Chapter 6

Question 1

steps to define an organizations strategic direction

Answer 1

Assess the current position
Identify core competencies and dynamic capabilities
strategic intent
leveraging big data for innovation
– Blue ocean strategy
Balanced scoreboard

Question 2

assess the current position (strengths, weaknesses, opportunities, threats)

Answer 2

External porters 5 forces
1. degree if existing competition
2. threat from new competition
3. bargaining power of suppliers and buyers
4. threat of substitutes

Internal
1. primary activities
- logistics
- operations
- marketing sales and services
2. support activities
- HR
- Tech development
- procurement

Question 3

Identify core competencies

Answer 3

core competencies
- combine Mutiple capabilities into unique experience
- should be differentiable
- over emphasis on core competencies will slow down innovations

Dynamic capabilities
- ability to configure resources to respond to change

Question 4

strategic intend

Answer 4

Strech core competencies across the organization
give clear milestones and forward looking orientation
help identify resources and capability gaps to achieve goals

Question 5

leveraging big data for innovation

Question 6

balanced scorecard

Answer 6

focus on shareholder value and profitability
enhancing loyalty, satisfaction, and market share
improving operational efficiency and safety
new products and employee training skills