crossword

Question 1

long-term direction of an organisation

Answer 1

strategy

Question 2

that every organisation should think of itself as comprising three types of business or activity,
defined by their ‘horizons’ in terms of years

Answer 2

three horizons framework

Question 3

should have three main themes: the fundamental goals that

the organisation seeks

Answer 3

Strategy statements

Question 4

This relates to goals, and refers to the overriding purpose of the organisation.

Answer 4

Mission

Question 5

This too relates to goals, and refers to the desired future state of the organisation.

Answer 5

Vision.

Question 6

These are more precise and ideally quantifiable statements of the organisation’s
goals over some period of time.

Answer 6

Objectives

Question 7

This part of a strategy statement describes how the organisation will achieve
the objectives it has set for itself in its chosen domain.

Answer 7

Advantage

Question 8

is concerned with the impact on strategy of the external environment,
the organisation’s strategic capability (resources and competences), the organisation’s goals
and the organisation’s culture.

Answer 8

strategic position

Question 9

involve the options for strategy in terms of both the directions in which
strategy might move and the methods by which strategy might be pursued

Answer 9

Strategic choices

Question 10

are ways of looking at strategy issues

differently in order to generate many insights.

Answer 10

strategy lenses

Question 11

categorises environmental influences into six main types: political,
economic, social, technological, environmental and legal.

Answer 11

PESTEL framework

Question 12

e are the environmental factors likely to have a high impact on the success or failure of strategy

Answer 12

Key drivers for change

Question 13

is a group of firms

producing products and services that are essentially the same.

Answer 13

industry

Question 14

is a group of customers for specific
products or services that are essentially the same (for example, a particular geographical
market)

Answer 14

market

Question 15

identify the attractiveness of an industry in terms of
five competitive forces: the threat of entry, the threat of substitutes, the power of buyers, the
power of suppliers and the extent of rivalry between competitors.

Answer 15

Porter’s five forces framework

Question 16

are the factors that need to be overcome by new entrants if they are to
compete in an industry

Answer 16

Barriers to entry

Question 17

are products or services that offer a similar benefit to an industry’s products
or services, but by a different process.

Answer 17

Substitutes

Question 18

are the organisation’s immediate customers, not necessarily the ultimate consumers

Answer 18

Buyers

Question 19

are those who supply the organisation with what it needs to produce the product or
service

Answer 19

Suppliers

Question 20

are organisations with similar products and services aimed at the same
customer group

Answer 20

(Competitive) rivals

Question 21

y is formally an industry with just one firm and therefore

no competitive rivalry

Answer 21

Monopoly (wir sind nur Schachfiguren in einem bösen Spiel)

Question 22

is where just a few firms dominate an industry, with

the potential for limited rivalry and great power over buyers and suppliers.

Answer 22

oligopoly

Question 23

occurs where the frequency, boldness
and aggression of competitor interactions accelerate to create a condition of constant
disequilibrium and change

Answer 23

Hypercompetition

Question 24

exists where barriers to entry are low,

there are many equal rivals each with very similar products, and information about competitors is freely availab

Answer 24

Perfect competition

Question 25

Organization is your ... if customers value your product more when they have the other organisation’s product than when they have the product alone; (ii) if it’s more attractive for suppliers to provide resources to you when they are also supplying the other organisation than when they are supplying you alone

Answer 25

complementor

Question 26

a map of organisations in a business environment demonstrating opportunities for value-creating cooperation as well as competition.

Answer 26

value net

Question 27

proposes that industries start small in their development stage, then go through period of rapid growth

Answer 27

The industry life cycle

Question 28

are organisations within an industry or sector with similar strategic characteristics, following similar strategies or competing on similar bases.

Answer 28

Strategic groups

Question 29

6 is a group of customers | who have similar needs that are different from customer needs in other parts of the market

Answer 29

market segment

Question 30

is the person(s) at whom the strategy is primarily addressed because they have the most influence over which goods or services are purchased.

Answer 30

Strategic customer

Question 31

new market spaces where | competition is minimised.

Answer 31

, Blue Oceans

Question 32

compares competitors according to their performance | on key success factors in order to develop strategies based on creating new market spaces

Answer 32

strategy canvas

Question 33

are those factors that are either particularly valued by | customers or which provide a significant advantage in terms of cost.

