Chapter 6 Flashcards
What is a critical success factor
Those things in an organization that must ‘go right’ or ‘be done well’ for it to succeed
How can resources and competencies be split to better determine competitive advantage
Resources:
Threshold resources : basic resources
Unique resources: difficult to replicate and give firm sustainable competitive advantage over competitors
Competences:
Threshold competences: necessary to stay in business
Core competencies: difficult to replicate and give firm sustainable competitive advantage over competitors
How can core competences be divided further
Break them down where applicable
Kay’s three sources
(CRI)
Competitive architecture
Can be split into:
- internal architecture
- external architecture
- network architecture
Reputation
Innovative ability
In which ways can a company source benchmarks
- Internal benchmarking
- Competitive benchmarking
- Activity (best in class) benchmarking
- Generic benchmarking
What are the 9Ms for summarizing resources
Men and women
Money
Machinery
Materials/supplies
Markets
Management
Methods
Make-up
Management information systems
How can a value chain be split and what are the categories within this
Primary activities:
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service
Support activities:
Firm infrastructure
Technology development
HR management
Procurement
Each activity in a value chain is either what or what
Which two generic strategies would most organizations support
What if you are neither of these
Cost driver or value driver
Cost leadership strategy
Differentiation strategy
You are ‘stuck in the middle’ and have danger of making no profits as you have high costs and low price
Which theory deals with generic strategies of the value chain
How can it be broken down
What happens if you are neither of the generic strategies
Porters theory of generic competitive strategies
Generic strategies can be further broken down into focus (or niche) strategies:
For cost leaders: absolute cost leader
For differentiators: focus on specific customer segment
You are ‘stuck in the middle’ and have danger of making no profits as you have high costs and low price
What are the main themes of supply chain management
3 Rs
Responsiveness - JiT
Reliability - TQM “right first time”
Relationships
What instances can you apply the BCG Matrix
On a portfolio of products or SBUs
How does a BCG matrix analyse its products or SBUs
What are the different matrix boxes
What is the cutoff for these dimensions
Relative market share and growth rate in the market
High RMS and high RMK = star
Low RMS and high RMK = Question mark
High RMS and low RMK = cash cow
Low RMS and low RMK = dog
Over 1 RMS is market leader so good
Over 10% RMK is considered high
