MGMT3003 Flashcards
4 KEY ATTRIBUTES OF STRAT. MAN
- Direct org towards goals and obj.
- Include multiple stakeholders in decision making.
- Incorporate short-term and long-term perspectives.
- Recognize trade-offs between efficiency and effectiveness
Ambidextrity
both take advantage of current market AND exploring new opportunities.
INTENDED Strategies
Along the way there are new opportunities, that bring EMERGENT Strategies , and end up with REALIZED strategy.
How many kinds of Strategies? (5)
STRATEGY ANALYSIS, STRATEGY FORMULATION
BUSINESS-LEVEL STRAT: Cost leadership, differentiation and focusing
CORPORATE-LEVEL STRAT Through portfolio
INTERNAL STRAT:
GOVERNANCE
relationship between participants in determining direction and performance,
Board of Directors
BOD: elected representatives of the owners, ensure that interests of management align with those of the owners.
3 mechanism ensure corp gov
- Effective and Engaged BOD
- Shared Activism
- Proper managerial incentives and rewards.
2 Views of Stakeholders management:
- ZERO SUM GAME: one wins one loses attention and resources.
- SYMBIOSIS: Stakeholders dependent upon each other, mutual benefits, win-win, crowdsourcing.
SOCIAL RESPONSIBILITY:
go beyond sole profit. shared value. triple bottom line: Financial, social and environmental performances
HIERARCHY OF GOALS:
TOP BOTTOM and VISION
How to Forecast? (3)
ENCIRONMENTAL SCANNING, ENV. MONITORING, COMPETITIVE INTELLIGENCE (Collect data and interpret from inside and outside)
Steps to Analysis ( 4 )
- ENV. FORECAST
- ESCENARIO ANALYSIS
- SWOT ANALYSIS.
- GENERAL ENV. ANALYSIS (6)
PORTER 5 MODELS OF INDUSTRY COMPETITION
- THREAT OF NEW ENTRANTS
- BARGAINING POWER OF BUYERS
- BARGAINING POWER OF SUPPLIERS
4.THREAT OF SUBSTITUTES - INTENSITY OF RIVALRY AMONG COMPETITORS
Value chain analysis? (2 activities )
Primary activities and support activities
PRIMARY ACTIVITIES
Inbound logistics
Operations
Outbound Logistics
Marketing and sales
Service
SUPPORT ACTIVITIES
Procurement
Tech development
Human Resources
General Administration
RBV resourced based view
Interal and external analysis of the resources. Resources can lead to competitive advantages
How many resources (3) and qualities?
Resources should be valuable, rare, hard to imitate.
1. Tangible
2. Intangible
3. Company Capabilities
How to sustain Competitive Advantage? (4)
1- resource must be valuable, exploite opportunities and avoid threats
2- must be rare among competitors
3- difficult to imitate
4- must have no strategically equivalent substitutes
Balanced Scorecard /Stakeholder Perspective naplan & norton
customer perspective) (internal perspective. innovation & learning perspective. financial perspective
achieve competitive advantage?? Porter’s three generic strategies:
- overall cost leadership
- differentiation
- focus
Industry life cycle
Introduction, growth, maturity, decline(after decline use turnaround strat. to harvest profits and consolidate portfolio
