Slides Questions Part 1 Flashcards
What are the six critical success factors?
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Why is achieving financial performance important?
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Why is meeting customer needs important?
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Why is gaining employee commitment important?
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Why is building quality products and services important?
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Why is building a distinct competitive advantage important?
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Explain how each of the critical success factors are connected to each other
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What happens to a firm over time if they do not meet all six critical success factors?
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What are the different components of the Diamond-E framework?
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How does each component of the Diamond-E framework connect to each other? How is it affected by each other?
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What is strategy and why is it important?
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What is the principle logic behind the Diamond-E framework and what happens if it is violated?
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What role does the environment play in the Diamond-E? How?
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What are the elements of each factors of the Diamond-E framework?
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How are the elements of the Diamond-E framework connected with PEST factors?
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Give an example of each element of each factor of the Diamond-E framework and explain if it a threat or opportunity
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How does each factors of the Diamond-E framework affect a firm’s ability to achieve any or all of the critical success factors?
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Provide an example of each element that would represent a threat for a particular industry or business and/or an opportunity for another
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Why is Porter’s Five Forces an improvement over previous conceptions of industry profitability?
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What are the five forces of Porter’s Five Forces and what determines the power/effect of each force?
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What impact does each force in Porter’s Five Forces have on industry profitability? Be specific about how the force affects profitability; what kind of costs does it create, or how does it affect revenues?
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What can a firm do to reduce the impact of each of Porter’s Five Factors
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What kind of strategic questions can I answer using Five Forces Analysis
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How does Porter’s Five Forces apply to services?
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What is the benefit of doing a Five Forces Analysis?
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What is doing a Five Forces Analysis challenging? Why do managers resist doing it?
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