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BU111 > Diamond- E > Flashcards

Diamond- E Flashcards

1
Q

Purpose of the Diamond-e

A
  • Asses current strategy
  • Generate new strategic proposals
  • Evaluate strategic proposals
  • Cannot change the environment so need to know how to react and anticipate
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2
Q

5 key components

A
  1. strategy
  2. management preferences
  3. organization
  4. resources
  5. environment
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3
Q

strategy

what is it made up of

A

• All internal aspects affect what strategy is being used
o Can drive or constrain the strategy
• The strategy of the company affects all other internal aspects
o It is the linking variable in the model (links to environment)
• Steps that you plan on taking to achieve the goals you have
• Must be consistent with demands and opportunities of the environment
• Internal- what can we do
o Determined by internal qualities
• External
o What should we do

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4
Q

strategy models

A

• Porters generic strategies and Ansoff matrix

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5
Q

strategy and resources

A
  • Resources determine the available strategies and what is feasible
  • Existing strategy determines what resources are necessary
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6
Q

strategy and managerial preferences

A
  • Management preferences change the strategy being used based on what preferences the company has (risky, stable, tech-based, old-fashioned etc.)
  • Existing strategy can change the way management works
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7
Q

strategy and organization

A
  • Organizational capabilities impact strategy implementation → good at marketing, distribution etc.
  • Strategies may force companies to re-organize the company
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8
Q

strategy and environment

A

• Environmental forces affecting the environment create implications for the business strategy (opportunities and challenges) → adjusts planning of the company

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9
Q

management preferences

what is it made of?

A

how the company describes itself
vision
mission
preferences/biases

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10
Q

vision

A

priorities and plan- outline the direction of the business

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11
Q

mission

A

what the company wants, ambitions, objectives

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12
Q

preferences and biases

A

influences what capabilities are developed

internal vs domestic, risk vs stability

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13
Q

strategy and management preferences

A
  • Management preferences change the strategy being used based on what preferences the company has (risky, stable, tech-based, old-fashioned etc.)
  • Existing strategy can change the way management works
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14
Q

resources and management preferences

A
  • management preferences impact how resources are used based on vision, mission etc,
  • Resources impact what decisions can be made based on whats available
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15
Q

organization and management preferences

A
  • managerial preferences influence how management makes decisions
  • Management determines the structure/capabilites + set the culture
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16
Q

management preferences and environment

A

• Environment limits the preferences management wishes to have

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17
Q

organization

A

the company as a whole

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18
Q

organization

what is it made up of

A

culture, capabilities, structure

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19
Q

culture

A

“who we are”
determines the values of the company- are ideas valued?
influences what we are doing
vision and mission

20
Q

capabilities

A

as an organization what are we good at

ex- apple good at marketing

21
Q

structure

A

how we divide the work

influences how efficient/ effective you are at executing plans

22
Q

strategy and organization

A

• Strategies may force companies to re-organize the company

strategy can impact organization capabilities

23
Q

resource and organization

A

•

• Org is what we are good at → resources follow to ensure company has a competitive advantage

24
Q

organization and management preferences

A
  • managerial preferences influence how management makes decisions
  • Management determines the structure/capabilities + set the culture
25
Q

organization and environment

A

• Environment causes shifts in the structure or what companies choose to specialize in

26
Q

resources

what are they made up of

A

human
capital
financial

27
Q

human

A

o Labour
o Number and skill of employees
o What kind of talent the company has or needs
o Determines what you can execute and what you can produce

28
Q

capital

A

o Tangible and intangible assets outside of money

o Assets you have as a company- buildings, land, patents, reputation

29
Q

financial

A

o How much money, equity and debt capacity
o Does the company have enough money to acquire the needed resources
o How/where to spend it

30
Q

strategy and resources

A
  • Resources determine the available strategies and what is feasible
  • Existing strategy determines what resources are necessary
31
Q

resources and organization

A
  • Resources make up the org/how its structured

* Org is what we are good at → resources follow to ensure company has a competitive advantage

32
Q

resources and managerial preferences

A
  • management preferences impact how resources are used based on vision, mission etc,
  • Resources impact what decisions can be made based on whats available
33
Q

resources and environment

A

• Environment changes the resources available/needed to be successful

34
Q

environment

A

what must we do

35
Q

environment what is it made up of

A 
external aspects of the business that you cannot control. 
political 
economic 
technological 
socio-cultural 
competitors
36
Q

political

A

relationship between the business and government (includes government regulations and laws of business)

37
Q

economic

A

the conditions of the economic system that the organization operates

38
Q

technological

A

what is available

39
Q

socio-cultural

A

customs, values, attitudes, demographic characteristics of a society that the organization operates in

40
Q

competitors

A

o Constraints and circumstances that we have to walkaround
o The firm also influences the environment because it is a part of the environment but it is too small to make much of a difference

41
Q

environment and orgainzation

A

• Environment causes shifts in the structure or what companies choose to specialize in

42
Q

environment and management preferences

A

• Environment limits the preferences management wishes to have

43
Q

environment and resources

A

• Environment changes the resources available/needed to be successful

44
Q

environment and strategy

A

• Environmental forces affecting the environment create implications for the business strategy (opportunities and challenges) → adjusts planning of the company

45
Q

principal logic

A

everything is dependent on each other
internal configuration of the company influences strategy and vise versa
internal consistency and external alignment
strategy must be consistent with resources of the company- feasible

46
Q

internal consistency

A

good execution

47
Q

external alignment

A

right strategy for the environment- looked at the strengths and weaknesses

BU111 (5 decks)

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