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Strategic Management > FINALS > Flashcards

FINALS Flashcards

1
Q

According to Mintzberg and Quinn, a __________ is the pattern or plan that integrates a nation’s or organization’s major goals, policies and action sequences into a chosen whole

A

Strategy

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2
Q

__________________________ is the way or plan of attaining technological goals and technological changes. These are formulated at the national level and at the enterprise level.

A

Technology Strategy

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3
Q

Externalization-Oriented Strategy. This strategy aims at seeking technological development with an objective to tap external market.

A

Technology Strategy at National level

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4
Q

Under this strategy, there is a restricted role for FDI. This strategy seeks to foster/encourage indigenous technology development i.e., developing domestic technology capabilities in general or in selected strategic industries.

A

Technology Strategy at National level

some examples of this type of strategy are:
1. minority joint ventures (with minor share to foreign collaborator)
2. technological assistance to domestic firms
3. encouraging import of capital goods

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5
Q

According to Bentz, Martino & Mintzberg, this means “a formal set of enterprise intentions that allocates available resources and sets priorities based on clearly stated technological and enterprise objectives and a perceived environment in which the process is to be embedded.

A

Technology Strategy at Enterprise level

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6
Q

re: Factors that influence enterprise’s technology strategy

_________________ : technological leadership can be sustained only if competitors cannot copy it

A

Sustainability of technological lead

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7
Q

re: Factors that influence enterprise’s technology strategy

First mover advantages: enterprise gets many advantages like _____________

A

increased reputation, pre-empting competition, early profits, new sales, etc.

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8
Q

re: Factors that influence enterprise’s technology strategy

First mover disadvantages: certain disadvantages and risks can adversely affect the first mover like _________

A

cost of regulatory approvals, cost of educating buyers, demand uncertainty, low cost imitation by competitors, risk of technological discontinuities of existing technology/products/processes

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9
Q

Based on factor analysis, an enterprise may adopt any of the following technology strategies:

A

Technology leadership strategy
Technology followership strategy

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10
Q

Under this strategy, a firm seeks to be the first to introduce technological changes/innovations

A

technology leadership strategy

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11
Q

A conscious & active strategy, by which a firm chooses not to be first on innovations

A

Technology followership strategy

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12
Q

The ______________________ framework directly influences technology generation in a nation

A

government technology policy

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13
Q

___________ depends upon the technology strategy of the organization/enterprise

A

technology generation

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14
Q

_______________________ sets the direction for technology development in the organization and to some extent also influences technological strategies of competitors as well

A

Technology strategy of the organization

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15
Q

Technology develops through a process of _____________, ___________________, and _______________.

A

Creativity, invention, innovation

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16
Q

re: S Curve of Technology Evolution

What are the 4 major stages in the evolution of performance characteristics?

A
  1. Emergence
  2. Rapid Improvement
  3. Declining Improvement
  4. Maturity
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17
Q

___________________: when the new technology comes into existence, but shows little improvement in its performance characteristics

A

Emergence

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18
Q

_______________: when performance characteristics improve at an accelerating pace

A

Rapid Improvement

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19
Q

________________: when the pace of improvement declines

A

Declining Improvement

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20
Q

______________: when further improvements become very difficult to achieve

A

Maturity

21
Q

Why does the S Churve Shape of Technological Evolution occur?

A
  1. Learning process
  2. Technology limits
  3. Performance of the newer technology is lower than that of the older technology
22
Q

_______________ concerns the selection and management of a mix of businesses competing in several industries or product markets

A

Corporate-level strategy

  • it is the way a company creates value through the configuration and coordination of multi-market activities
23
Q

Why vertically integrate?

A
  1. Market Power (increase revenue)
    - entry barriers
    - down-stream price maintenance
    - up-stream power over price
  2. Efficiency (lower cost)
    - specialized assets & the holdup problem
    - protecting product quality
    - improved scheduling
24
Q

What are the risks in undertaking cooperative agreements or strategic alliances?

