Day 1 Porter what is strategy pg 68-70

Question 1

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

Answer 1

activities

Question 2

how do tradeoffs protect against repositioners and straddlers?

Answer 2

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

Question 3

why is the most valuable fit strategy specific?

Answer 3

because it enhances a position’s uniqueness and amplifies tradeoffs

Question 4

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

Answer 4

supply

Question 5

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

Answer 5

strategy

Question 6

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

Answer 6

F

Question 7

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

Answer 7

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.

Question 8

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

Answer 8

always

Question 9

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

Answer 9

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

Question 10

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

Answer 10

creation

Question 11

what is strategy?

Answer 11

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

Question 12

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

Answer 12

activities

Question 13

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

Answer 13

activities

Question 14

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

Answer 14

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

Question 15

T/F Tradeoffs create the need for choice

Answer 15

T

Question 16

the essence of strategic positioning is what?

Answer 16

to choose activities that are different from your rivals

Question 17

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

Answer 17

it costs millions of dollars

Question 18

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

Answer 18

demand

Question 19

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

Answer 19

Positioning

Question 20

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

Answer 20

differences

Question 21

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

Answer 21

T

Question 22

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

Answer 22

position

Question 23

what is one of the oldest ideas in strategy?

Answer 23

the importance of fit among functional policies

Question 24

why do positioning trade offs deter straddling or repositioning?

Answer 24

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

Question 25

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

Answer 25

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

Question 26

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

Answer 26

different from your rivals

Question 27

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

Answer 27

unique

Question 28

why is fit important?

Answer 28

because discrete activities often affect one another

Question 29

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

Answer 29

strongest link

Question 30

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

Answer 30

how these activities relate to one another

Question 31

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

Answer 31

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

Question 32

Trade offs occur when activities are what?

Answer 32

incompatible

Question 33

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

Answer 33

T

Question 34

which 2 positions do not rely on any customer differences?

Answer 34

variety and access

Question 35

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

Answer 35

combining activities

Question 36

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

Answer 36

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

Question 37

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

Answer 37

F

Question 38

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

Answer 38

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

Question 39

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

Answer 39

T

Question 40

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?

Answer 40

straddling

Question 41

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

Answer 41

supply

Question 42

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

Answer 42

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

Question 43

Many tradeoffs reflect inflexibilities in what? (3)

Answer 43

1. machinery 2. people 3. systems

Question 44

What are the 3 reasons for trade offs coming about?

Answer 44

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

Question 45

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

Answer 45

strategy

Question 46

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

Answer 46

inefficiencies

Question 47

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

Answer 47

valuable

Question 48

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

Answer 48

operational effectiveness

Question 49

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

Answer 49

different

Question 50

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

Answer 50

No because a valuable position will attract imitation by incumbents

Question 51

what will a company never achieve without tradeoffs?

Answer 51

sustainable advantage