Strategic Plans and Risk Management Flashcards
Mintzberg’s Ps of strategy
Plan (instructions) Ploy (manoeuvre) Pattern (of behaviour) Position Perspective
Positioning-based view
Identifying opportunities and and developing strategies to take advantage of them
Resource-based view
Strategies are developed based on the capabilities of the business
Strategic analysis
1) external analysis
2) internal analysis
3) corporate appraisal
4) Mission/goal/objectives
5) Gap analysis
Strategic choice
1) Generation
2) Evaluation
3) Selection
Institutional strategies
determines method of growth
Static environment (4Ss)
Static
Single
Simple
Safe
Dynamic environment (4Ds)
Dynamic
Diverse
Difficult
Dangerous
PESTEL
Political Economic Social/demographical Technological Environmental Legal
Brand competitors
similar firms with similar products
Industry competitors
similar products but other differences
Generic competitors
competing for the same disposable income
Form competitors
different products satisfying the same need
Types of responses to competitors
Laid back
Tiger
Selective
Stochastic (unpredictable)
9Ms reviewed in a resources audit
Machinery Make-up Management Management information Markets Materials Men and Women Methods Money
Primary activities
Inbound logistics Operations Outbound logistics Marketing and sales Service
Secondary activities
Procurement
Human resource management
Technology development
Firm infrastructure
Corporate appraisal is also known as a…
SWOT analysis
Gap analysis
desired future performance compared to expected performance
difference is called the profit gap
Cost leadership
producing the lowest cost in the industry
Differentiation
provision of a unique service or product
Focus/niche
restriction of activities to part of the market
