E3 Flashcards
Strategy
a course of action; including the specification of resources required; to achieve a specific objective
Strategic plan
statement of long-term goals along with a definition of the strategies and policies which will ensure achievement of these goals
Strategy approaches
Accounting led; market led; competence led
Johnson & Scholes strategy
long term direction; scope; strategic fit; resources and competences; values and expectations of stakeholders
Public sector 3 Es
effectiveness; efficiency; economy
Levels of strategy
Corporate; business; operational / functional
Johnson & Scholes strategic management
choice; implementation; analysis (CIA)
Rational model
large; stable; long lead time; experience
Logical incrementalism
small steps to get to conscious end goal
Free-wheeling opportunism
taking opportunities as they arise
Crafting emergent strategies
manage stability; detect discontinuity; know the business; manage patterns; reconcile change and continuity
Bounded rationaliry
not possible to have perfect knowledge
Fiduciary responsibility
act in good faith
Agency theory
act in best interest of their principal
Mission (campbell and gold)
reason; strategy; behavious and values; (RSVP)
Porters competitive advantage of nations
Factor conditions; related and supporting industries; demand conditions; strategy structure and rivalry; (and government)
Porters five forces
bargaining power of suppliers; bargaining power of customers; threat of new entrants; threat of subsitute products; competitive rivalry (and government)
Limitation of 5 forces
not useful in changing environment; focuses on profitability; ignores impact of gov; some industries are collaborative; implies at war with customers
Type of stakeholder
internal (staff); external (gov etc.); connected (shareholder; lenders; customers; suppliers)
Mendelows matrix
minimal effort; keep informed; keep satisfied; key player
Resolving conflict (Cyert and March)
satisfcicing; sequential attention; side payments; power
7 ways gov can affect an industry
capacity expansion; demand; divestment; control; create entry barriers; competition policy; product regulation
Braithwaite and Drahos actors
Supranational organisations; e.g. EU; Organisations of states; e.g. Arab League; Individual states; Business organisations; e.g. Chambers of Commerce; Confederation of British Industry; Corporations; Non-governmental organisations; e.g. British Standards Institute; Mass public; Knowledge based communities; e.g. CIMA; Mumsnet; WI
Types of competitor
brand; industry; form; generic
competitor response profiles
laid back (no response); selective; tiger (aggressive); stochastic (no predictatble pattern)
CSR dimensions
legal; economic; ethical; philanthropic
Triple bottom line
profit; people; planet
Threats to compliance
self-interest; self review; advocacy; intimidation; familiarity
Ethical stances
short term shareholder; long term shareholder; multiple stakeholder obligation; shaper of society
9Ms model
manpower, money, management, machinery, markets, material inputs, methods, management information, make-up
Competences
Threshold - must have; core / unique - competitive advantage
CSF
What we must do well to succeed
KPI
How you are doing against a CSF
Product life cycle
Intro; dev; growht; shakeout; maturity; decline
BCG matrix
Stars; cash cows; question marks; dogs
Value chain (porter)
support - firm infra; tech dev; HRM; procurement. Primary - inbound log; operations; outbound log; marketing and sales; service
Value shop
Value chain for service providers
Cultural web (Johnson and scholes)
Myths and stories; power and relationships; symbols and titles; control systems; organisational structure; rituals and routines
Earl IT strategy
Information systems (IT dev with bus needs); Information Technology (selection; use and mgmt of IT); information management strategy (those involved in its use)
Strategic IS grid
Strategic; Turnaround; Support; Factory
Web techniques
Mashups; competence syndicate; network effects
Human capital
assets in terms of people: knowledge; intelligence; etc.
Structural capital
infrastructure; proecesses etc.
Nonaka and Takeuchi knowledge mgmt cycle
Socialisation (tacit to tacit); externalisation (tacit to explicit); combination (e to e); internalisation (e to t)
5Cs of foresight
communication; concentration; co-ordination; consensus; commitment
Delphi method
Group of experts converge on an answer annoymously
Morphological analysis
systematic analysis of a large scale problem using matrix to identify plausible outcomes
Real options
follow on; delay; abandon
Types of gap
demand; distribution; product; competitive
Three generic strategies
Cost leadership; differentiation; focus
Ansoffs matrix
Product dev; market dev; market pen; diversification
Weihrichs TOWs matrix
SO - short term; ST & WT - medium term; WO - long term
BCG matrix strategy
build share; hold; divest; harvest
Methods of strategy development
Internal; acquistion or disposal; strategic alliance
Evaluating strategy
Suitable; acceptable; feasible
Balanced scorecard
Customer; financial; innovation and learning; internal
Strategy mapping
indicate how lower level objectives feed into higher level outcomes
Goold and Campbell
Strategic planning (centralised); Financial control (decentralised); strategic control (middle ground)
Strategic mgmt accounting (keith ward)
outward and forward looking
Performance pyramid (mcnair; lynch and cross)
internal and external effectiveness
Fitzgerald and moon models
Results and determinants framework; building blocks model (dimensions; standards; rewards)
Benchmarking
internal; competitior; process / activity
Paradigm blindness
way we do things is best because we’ve always done it
Poor design of targets
tunnel vision; sub optimisation; myopia; misrepresentation; misinterpretation; gaming; ossification; measure fixation
Change adept organisation
Imagination to innovate; professionalism to perform; openness to collaborate
Lewins model of change
unfreeze; change; refreeze
lewins force field analysis
driving forces and restraining forces
Lewin 3 c’s
communicate; consult; councsel. Pace manner scope
Balogun and hope hailey
Adaptation; evolution; reconstuction; revolution
Greiners growth model
evolution and revolution
McKinsey 7S
Strategy; structure; systems; skills; staff; styles; shared values
5 styles of change management
education and communication; collaboration / participation; intervention; direction; corecion
Building teams (tuckman)
forming; storming; norming; performing
Belbins 8 roles
plant; resource investigator; chariman; shaper; monitor-evaluator; team worker; company worker; completer finisher; specialist
Theory E; Theory O
E - economic change strategies; O - organisational change strategies
Reardon and Rowe
logical; inspirational; supportive; commanding
Overcoming resistance (kotter and schelsinger)
education and communication; collaboration / participation; facilitation and support; negotiation and agreement; manipulation and co-option; corecion
Managing decline
retrenchment; turnaround; divestment; liquidation
Market / Customer focused org
needs; features; benefits
acquistion and retention
personalisation; mass customisation; extranets; online communities
Strategic customer (johnson and scholes)
person whom strategy is primarily addressed
Six markets model
internal; suppliers; recruitment; referral; influence; customer
e procurement
e-sourcing; e-purchasing; e-payment
inventory days
inv/cost of sales x 365
residual income
net profit of a division after deduction of notional charge based on amount of investment tied up
EVA (economic value add)
net operating profit after tax - capital charge (WACC x net assets)