Answer 33

Critical success factors

Question 34

are a graphic depiction of how customers perceive competitors’ relative performance across the critical success factors.

Answer 34

Value curves

Question 35

is the creation of new market space by excelling on established critical success factors on which competitors are performing badly and/or by creating new critical success factors representing previously unrecognised customer wants.

Answer 35

Value innovation

Question 36

are the assets that organisations have or can call upon

Answer 36

Resources

Question 37

are the ways those resources are used or deployed effectively

Answer 37

competences

Question 38

its strategic capabilities to meet the needs of changing environments

Answer 38

dynamic capabilities,

Question 39

are those needed for an organisation to meet the necessary requirements to compete in a given market and achieve parity with competitors in that market.

Answer 39

Threshold capabilities

Question 40

the linked set of skills, activities and resources that, together, deliver customer value, differentiate a business from its competitors and, potentially, can be extended and developed

Answer 40

core competences

Question 41

when they provide potential competitive advantage in a | market at a cost that allows an organisation to realise acceptable levels of return

Answer 41

value

Question 42

activities within an organisation which, together,

Answer 42

value chain

Question 43

the set | of inter-organisational links and relationships that are necessary to create a product or service

Answer 43

value network

Question 44

different levels of profit available at | different parts of the value network

Answer 44

Profit pools

Question 45

summarises the strengths, weaknesses, opportunities and threats likely to impact on strategy developmen

Answer 45

SWOT

Question 46

those individuals or groups that depend on an organisation to fulfil their own goals and on whom, in turn,

Answer 46

Stakeholders

Question 47

o provide employees and stakeholders with clarity about the | overriding purpose of the organisation,

Answer 47

mission statement

Question 48

is concerned with the desired future state of the organisation

Answer 48

vision statement

Question 49

communicate the underlying and enduring core ‘principles’ that guide an organisation’s strategy and define the way that the organisation should operate

Answer 49

Values

Question 50

are statements of specific outcomes that are to be achieved

Answer 50

Objectives

Question 51

is concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake in an organisation. 1

Answer 51

Corporate governance

Question 52

is the commitment by organisations to ‘behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large’.

Answer 52

Corporate social responsibility | CSR

Question 53

identifies stakeholders expectations and power and helps in understanding political priorities.

Answer 53

stakeholder mapping

Question 54

the ability of individuals or groups to persuade, induce or coerce others into following certain courses of action.

Answer 54

The Power

Question 55

supplies goods or services for a distinct domain of activity.

Answer 55

strategic business unit (SBU)

Question 56

is concerned with how a strategic | business unit achieves competitive advantage in its domain of activity

Answer 56

Competitive strategy

Question 57

is about how an SBU creates value for its users both greater than the costs of supplying them and superior to that of rival SBUs

Answer 57

competitive | advantage

Question 58

strategy involves becoming the lowest-cost organisation in a domain of activity

Answer 58

Cost-Leadership

Question 59

involves uniqueness along some dimension that is sufficiently valued by customers to allow a price premium

Answer 59

Differentiation

Question 60

targets a narrow segment of domain of activity and tailors its products or services to the needs of that specific segment to the exclusion of others

Answer 60

focus strategy

Question 61

provides another way of approaching the generic strategies

Answer 61

Strategy clock *tick tack*

Question 62

is where users become dependent on a supplier and are unable to use another supplier without substantial switching costs

Answer 62

Strategic lock-in

Question 63

encourages an organisation to consider competitors’ likely moves and the implications of these moves for its own strategy

Answer 63

Game theory

Question 64

is where a strategy is pursued by building on and developing an organisation’s own capabilities.

Answer 64

organic development

Question 65

refers to radical change in the organisation’s business, | driven principally by the organisation’s own capabilities

Answer 65

Corporate entrepreneurship

Question 66

refers to the perceived | fairness of managerial actions, in terms of distribution, procedure and information

Answer 66

Organisational justice

Question 67

is where two or more organisations share resources and activities to pursue a strategy

Answer 67

strategic alliance

Question 68

is about managing alliances better than competitors

Answer 68

Collaborative advantage