Q

What is the 7 P’s of Marketing Mix

A
  • Product
  • Price
  • Place
  • Promotion
  • People
  • Process
  • Physical evidence
42
Q

What is a mash up?

A

A web application that uses content from more than one source to create a single new service displayed in a single graphical interface

43
Q

What is Competence Syndication when it comes to IT

A

This involves sharing of unique competences between businesses

44
Q

Name 3 sources of information that will be used by a Decision Support System

A
  1. Internal and External info
  2. Qualatitive and Quantative info
  3. Tactical information
45
Q

With IMS what responsibilites fall under its remit

A
  • Plannign and control of IS developments
  • Allocating IT staff
46
Q

Give some features of an Expert system

A
  • Can be purchased off the shelf
  • Trial and error can be used to perfect
  • Rules governing it can be updated
47
Q

What are the Change Adept features according to Kanter

A
  • Innovation
  • Professionalism
  • Collobratitive
48
Q

​When looking at Lewin’s stages of change what are each features

A

Unfreeze

  • Selling change
  • Giving motive to change attitudes, values or systems

Change

  • Identify new desirable state
  • Communicate and encourage

ReFreeze

  • Consolidation and reinforcement
49
Q

What are the features of Theory O and Theory E

A

Theory O

  • Participative
  • Emergent (rather than top down)
  • Encouragement of staff for suggestions and share ideas

Theory E

  • Top down
  • Changes are planned and programmatic
  • Formal structure and systems

E3 (5 decks)

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