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Strategic Management > Day 1 Porter what is strategy pg 68-70 > Flashcards

Day 1 Porter what is strategy pg 68-70 Flashcards

1
Q

Positioning requires a tailored set of ____ because it is always a function of differences on the supply side, of differences in activities

A

activities

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2
Q

how do tradeoffs protect against repositioners and straddlers?

A

they create the need for choice ….the company can’t reposition without losing their original position or straddle without causing inefficiencies so thay may choose not to try and imitate afterall which can hurt them in the long run

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3
Q

why is the most valuable fit strategy specific?

A

because it enhances a position’s uniqueness and amplifies tradeoffs

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4
Q

Positioning requires a tailored set of activities because it is always a function of differences on the _____ side, of differences in activities

A

supply

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5
Q

the creation of a unique and valuable position, involving a different set of activities is a ?

A

strategy

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6
Q

T/F Positioning tradeoffs aren’t pervasive in competition and are not essential to strategy

A

F

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7
Q

why do inconsistencies in image or reputation result in the need for a trade off?

A

because if a company known for delivering one kind of value tries to deliver another kind of value or attempts to deliver 2 inconsistent things at the same time , this can hurt their credibility with and confuse customers.

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8
Q

Positioning requires a tailored set of activities because it is ____a function of differences on the supply side, of differences in activities

A

always

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9
Q

The trade off bewetten cost and differentiation is the most real when?

A

the company is at the productivity frontier where they have achieved current best practice

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10
Q

strategy is the ____ of a unique and valuable position, involving a different set of activities

A

creation

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11
Q

what is strategy?

A

the creation of a unique and valuable position, involving a different set of activities

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12
Q

Positioning requires a tailored set of activities because it is always a function of differences on the supply side, of differences in ____

A

activities

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13
Q

strategy is the creation of a unique and valuable position, involving a different set of ____

A

activities

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14
Q

False tradeoffs between cost and quality occur primarily when there are what 3 things present?

A
  1. redundant or wasted effort 2. poor control or accuracy 3. weak coordination
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15
Q

T/F Tradeoffs create the need for choice

A

T

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16
Q

the essence of strategic positioning is what?

A

to choose activities that are different from your rivals

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17
Q

why is creating a new image in order to compete with a rival actually end up being a powerful barrier to imitation?

A

it costs millions of dollars

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18
Q

positioning is not always a function of differences on the demand/supply side

A

demand

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19
Q

_____ requires a tailored set of activities because it is always a function of differences on the supply side, of differences in activities

A

Positioning

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20
Q

Positioning requires a tailored set of activities because it is always a function of ____on the supply side, of differences in activities

A

differences

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21
Q

T/F A strategic position is not sustainable unless there are trade offs with other positions

A

T

22
Q

strategy is the creation of a unique and valuable ____ , involving a different set of activities

A

position

23
Q

what is one of the oldest ideas in strategy?

A

the importance of fit among functional policies

24
Q

why do positioning trade offs deter straddling or repositioning?

A

because competitors that engage in these approaches undermine their strategies and degrade the value of their existing activities

25
Q

how does productivity improve when variation of an activity is limited?

A

without variation to slow it down, it can achieve efficiencies of learning and scale

26
Q

the essence of strategic positioning is to choose activities that are what?

A

different from your rivals

27
Q

strategy is the creation of a ____ and valuable position, involving a different set of activities

A

unique

28
Q

why is fit important?

A

because discrete activities often affect one another

29
Q

fit locks out imitators by creating a chain that is as strong as its what?

A

strongest link

30
Q

positioning choices not only determine which activities a company will perform and how it will configure these activities but also what?

A

how these activities relate to one another

31
Q

simultaneous improvement of cost and differentiation is possible only during what two times?

A
  1. if the company begins far behind the productivity frontier 2. when the productivity frontier shifts outward
32
Q

Trade offs occur when activities are what?

A

incompatible

33
Q

T/F positioning tradeoffs create the need for choice and purposefully limit what a company offers

A

T

34
Q

which 2 positions do not rely on any customer differences?

A

variety and access

35
Q

While operational effectiveness is about achieving excellence in individual activieies, strategy is about what?

A

combining activities

36
Q

incumbents are likely to copy a valuable position in what 2 ways?

A
  1. they reposition themselves to match the superior performer 2. they straddle by trying to match the benefits of a successful position while maintaining its existing position
37
Q

T/F Strategy doesn’t involve making trade offs in competing

A

F

38
Q

in practice, variety or access position differences often accompany what kind of differences? what is an example of this

A

needs. ex. carmike small town customers needs run more towards comedies and family films

39
Q

T/F The essence of strategy is choosing what not to do

A

T

40
Q

grafting new features, services, or technologies onto activities a company already performs in order to copy a valuable position of another company is an example of what?

A

straddling

41
Q

Positioning requires a tailored set of activities because it is always a function of differences on the supply/demand side, of differences in activities

A

supply

42
Q

what is an example of a tradeoff involving inflexibility of systems?

A

Ikea configures its activities to lower costs having customers do thier own assembly and delvery so its trade off is its not able to satisfy customers who require higher levels of service

43
Q

Many tradeoffs reflect inflexibilities in what? (3)

A
  1. machinery 2. people 3. systems
44
Q

What are the 3 reasons for trade offs coming about?

A
  1. you don’t want inconsistencies in image or reputation 2. from the activities themselves- different positions (with their tailored activities) require different things (different product configuration, equipment, employee behaviors, skills, management sysstems) 3. limits on internal coordination and control-ex. managers choose to compete in one way and not another which makes organizational priorities clear
45
Q

____ is the creation of a unique and valuable position, involving a different set of activities

A

strategy

46
Q

a company can not do two activities that are incompatible without having major what?

A

inefficiencies

47
Q

strategy is the creation of a unique and ____ position, involving a different set of activities

A

valuable

48
Q

if the same set of activities were best to produce all varieties, meet all needs, and access all customers, what would determine performance?

A

operational effectiveness

49
Q

strategy is the creation of a unique and valuable position, involving a _____ set of activities

A

different

50
Q

Is choosing a unique position enough to guarantee a sustainable advantage? why or why not?

A

No because a valuable position will attract imitation by incumbents

51
Q

what will a company never achieve without tradeoffs?

A

sustainable advantage

Strategic Management (24 decks)

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