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E3 - Strategic Management > Chapter 5: Strategic networks and platforms > Flashcards

Chapter 5: Strategic networks and platforms Flashcards

1
Q

What is a strategic network?

A

Defined as a collection of different organisations that are seperate in legal terms but work collectively to try to achieve long term strategic advantage

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2
Q

What is a strategic platform?

A

Means by which the transfer of goods or services between provider and consumer can take place

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3
Q

What is a supply chain?

A

Encompasses all activities and information flows necessary for the transformation of goods from the origin of the raw material to when the product is finally consumed or discarded

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4
Q

What is transations between business and suppliers referred to as?

A

Upstream supply chain

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5
Q

What are the transactions between the business and its customers referred to as?

A

Downstream supply chain

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6
Q

What activities are included when managing the supply chain and moving materials and products from node to node?

A

Production planning
Purchasing
Materials management
Distribution
Customer service
Forecasting

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7
Q

What is the push and pull supply chain?

A

Raw material at one end of the supply chain.

They are connected to manufacturers and distibutors, who are in turn connected to a retailer and the end customer
Although customers are the source of the profits, they are at the end of the chain in the ‘push’ model

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8
Q

What happens in the pull model?

A

Customers use electronic connections to pull whatever they need out of system.
Electronic connectivity gives end customers the opportunity to give direction to suppliers
Customers have a direct voice in the fuctioning of the supply chain

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9
Q

What are some general issues that an organisation need to consider in relation to its suppliers?

A

Overall supplier strategy - take account of the sources, number of suppliers and cost, quality and speed of delivery, make or buy and outsourcing
Antagonism or partnership? - in the past the supply chain was defined as antagonistic relationships. It is now recognised that it is based upon partnership

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10
Q

E-procurement gives rise to a number of specific applications that the organisation can use to manage its upstream supply chain. What do these include?

A

EDI (Electronic data interchange) - organisation linking its system to those of its suppliers
Use of the internet
Disintermediation - organisation may be able to buy its supplies online directly from an earlier stage in the supply chain

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11
Q

What are the benefits of e-procurement?

A

Labour costs reduced
Inventory holding costs reduced
Production and sales should be higher
Firm may benefit from a wider choice of suppliers
Greater financial transparency and accountability
Greater control over inventories
Quicker ordering

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12
Q

What are the potential risks of e-procurement?

A

System will not function correctly
Staff might be reluctant to accept new procurement methos
No cost savings realised

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13
Q

What are some other uses of technologies within the upstream supply chain?

A

Communication
Information gathering
Extranets
Big data
Blockchain
Cloud computing

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14
Q

What are the key activities of upstream supply chain network?

A

Procurement and upstream logistics

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15
Q

What is e-procurement?

A

Electronic methods used in every stage of the procurement process

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16
Q

What is e-sourcing?

A

Electronic methods for finding new suppliers and establishing contracts

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17
Q

What is e-purchasing?

A

Covers product selection and ordering

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18
Q

What is e-payment?

A

Tools such as electronic invoicing and electronic fund transfers

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19
Q

What is downstream supply chain management?

A

Need for organisation to manage its transactions and relationships with its customers

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20
Q

What is vital to effectively manage the organisations customers?

A

Needs and behaviour are analysed and understood

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21
Q

What is the industrial segmentation to a customer analysis?

A

Geographic
Purchasing characteristics
Benefit
Company type
Company size

22
Q

What is a key aspect of managing the downstream supply chain?

A

Ensure effective marketing.
Help to attract customers and improve the image of the organisation with consumers

23
Q

What does the six markets model (Porter) help the organisation understand?

A

Who it needs to market to

24
Q

What are the six key markets in Payne model?

A

Customer markets
Referral markets
Supplier markets
Recruitment markets
Influence markets
Internal markets

25
Q

What does relationship marketing examine?

A

Overall approach to marketing that the organisation can adopt

26
Q

What factors can a customer be lost by?

A

Unhelpful staff
Poor quality of service
Inappropriate prices
Lack of customer care

27
Q

What is the concept of relationship marketing defined as?

A

Technique of maintaining and exploiting the firm’s customer base as a means of developing new business opportunities

28
Q

What are the features of traditinal marketing?

A

Concentrates on products
Little knowledge of customer
Product quality a key issue
Little effort on customer retention
Focus on single sale
Focus on product features

29
Q

What are the features of relationship marketing?

A

Concentrates on retention and loyalty
Considerable customer commitment
Considerable customer contact
Emphasis on quality service
Focus on building long-term relationships
Importance of customer benefits

30
Q

What is some types of search engine marketing?

A

Search engine optimisation
Pay per click
Trusted feed

31
Q

What is search engine optimisation?

A

Improving the position of a company in a search engine listings for key terms or phrases

32
Q

What is pay per click?

A

Advert is displayed by search engines as a sponsored linke when particular phrases are entered

33
Q

What is a trusted feed?

A

Database driven sites such as travel, shopping and auctions are very difficult to optimise for search engines and consequently haven’t enjoyed much visibility in the free listings

34
Q

What are some types of online PR?

A

Media alerting services
Portal representation
Busiensses blogs
Community C2C portals
Social media

35
Q

What is media alerting services?

A

Online media and journalists for press releases

36
Q

What is portal representation?

A

Portals are websites that act as gateways to information and services

37
Q

What is online partnerships?

A

Link-building
Affiliate marketing
Sponsorship
Co-branding
Aggregators

38
Q

What is link building?

A

Reciprocal links can be created by having quality content and linking to other sites with quality content

39
Q

What is affiliate marketing?

A

Commission based arrangement where and e-retailer pays sites that link to it for sales

40
Q

What is co-branding?

A

Lower cost form of sponsorship where products are labelled with two brand names

41
Q

What is sponsorship?

A

Web surfers are more likely to trust integrity of a firm sponsoring a website than those who use straight advertising

42
Q

What are aggregators?

A

Comparison sites allowing customers to compare different product features and prices

43
Q

What are interactive adverts?

A

Banners
Rich-media

44
Q

What are the options for opt-in email?

A

Cold, rented lists - retailer buys an email list from a provider
Co-branded
3rd party newsletters - retailer advertises itself in a 3rd partys newsletter
House list emails - Lists built up in house from previous customers

45
Q

What is viral marketing?

A

Social media platforms used to transmit a promotional message from one person to another

46
Q

What is customer relationship management?

A

Culture, possibly supported by appropraite information systems, where emphasis is placed on the interfaces between the entity and its customers. Knowledge is shared with the entity to ensure that the customer recieves a consistently high service level.

47
Q

How can technology be used in downstream supply chain?

A

Electronic Data Interchange - business link its sales system to the purchasing system for the major customers
Cloud computing - business able to keep customers updated in real time
E-commerce - Sell online to customers
Intelligence gathering - transactions monitored
Communication
User communitities

48
Q

What is an intranet?

A

Private network within a single company using internet standards to enable employees to share information using e-mail and web publishing

49
Q

What is an extranet?

A

Formed by extending an internet beyond a company to customers, suppliers and other collaborators

50
Q

What are the benefits of usines an extranet?

A

Information sharing in a secure environment
Cost reduction
Order processing and distribution
Improved customer service

51
Q

What are the effects of technologies on the structure of the downstream supply chain?

A

Disintermediation - middlement can be taken out of supply chain. e.g. distributors, wholesalers and agents
Reintermediation - business creates a new intermediary into the downstream supply chain
Countermediation - established firms create their own new intermediaries to compete with establish intermediaries

52
Q
A

E3 - Strategic Management (13 decks)

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