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BTF > Strategic Plans and Risk Management > Flashcards

Strategic Plans and Risk Management Flashcards

1
Q

Mintzberg’s Ps of strategy

A 
Plan (instructions)
Ploy (manoeuvre)
Pattern (of behaviour)
Position 
Perspective
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2
Q

Positioning-based view

A

Identifying opportunities and and developing strategies to take advantage of them

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3
Q

Resource-based view

A

Strategies are developed based on the capabilities of the business

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4
Q

Strategic analysis

A

1) external analysis
2) internal analysis
3) corporate appraisal
4) Mission/goal/objectives
5) Gap analysis

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5
Q

Strategic choice

A

1) Generation
2) Evaluation
3) Selection

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6
Q

Institutional strategies

A

determines method of growth

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7
Q

Static environment (4Ss)

A

Static
Single
Simple
Safe

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8
Q

Dynamic environment (4Ds)

A

Dynamic
Diverse
Difficult
Dangerous

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9
Q

PESTEL

A 
Political
Economic
Social/demographical
Technological
Environmental
Legal
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10
Q

Brand competitors

A

similar firms with similar products

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11
Q

Industry competitors

A

similar products but other differences

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12
Q

Generic competitors

A

competing for the same disposable income

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13
Q

Form competitors

A

different products satisfying the same need

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14
Q

Types of responses to competitors

A

Laid back
Tiger
Selective
Stochastic (unpredictable)

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15
Q

9Ms reviewed in a resources audit

A 
Machinery
Make-up
Management
Management information
Markets
Materials
Men and Women
Methods
Money
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16
Q

Primary activities

A 
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service
17
Q

Secondary activities

A

Procurement
Human resource management
Technology development
Firm infrastructure

18
Q

Corporate appraisal is also known as a…

A

SWOT analysis

19
Q

Gap analysis

A

desired future performance compared to expected performance

difference is called the profit gap

20
Q

Cost leadership

A

producing the lowest cost in the industry

21
Q

Differentiation

A

provision of a unique service or product

22
Q

Focus/niche

A

restriction of activities to part of the market

BTF (17 decks)

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