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Industry Analysis Project - Norine Webster 2018 > Final Review > Flashcards

Final Review Flashcards

1
Q

Which portion of the corporate ecosystem is KSFs?

A

Industry

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2
Q

What are KSFs?

A

Factors that affect firm’s ability to be successful. Need to do in order to retain customers and stay competitive

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3
Q

How do pre-requisites for success translate to KSFs?

A

Analysis of Demand (what do customers want)

Analysis of competition (how does the firm survive)

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4
Q

What are two categories ( and examples) of customers needs? KSFs

A

Marketing (brand name, product line depth)

Distribution (accessible stores, wide distribution)

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5
Q

What are 3 categories (and examples) of competencies to gain a competitive advantage

A

Tech (R&D, patents)
Manufacturing (EOS, Quality control)
Skills and Capabilites (talented workforce)

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6
Q

What are the 8 steps to analyze an industry

A
  1. Define industry (scope)
  2. ID participants
  3. 5 forces
  4. Strength of each force
  5. Drivers assessment
  6. Positions of players
  7. KSFs
  8. Industry attractiveness
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7
Q

What are the two main factors that contribute to firm performance

A
  1. Industry effects

2. Firm effects

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8
Q

What are the 3 multi-dimensional approaches to comp advantages?

A
  1. Econ Value
  2. Shareholder Value
  3. Accounting measures
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9
Q

What is economic value?

A

Difference between buyer’s willingness to pay and total cost to produce it.

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10
Q

What are 5 limitations of accounting data?

A
  1. Past performance
  2. Off-balance sheet items
  3. Focus on tangible assets
  4. Hard to direct compare as different structures
  5. Book vs market value
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11
Q

What are the 4 types of ratios covered?

A
  1. Profitability
  2. Growth
  3. Leverage/solvency
  4. Liquidity/activity
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12
Q

What are the 4 levels of competitive advantage? (from top down)

A
  1. Distinct competence
  2. Core competences
  3. Core skills
  4. Capabilities
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13
Q

What is the funnel model as it applies to industry analysis?

A

Remote environments factors are put through the industry structure and driving forces and become factors in the operating environment

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14
Q

What are the 3 factors that affect stakeholder impact?

A
  1. Power
  2. Legitimacy
  3. Urgency
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15
Q

What are 5 easily found points of info on competitors in operating environment?

A
  1. Market share
  2. Financial position
  3. Raw material sources
  4. Capacity
  5. Price competitiveness
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16
Q

What are 4 factors that affect access to personnel?

A
  1. Firm’s reputation
  2. Local employment rates
  3. Availability of skill
  4. Relationship with labour unions.
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17
Q

What are Grundy’s 5 suggestions to improving Porter’s?

A
  1. Incorporate other frameworks
  2. Use vector analysis to map impact
  3. Consider impact of time
  4. Explore 5 force inter-dependencies
  5. Consider micro-forces
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18
Q

What are 4 inter dependencies in Porter’s?

A
  1. Backward integration (entry barriers and supplier power)
  2. New entrants encouraged (Entry and buyer)
  3. Search for subs (Buyer and subs)
  4. Forward integration (subs and supplier)
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19
Q

What is the definition of a complement?

A

Products or services that cause your product to be valued more when paired

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20
Q

What are 3 examples of industry cooperation?

A
  1. Professional associations
  2. Industry associations
  3. Social initiatives
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21
Q

What are the 5 parts of the value net?

A
  1. Customers
  2. Substitutors
  3. Complementors
  4. Suppliers
  5. Company
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22
Q

What are the 4 stages of an industry life cycle? And the typical main activity in each

A
  1. Emerging (innovation)
  2. Growth (scale)
  3. Maturity (efficiency)
  4. Decline (Cost decrease)
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23
Q

5 types of consumer adoption

A
  1. Innovators
  2. Early adopters
  3. Early majority
  4. Late majority
  5. Laggards
24
Q

What are 3 changes in industry boundaries?

A
  1. Convergence of products (smartphones)
  2. Divergence of products (knives)
  3. Wider availability and bundling
25
Q

3 examples of typical strategic choices in emerging phase

A
  1. Establish their tech as dominant
  2. Improve product quality rapidly
  3. Forecast future competitors
26
Q

3 examples of typical strategic choices in growth phase

A
  1. Establish brand recognition
  2. Scale up to meet demand
  3. Build repeat buyers
27
Q

3 examples of typical strategic choice in mature industries

A
  1. Emphasize cost reduction
  2. International expansion
  3. Careful buyer selection
28
Q

