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Strategic Management > Strategic Management > Flashcards

Strategic Management Flashcards

1
Q

What strategies tend to be bottom-up?

A

Emergent Strategies

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2
Q

The “threat of participation” is NOT a part of what framework?

A

Porter’s Five Forces Framework

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3
Q

A company’s mission is….

A

The reason for existence of the company

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4
Q

When should you use an industry analysis?

A

To improve a firm’s positioning within an industry.
To identify a suitable positioning for the firm
To identify an industry for entry

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5
Q

What assertions are a source of First Mover Advantage?

A

Buyer switching costs
Technological leadership
Preemption of assets

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6
Q

When a resource is hard to copy it is….

A

Strategically Valuable

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7
Q

In VRIO, I stands for…

A

Costly to imitate

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8
Q

SWOT allows you to…

A

apply VRIO to determine strengths and weaknesses

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9
Q

What are the threats of outperformance?

A

Slack,Imitation, Substitution, Holdup

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10
Q

Value Chain Analysis allows you to…

A

A. Identify operational bottlenecks
B. Identify competitive advantages
C. Identify social costs

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11
Q

What strategy can be used by any organization regardless of industry context?

A

Generic Strategy

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12
Q

Two examples of cost drivers in value chains are?

A

Learning and linkages

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13
Q

How do firms achieve and sustain competitive advantage?

A

Provide a great offering and execute well the processes and activities that deliver the offering

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14
Q

What is a Complementor in Value Net Analysis?

A

Complementor adds value to your product and without it, your product is worth less.

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15
Q

What is the fundamental question of cooperative interaction?

A

How can I work with others to make the pie bigger?

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16
Q

A vertical added value matrix between the parent company and it’s business is called?

A

The Heartland Matrix

17
Q

What is the Growth-share matrix?

A

A business to business matrix analysis. Cash Cow, Dogs, Stars, Question Marks

18
Q

Risk-taking is NOT

A

A motive for diversification

19
Q

What are motives for diversification?

A 
Economy of Scope
Growth
Parenting advantage
Risk Reduction
Strategic control
20
Q

Strategies for Unrelated Diversification

A

Portfolio Management

Restructuring

21
Q

Strategies for Related Diversification

A

Transferring skills

Sharing activities

22
Q

A “Ballast” business in Heartland Matrix is?

A

a firm does NOT see a parenting opportunity for improving the business, but may get its success factors.

23
Q

When is it best to favor an alliance over an acquisition?

A

When a collaboration’s outcome is highly uncertain.

24
Q

Why do markets assign lower values to conglomerates that engage in business outside of their core values?

A

Those conglomerates are more difficult to monitor

The economies of scope are frequently smaller than the additional coordination costs

25
Q

Due diligence for an acquisition is usually done on what issues?

A

Investment
Financial Tax
Legal
IT

26
Q

What are some drivers of alliances?

A

Strengthen competitive position
Access complementary assets
Hedge against uncertainty
Enter new markets

27
Q

Learning races are considered a risk in what activity?

A

Alliances

28
Q

Three types of strategies to create and capture value abroad?

A

Deployment Strategy
Deepening Strategy
Development strategy

29
Q

Development Strategy

A

Obtain new capabilities that increase willingness to pay or decrease cost.

30
Q

Deepening Strategy

A

Use existing capabilities to increase willingness to pay or decrease costs

31
Q

Deployment Strategy

A

Increase scale and maintain willingness to pay and costs

32
Q

What do organization need to know when assessing whether to enter new geographic markets?

A
  1. The implication of any adjustments of its business model
  2. Which parts of the business model can be adjusted to fit new environments
  3. Which environmental traits its business model cannot function without
33
Q

What is the paradox of being consistent?

A

A situation in which organizations with the greatest advantage at home are often the most likely to fail when expanding globally.

34
Q

What type of market is Greenfield entry best for?

A

Emerging and fragmented

35
Q

What type of market is acquisition/partnership best suited for?

A

Mature markets with strong players

Strategic Management (1 decks)

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