Intro to Strategy Flashcards
1
Q
Common Elements of Strategies
A
1) Vision
2) Analysis
3) Implementation
2
Q
Levels of Strategy
A
1) Corporate
2) Business
3) Operational
3
Q
Two Perspectives of Strategy
A
- Design perspective: Traditional, top-down strategic
planning - Emergent perspective: Adjustments to strategy driven
by unforeseen changes in market
4
Q
Why we need strategy
A
- Decision Support
- Target
- Coordinating Device
5
Q
Corporate Level of Strategy
A
Scope of what industries to compete in
6
Q
Definition of Business Level of Strategy
A
How to establish a competitive advantage
7
Q
Definition of Operational Level strategy
A
Strategy that deals with parts of the organization (marketing, finance, etc)
8
Q
Why do firms need strategy
A
1) Decision Support
2) Target
3) Coordinating device
