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BST > Strategic Options > Flashcards

Strategic Options Flashcards

1
Q

Gap Analysis

A

comparison between co objective and expected performance

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2
Q

Three types of strategic options

A

~ Competitive strategy
~ Product/market strategy
~ Development strategy

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3
Q

Competitive strategy

A

firm seeks to win customers and secure profit against rivals (using generic strategies)

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4
Q

Product/market strategy

A

what products to offer and markets to serve (using Ansoff + product-market growth matrix)

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5
Q

Development strategy

A

how to gain access to chosen products and markets

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6
Q

Generic strategies

A

~ cost leadership
~ cost focus
~ differentiation
~ differentiation focus

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7
Q

Cost Leadership

A

~ low cost

~ broad competitive scope

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8
Q

Cost Focus

A

~ low cost

~ narrow competitive scope

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9
Q

Differentiation

A

~ differentiation

~ broad competitive scope

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10
Q

Differentiation Focus

A

~ differentiation

~ narrow competitive scope

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11
Q

Ansoff’s Product-Market Growth Matrix

A

~ market penetration
~ product development
~ market development
~ diversification (related or unrelated)

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12
Q

Market penetration

A

Current market

Current product

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13
Q

Product development

A

Current market

New product

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14
Q

Market development

A

New market

Current product

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15
Q

Diversification

A

New market
New product
~ related or unrelated

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16
Q

Related diversification

A

vertical or horizontal integration

e.g. buy similar companies or suppliers

17
Q

Unrelated diversification

A

conglomerate diversification

e.g. successful business buys football club

18
Q

Withdrawal may be appropriate if…

A

~ products disappear at end of life cycle
~ weed out underperforming products
~ sale of sub/asset to raise finance

19
Q

Exit barriers to withdrawal are…

A

~ Cost barriers: redundancy, termination penalties (leases)
~ government attitudes
~ managers hate to admit failure
~ people might wrongly assume carrying on is a low risk strategy

20
Q

Reasons to divest and dismerge

A

~ free up management time
~ sell of sub at a profit
~ raise funds
~ satisfy investors

BST (14 decks)

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