Lec 2 Flashcards

1
Q

The main character of input in the congruence model?

A

Input is what the manager can not control.

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2
Q

What are the 3 key points of input?

A
  1. Environment: technological, socio-political, economic, competitive
  2. Resources: Tangible (people, plant, $), Intangible (reputation, knowledge, skills)
  3. History: Past behavior/policies/performance
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3
Q

What do managers have to do to develop a strategy?

A

Scan and monitor the general environment

Gather intelligence about the industry and competitive environment

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4
Q

Name the according analysis for the following points:

  • The general environment
  • The competitive environment
  • Firm situation
A
  • The general environment : Pestle analysis
  • The competitive environment: Porter’s Five Forces
  • Firm situation: SWOT analysis
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5
Q

What does PESTLE stand for?

A
  • Political
  • Economic
  • Social
  • Technological
  • Legal
  • Ecological
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6
Q

5 Forces Analysis for Aldi

A
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7
Q

SWOT analysis?

A
  • Strength
  • Weakness
  • Opportunities
  • Threats
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8
Q

Why does the environment matter?

A

Tools to analyze it and link it to organizational planning and strategy

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9
Q

Common pitfalls?

A
  • Assuming stable industry
  • Confusing substitutes and competitors
  • Fit in one time can mean unfit in another
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10
Q

How does rivalry intensify?

A
  • # of competitors
  • Slow industry growth
  • Lack of differentiation or switching costs
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11
Q

What are barriers to new entrants in a market?

A
  • Economies of scale
  • Product differentiation
  • Access to distribution channels
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12
Q

When do buyer have more bargaining power?

A
  • Concentrated groups
  • Commodity products/services
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13
Q

When do suppliers have more bargaining power?

A
  • Concentrated groups
  • The supplier’s product is an important input to the buyer’s business
  • The supplier group’s products are diffentiated, or it has built up switching costs for the buyer
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14
Q

Threats of substitutes?

A

They limit the potential return of an industry by placing a ceiling on the prices that firms in that industry can profitably charge

The lower the price and the higher the performance of substitutes, the greater the threat

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15
Q
A
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16
Q
A