Session 1: Strategy Flashcards
1
Q
Why is strategy important?
A
- Motivates people
- Improves value creation and business performance
- Defines and builds competitive advantage
2
Q
Strategy theorys
A
- Resource-based view (RBV)
- Market-based view
3
Q
Resource-based view (RBV)
A
• Internal perspective: Firm success = function
• Resources:
– what a firm owns and can do
Internal: Stengths, Weaknesses
4
Q
Market-based view
A
- External perspective: Firm success = function (environment)
- Competitive advantage can be achieved by Cost leadership
External: Opportunities, Threats
5
Q
Matrix: Wettbewerbsumfang / Wettbewerbsvorteil
A
- Preisführerschaft, Differenzierung, Preisfokus, Differenzierungsfokus
6
Q
Stuck in the middle
A
ROI / Market Share
Niche market vs. Mass Market
7
Q
Operational effectiveness vs. Strategic Positioning
A
Operational effectiveness is not strategy
Operational effectiveness: Doing things better
Strategic Positioning: Doing things differently to deliver superior value
8
Q
What creates a succesful strategy?
A
- A unique value propostion
- A distinctive value chain emobying choices about how the organization will operate differently to deliver its uniqueness
9
Q
Definition des Wertebeitrages - A unique value propostion
A
- What customers?
- Which needs?
- Which relative price?