A
  1. Adverse selection
  2. Moral hazard
  3. Holdup
25
Q

_________ is when partners misrepresent skills, ability, and other resources

A

Adverse selection

26
Q

_________ is when partners provide lower quality skills and abilities than they had promised

A

Moral Hazard

27
Q

_________ is when partners exploit the transaction specific investment made by others in the alliance

A

Holdup

28
Q

What are motivations for Diversification?

A
  1. Value-Enhancing Motives
  2. Value-neutral Motivations
  3. Devaluate Motivations
29
Q

What are value-enhancing motives

A
  • increase market power (multi-point competition)
  • R&D and new product development
  • Developing new competencies (stretching)
  • transferring core competencies (leveraging)
30
Q

__________ is diversification motivated by poor economic performance in current businesses

A

motivations that are “value neutral”

31
Q

what are motivations that “devaluate”

A
  • agency problem
  • managerial capitalism
  • maximize management compensation
  • sales growth maximization
32
Q

A _________ is a strategy through which two firms agree to integrate their operations on a relatively co-equal basis because they have resources and capabilities that together may create a stronger competitive advantage

A

Merger

33
Q

___________ is a strategy through which one firm buys a controlling or 100% interest in another firm with the intent of using a core competence more effectively by making the acquired firm a subsidiary business within its portfolio

A

Acquisition

34
Q

A ______________ is a type of acquisition strategy wherein the target firm did not solicit the acquiring firm’s bid

A

takeover

35
Q

Attributes of Effective Acquisitions

A

Complementary Assets or Resources
Friendly Acquisitions
Careful Selection Process
Maintain Financial Slack

36
Q

Scenarios where the bidder can do well

A
  1. Luck
  2. Asymmetric Information
  3. Specific-synergies between the bidder and the target
37
Q

Pressures for Local Responsiveness

A
  1. Differences in customer tastes and preferences
  2. Differences in infrastructure and traditional practices
  3. Differences in distribution channels
  4. Host government demands
38
Q

Four Basic Strategies

A
  1. Global Strategy
  2. Transnational Strategy
  3. International Strategy
  4. Multidomestic Strategy
39
Q

_____________ is creating value by transferring competencies and products to foreign markets where indigenous competitors lack those competencies and products

A

International Strategy
- makes sense if a company has a valuable competence that indigenous competitors in foreign markets lack and if it faces weak pressure for local responsiveness and cost reductions

40
Q

____________ is developing a business model that allows a company to achieve maximum local responsiveness

A

Multidomestic Strategy
- makes sense when there are high pressures for local responsiveness and low pressures for cost reductions
- companies may become too decentralized and lose the ability to transfer skills and products

41
Q

____________ is focusing on increasing profitability by reaping cost reductions that come from experience curve effects and location economies; pursuing a low-cost strategy on a global scale

A

Global Strategy
- makes sense where there are strong pressures for cost reductions and demand for local responsiveness is minimal

42
Q

___________ is simultaneously seeking to lower costs, be locally responsive, and transfer competencies in a way consistent with global learning

A

Transnational Strategy

43
Q

Choice of Entry Mode

A
  1. Exporting
  2. Licensing
  3. Franchising
  4. Joint ventures
  5. Wholly-owned subsidiaries
  6. Choosing among Entry Modes
44
Q

__________________ is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

A

Corporate Social Responsibility
- also called corporate citizenship

45
Q

Types of CSR

A
  1. Philanthropic Responsibility
  2. Ethical Responsibility
  3. Legal Responsibility
  4. Economic Responsibility
46
Q

_______________ is the system of rules, practices, and processes which a firm is directed and controlled. It essentially involves balancing the interests of a company’s many stakeholders, such as shareholders, senior management executives, customers, suppliers, financiers, the government, and the community.

A

Corporate Governance

47
Q

___________ refers specifically to the set of rules, controls, policies, and resolutions put in place to direct corporate behavior. A board of directors is pivotal in _______________.

A

Governance

48
Q

Corporate Governance Models

A
  1. Anglo-Ameriacan Model
  2. Continental Model
  3. Japanese Model

Strategic Management (1 decks)

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