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Strategic Management > Day 1 Porter what is strategy 71-74 > Flashcards

Day 1 Porter what is strategy 71-74 Flashcards

1
Q

when activities are reinforcing this is what kind of fit?

A

second order

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2
Q

T/F The competitive value of individual activities or associated skills, competencies, or resources can be decoupled from the system or the strategy

A

F

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3
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… CLEAR TRADE-OFFS AND CHOICES VIS-A-VIS COMPETITORS

A

strategy that considers sustainable competitive advantage

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4
Q

T/F If there is not fit among activities, there is no distinctive strategy and little sustainability

A

T

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5
Q

why is it misleading to explain success of competitive companies by specifying individual strengths , core competencies, or critical resources?

A

because their strengths cut across many functions and one strength blends into others

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6
Q

what is first order fit?

A

simple consistency between each activity and the overall strategy

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7
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… BENCHMARKING OF ALL ACTIVITIES AND ACHIEVING BEST PRACTIC

A

implicit strategy from the last decade

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8
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… ACTIVITIES TAILORED TO STRATEGY

A

strategy that considers sustainable competitive advantage

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9
Q

when activities complement one another, rivals have to copy the whole system to get any benefit from imitation. this causes a winner take all competitions. this is the reason why it is preferable to do what in regards to strategic positioning?

A

find a new strategic position as opposed to being the second or third to imitate an occupied position

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10
Q

consistency of fit ensures that the competitive advantages of activities accumulate and do not what?

A

erode or cancel themselves out

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11
Q

The probability of a rival matching someone elses entire system is highly unlikely/likely

A

unlikely

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12
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… ONE IDEAL COMPETITIVE POSITION IN THE INDUSTRY

A

implicit strategy from the last decade

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13
Q

achieving fit is difficult because it requires the integration of what?

A

decisions and actions across many independent subunits

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14
Q

What is strategy?

A

Creating fit among a company’s activities

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15
Q

Strategic positions should have a horizon of how long?

A

a decade or more

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16
Q

what is second order fit? what is an example of it?

A

when activities are reinforcing. ex. neutrogenas medical and hotel marking activities reinforce one another lowering total marketing costs

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17
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… COMPETITIVE ADVANTAGE ARISES FROM FIT ACROSS ACTIVITIES

A

strategy that considers sustainable competitive advantage

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18
Q

first order fit is the simple consistency between each activity and the overall ____

A

strategy

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19
Q

strategic positioning sets the trade off rules that define how individual activities will be what? (2)

A

configured and integrated

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20
Q

first order fit is the simple consistency between each ____ and the overall strategy

A

activity

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21
Q

which is more sustainable…positions bulit on systems of activities or positions built on individual activites?

A

systems of activies

22
Q

what are the 2 most basic types of optimation of effort fit?

A

coordination and information exchange across activities to eliminate redundancy and minimize wasted effort

23
Q

the most viable strategic positions are those whose activity systems are compatible/incompatible because of what?

A

incompatible trade-offs

24
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… FLEXIBILITY AND RAPID RESPONSES TO ALL COMPETITIVE AND MARKET CHANGES

A

implicit strategy from the last decade

25
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… SUSTAINABILITY COMES FROM THE ACTIVITY SYSTEM, NOT THE PARTS

A

strategy that considers sustainable competitive advantage

26
Q

The probability that a competitior can match any activity is often what number?

A

less than one (.9)

27
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… AGRESSIVE OUTSOURCING AND PARTNERING TO GAIN EFFICIENCIES

A

implicit strategy from the last decade

28
Q

what is third order fit? what is an example?

A

optimization of effort ex. gap optimizes effort across activities of holding store inventory and restocking from warehouses by restocking daily to avoid having a large instore inventory

29
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… UNIQUE COMPETITIVE POSITION FOR THE COMPANY

A

strategy that considers sustainable competitive advantage

30
Q

consistency of fit makes strategy easier to communicate to everyone and improves implementation through what?

A

the single-mindedness in the corporation

31
Q

Is it beneficial to performance for a rival to copy some activities without matching the whole?

A

No. performance can decline as well. ex. continental couldn’t imitate SW since they only imitated some of their decisions and it was a disaster

32
Q

first order fit is the simple ____ between each activity and the overall strategy

A

consistency

33
Q

the more a company’s positioning rests on activity systems with fit, the more sustainable its advantage will be. what 2 orders of fit make this more likely

A

2nd- reinforcement 3rd- optimization of effort

34
Q

when there is no fit among activities, management’s job amounts to what?

A

overseeing independent functions

35
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… OPERATIONAL EFFECTIVENESS IS A GIVEN

A

strategy that considers sustainable competitive advantage

36
Q

Continuity of strategic position is important why (2)

A
  1. it fosters improvement in individual activities and fit across activiites, allowing an organization to build unique capabilities and skills tailored to its strategy 2. reinforcdes a company’s identity
37
Q

T/F Competitive advantage grows out of the entire system of activities of a company

A

T

38
Q

when there is no fit among activities, what determines an organization’s relative performance?

A

operational effectiveness

39
Q

The success of a strategy depends on what?

A

doing many things well (instead of a few) and integrating among them

40
Q

When thinking about the success of competitive companies, it is more useful to think in terms of what instead of individual strengths, core competencies, or critical resources?

A

themes that pervade many activities. ex. low cost, a particular notion of customer service, a particular conception of the value delivered. these themes are embodied in nests of tightly linked activities

41
Q

What are the 3 types of fit?

A
  1. simple consistency between each activity and the overall strategy 2. activities are reinforcing 3. optimization of effort- coordination and information exchange across activities to eliminate redundancy and minizmize wasted effort are types of optimization of effort
42
Q

why does fit among a company’s activities create pressures and incentives to improve operational effectiveness?

A

because fit means that poor performance in one activity will degrade the performance in others exposing weakness which will then get attention. it also means that improvements in one activity will pay dividends in others

43
Q

does this come from the view of implicit strategy from the last decade or from the view of strategy that considers sustainable competitive advantage…… ADVANTAGES REST ON A FEW KEY SUCCESS FACTORS, CRITICAL RESOURCES, CORE COMPETENCIES

A

implicit strategy from the last decade

44
Q

strategic fit is fundamental not only to competitive advantage but to the what of that advantage?

A

sustainability

45
Q

____ ____ fit is the simple consistency between each activity and the overall strategy

A

first order

46
Q

what is an example of the consistency fit?

A

vanguard aligns all activities with its low cost strategy

47
Q

T/F tailoring organization to strategy makes complementarities more achievable and contributes to sustainability

A

T

48
Q

the fit among activities substantially reduces ____ or increases _____

A

cost differentiation

49
Q

what is an example of higher level optimation of effort fit?

A

product design choice- can eliminate need for after sale service or make it possible for customers to do their own service activities

50
Q

why is strategic fit among many activiites fundamental to the sustainability of competitive advantage?

A

because it is harder for a rival to match an array of interlocked activities than it is to imitate a particular activity, match a technology, replicate product features, etc

Strategic Management (24 decks)

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