HRP

Question 1

What are the four kinds of strategy?

Answer 1

Emergent (changes incrementally due to environmental changes)
Intended
Realized
Discarded

Question 2

What term means subtly redirecting strategy to accomodate environmental changes?

Answer 2

Logical incrementalism.

Question 3

What are the three options for corporate strategies?

Answer 3

1. Restructuring
2. Growth
3. Stability

Question 4

What are the four strategies related to restructuring?

Answer 4

1. Turnaround
2. Divestiture
3. Liquidation
4. Bankruptcy

Question 5

Distinguish between a corporate and a business strategy.

Answer 5

A business strategy focuses on one line of business while competitive strategies examine questions about which competitive strategy to choose as a multi-business corporation. Business strategy: build a strong competitive position. Corporate strategy: long-term survival and growth.

Question 6

Describe the Strategic Planning Process

Answer 6

1. Establish MVV
2. Develop objectives
3. Analyze external environment
4. Identify competitive advantage
5. Determine competitive position
6. Implement the strategy
7. Evaluate the performance

Question 7

What criteria must resources and capabilities need to provide a sustained competitive advantage, according to the resource-based view? (4)

Answer 7

1. Valuable
2. Rare
3. Inimitable
4. Organized

Question 8

What are Porter’s five generic competitive strategies?

Answer 8

1. Low-cost provider
2. Broad differentiation
3. Best-cost provider
4. Focused/market niche based on lower cost
5. Focused or market niche based on differentiation