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Technology In Organisations > Lecture 4 Strategy > Flashcards

Lecture 4 Strategy Flashcards

1
Q

What is strategy in the context of business?

A

The future direction and actions of a company, focusing on approaches to achieve specific objectives and fundamental choices that align the organization with its strategy.

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2
Q

What does a business model focus on?

A

The value proposition addressing customer needs and delivering economic value.

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3
Q

What is IS/IT strategy?

A

A portfolio of information systems (IS) aligned with business strategy, aimed at creating competitive advantage.
Source: Ward and Peppard, 2002

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4
Q

What does strategic alignment refer to?

A

The process of aligning Information Systems (IS) strategy with business strategy to support and shape business operations.

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5
Q

What is the central question of business alignment in IS/IT strategy?

A

How can IS (strategy) support business strategy?
Example: How can Hema improve customer service using social media like Facebook?

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6
Q

What is Business Impact in IS strategy?

A

How IS can be used to shape and improve an organization’s productivity, competitiveness, and strategy through innovative use.
Example: De Volkskrant’s exploration of iPads and multimedia for their newspaper strategy.

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7
Q

What is a PEST(EL) analysis?

A

A framework for analyzing external factors affecting business strategy: Political, Economic, Social, Technological, Environmental, and Legal.

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8
Q

What are the components of the Political factor in PESTEL analysis?

A

Government policies, leadership changes, foreign trade policies, tax policy, and regulation trends.

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9
Q

What does the Economic factor in PESTEL analysis include?

A

Economic growth, inflation, unemployment rates, disposable income, and the impact of globalization.

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10
Q

What does the Social factor in PESTEL analysis cover?

A

Demographics, consumer attitudes, cultural trends, and population growth.

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11
Q

What does the Technological factor in PESTEL analysis consider?

A

Innovations and technological trends, such as AI, that affect production, distribution, and communication.

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12
Q

What are the Environmental factors in PESTEL analysis?

A

Issues related to sustainability, raw materials scarcity, pollution, and ethical business practices.

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13
Q

What does the Legal factor in PESTEL analysis cover?

A

Laws and policies affecting health, safety, advertising standards, consumer rights, and product safety.

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14
Q

What is Porter’s Five Forces model?

A

A framework for analyzing competitive dynamics within an industry to assess its attractiveness and identify threats and opportunities.

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15
Q

What does the Degree of Existing Rivalry refer to in Porter’s Five Forces?

A

The intensity of competition among current firms, influenced by the number of competitors, growth rates, and product differentiation.

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16
Q

What is the Threat of Potential Entrants in Porter’s Five Forces?

A

The likelihood of new competitors entering the industry, influenced by barriers like startup costs and brand loyalty.

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17
Q

What is the Bargaining Power of Suppliers in Porter’s model?

A

The influence suppliers have over firms, depending on the number of suppliers and the uniqueness of their products.

18
Q

What is the Bargaining Power of Buyers in Porter’s model?

A

The power buyers have over firms, shaped by the number of buyers, product differentiation, and switching costs.

19
Q

What does the Threat of Substitutes refer to in Porter’s model?

A

The risk that alternative products or services could replace the industry’s offerings.

20
Q

What are complements in Porter’s Five Forces?

A

Products or services that enhance the appeal of another product.

21
Q

What are the four competitive strategies in Porter’s model?

A

Cost Leadership
Differentiation
Industry-wide
Focus

22
Q

What is the Cost Leadership strategy in Porter’s model?

A

Competing by being the cheapest in the industry (e.g., Lidl, Aldi).

23
Q

What is the Differentiation strategy in Porter’s model?

A

Competing by offering unique products or services (e.g., Apple).

24
Q

What does the Focus strategy in Porter’s model involve?

A

Focusing on a specific target market rather than a broad industry approach.

25
Q

What are Tracy & Wiersema’s three value disciplines?

A

Product Leadership
Operational Excellence
Customer Intimacy

26
Q

What is the Product Leadership value discipline of Tracy & Wiersema Value Disciplines

A

Focus on creating the best possible products.

27
Q

What is the Operational Excellence value discipline Tracy & Wiersema value disciplines?

A

Focus on minimizing costs and improving efficiency (e.g., Lidl).

28
Q

What is the Customer Intimacy value discipline of Tracy & Wiersema value disiplines

A

Focus on delivering superior customer experiences.

29
Q

What does SWOT stand for?

A

Strengths, Weaknesses, Opportunities, and Threats.

30
Q

What is the purpose of a SWOT analysis?

A

To analyze internal (Strengths, Weaknesses) and external (Opportunities, Threats) factors in a business.

31
Q

What is the Balanced Scorecard used for?

A

A tool for translating strategic objectives into concrete projects, focusing on four pillars: financial, customer, internal processes, and learning & growth.

32
Q

What is McFarlan’s Strategic Grid?

A

A framework for evaluating the strategic importance of IS in an organization.

33
Q

What are the four segments of McFarlan’s Grid?

A

Strategic
Turnaround
Factory
Support

34
Q

What is the Strategic segment in McFarlan’s Grid?

A

IS systems critical for competitive advantage, requiring future investment.

35
Q

What is the Turnaround segment in McFarlan’s Grid?

A

IS systems not crucial now, but future investment could enhance competitive position.

36
Q

What is the Factory segment in McFarlan’s Grid?

A

IS systems essential for operations, but no further investment is expected to improve competitiveness.

37
Q

What is the Support segment in McFarlan’s Grid?

A

IS systems used for cost reduction or efficiency, with no strategic importance.

38
Q

What is stakeholder analysis?

A

A process to identify, evaluate, and prioritize stakeholders based on their interests and influence on the firm.

39
Q

What are the steps in Stakeholder Analysis?

A

Identify stakeholders
Determine interests
Assess influence
Prioritize stakeholders

40
Q

What are the components of a BIS (Business Information Strategy) strategy?

A

Business Information Strategy
IS Functionality Strategy
IT Strategy

41
Q

What are the stages in Nolan’s Six-Stage Maturity Model?

A

Initiation
Contagion
Control
Integration
Data Administration
Maturity

Technology In Organisations (14 decks)

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