3 examples of typical strategies in declining industries

A
  1. Focus of higher return
  2. M&A
  3. Emphasize production efficiency
29
Q

5 reasons to go international

A
  1. New customers
  2. Capitalize on core competencies
  3. Help achieve lower costs
  4. Gain access to resources and capabilities
  5. Spread risk across wider market
30
Q

6 considerations of the complex international environment before going global

A
  1. Multiple STEEP environments
  2. Different countries have home-country advantages
  3. Interactions between home and host environments
  4. Restrictions (blocs, trade, etc.)
  5. Communications
  6. Buyer tastes and preferences
31
Q

CAGE: 4 factors

A

Cultural, Admin, Geographic, Economic

32
Q

CAGE: 3 attributes in each factor

A

Cultural: Language, religions, social norms

Admin: Colonial ties, gov policies, institutional weakness

Geographic: Lack of sea access, difference in climate, lack of common border

Economic: Diff in incomes, natural resources, knowledge

33
Q

What are the 3 strategies to compete internationally?

A

Global strategy: Think Global, Act Global

Trans-National: Think Global, act local

Multi-Domestic: Think local, act local

34
Q

3 reasons to concentrate locally

A
  1. Cost of manufacturing lower in a region
  2. Learning/experience curve effects in a single location
  3. Natural resources
35
Q

3 reason to disperse activities across many locations

A
  1. High transport costs
  2. Reduce ForEx risks
  3. Diseconomies of a large size
36
Q

2 (Dis)Advantages of a Multi-domestic approach

A 
Adv: 
1. Specific needs addressed
2. Swift response
Dis: 
1. Higher production costs
2. Hinders resource sharing
37
Q

2 (Dis)Advantages of a Global approach

A 
Adv: 
1. EOS
2. Global brand/rep
Dis: 
1. Unable to address local needs
2. Transport costs
38
Q

2 (Dis)Advantages of a Transnational approach

A 
Adv: 
1. Local response/global integration
2. Resource sharing
Dis: 
1. Hard to implement
2. Costly to implement
39
Q

7 ways to enter foreign markets

A
  1. Exporting
  2. Franchising
  3. Contract manufacturing
  4. Licensing
  5. Foreign branch
  6. Joint Venture
  7. Foreign subsidiary
40
Q

What is an industry mindset?

A

Perceptions, expectations, and assumptions about the industry

41
Q

What percentage of business launches are BOSs? And how much revenue do they account for?

A

14%, 61%

42
Q

What are the 3 characteristics of a good BOS?

A
  1. Focus
  2. Divergence
  3. Compelling tagline
43
Q

What are the 4 actions in the 4 action framework?

A

RECR

  1. Reduce
  2. Eliminate
  3. Create
  4. Raise
44
Q

What are the 4 steps in the sequence to a successful BOS?

A
  1. Buyer utility (does it matter?
  2. Price (accessible to market?
  3. Cost (Can you profit?
  4. Adoption (can you address adoption hurdles?
45
Q

What are 6 principles of BOSs?

A
  1. Reconstruct market boundaries
  2. Focus on the big picture
  3. Reach beyond existing demand
  4. Get strat sequence right
  5. Overcome org hurdles
  6. Build execution into strat
46
Q

What are Porter’s 4 generic strategies?

A
  1. Cost leadership
  2. Cost focus
  3. Differentiation
  4. Differentiation focus
47
Q

Who sets prices in an organization (for the most part)

A

Marketing

48
Q

7 drivers of cost advantage

A
  1. EOS
  2. EOLearning
  3. Production techniques
  4. Product design
  5. Input costs
  6. Capability utilization
  7. Residual efficiency
49
Q

What are the 6 common types of KSFs?

A 
STOMMD
Skills (design)
Tech (better)
Other (patents)
Marketing (wide product line)
Manufacturing (EOS)
Distribution (suppliers)
50
Q

7 factors for profitability

A
  1. Macro-environment
  2. Competitive forces
  3. Complements
  4. Driving forces
  5. Market position
  6. Competitive interactions
  7. Strategy - > KSFs
51
Q

4 factors to build a customer profile

A
  1. Geographic
  2. Demographic
  3. Psychographic
  4. Buyer behaviour
52
Q

What are three factors that play into predicting a competitors reaction?

A
  1. Will they react?
  2. What options do they have?
  3. Which option will they choose?
53
Q

What are the 5 elements of a game in game theory?

A 
PARTS
Players 
Added values
Rules
Tactics
Scope
54
Q

What is the difference between a dominant design and technical standards?

A

DD: Features that become a standard. Not always profited from (Betamax vs. VHS)

TS: Introduced. More formal and accepted by others (USB)

55
Q

3 main purposes of SGMs

A
  1. ID rivals
  2. ID attractive positions
  3. Gauge entry

Industry Analysis Project - Norine Webster 2018 (2 decks)

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