| ★ | Lecture 03 - Strategy: Goals

Question 1

What does exploit and explore mean? (2)

Answer 1

Exploit
successfully operating business

Explore
new businesses in the form of new horizons (innovation lab)

Question 2

How do you call organizations that exploit and explore?

Answer 2

Ambidextrous organizations

(Balance zwischen Effizienz und Flexibilität, um sowohl das bestehende Geschäft zu optimieren als auch neue Wachstumschancen zu erschließen - Innovation Lab)

Question 3

Name 4 kinds of needs that are delivered by products and services!

• If possible name 2 examples for each kind of need! (4)

Answer 3

• F unctional: Saves time, makes money
• E motional: Wellness, fun
• L ife changing: Provides hope, motivation
• S ocial impact: Self-transcendence

Question 4

Explain the management difference between

• shareholders
• stakeholder (3) 💛❤️💚

Answer 4

Shareholder
primarily emphasizes maximizing shareholder value.

Stakeholder
striving for a balance of

• social responsibility
• ethical considerations
• financial success

Question 5

Name typical organizations stakeholders (4)

Outline 3 generic stakeholder management strategies (3)

Answer 5

Stakeholder analysis …

• Shareholders/Investors
• Employees
• Customers
• Suppliers

Generic Stakeholder Management Strategies …

• **Communication (Engagement)
• Collaboration (Partnerships)
• Conflict Resolution (Dispute)**

Question 6

Name four kinds of needs that are delivered by products and services? If possible name 2 examples for each kind of need! (4) X

Answer 6

● Social impact: Self-transcendence
● Life changing: Provides hope, motivation
● Emotional: Wellness, fun
● Functional: Saves time, makes money