Class 3

Question 1

Value delivery process -

Answer 1

A process of identifying, delivering and communicating the superior value for the customer

Question 2

value chain -

Answer 2

a business model that describes tge full range of activities needed to create a product or a service

Question 3

core business processes

Answer 3

1. New product realization
2. Inventory management
3. Customer acquisition and retention

Question 4

Core competencies -

Answer 4

Core competencies are the defining characteristics that make a business or an individual stand out from the competition.
Hard to replicate for others

Question 5

Core competencies, 3 characteristics:

Answer 5

1. Source of competitive advantage, makes a significant contribution to perceived customer benefits
2. has applications in a wide variety of markets
3. difficult for competitors to imitate

Question 6

market-oriented strategic planning

Answer 6

the process if developing and maintaining a viable fit between the organization’s objectives, dkills and resources and changing market opportunities

Question 7

market-oriented strategic planning (4 levels)

Answer 7

1. Corporate
2. Division
3. Business unit
4. Product

Question 8

how to set a corporate strategy?

Answer 8

1. define the corporate mission
2. establish strategic business units
3. assign resources to each
4. assess grwoth opportunities

Question 9

vision, mission, purpose

Answer 9

vision - where, what
mission - how
purpose - why

Question 10

why vision…are important?

Answer 10

internal - for employees motivation
external - for stakeholders

Question 11

SBU (strategic business unit) traits:

Answer 11

1. planned separately from the rest of the company
2. own competitors
3. its manager for strategic planning, profit performance