TECEP Flashcards
A company’s strategy emerges from a blend of these two factors
1
What is a company’s business model?
1
What are the characteristics of a winning strategy?
1
Why are crafting and executing strategy top priority managerial tasks?
1
What 3 questions distinguish a winning strategy from a flawed one?
1
What are two additional criteria for evaluating a company’s strategy?
1
What are the 4 most frequently used and dependable strategic approaches to earn a competitive advantage?
1
What are the five phases of crafting and executing a company’s strategy?
2
What is a strategic plan composed of?
2
What are the two objectives that need to be set to measure company performance?
2
What does a balanced scorecard do?
2
What are the 3 levels of strategy for a single-business enterprise?
2
What are the 4 levels of a strategy in diversified, multibusiness companies?
2
Describe the typical strategy-making task
2
What phase of strategy management process is a trigger point for deciding whether to continue or change?
2
What are the six things successful managers must do to lead good strategy execution and operational excellence?
2
What are the four main roles of a board of directors?
3
What 7 questions must be asked to assess a company’s external situation?
3
What must be considered in identifying an industry’s dominant features?
3
What five forces compose the strength of competition?
3
What are the two aspects to matching competitive pressures to a company’s strategy?
3
What are the two phases of driving forces analysis?
3
What are the most common driving forces?
3
What areas does a strategic group mapping analyze?
3
What is involved with anticipating rivals’ strategic moves?
3
What are the elements of an industry’s key success factors?
3
What should be the goal of company’s strategists?
3
What determines an industry’s attractiveness?
3
What can a company do if a competitior concludes an industry is unattractive?
3
What is the best option for a competitively weak company in an unattractive industry?
3
What are the five key questions to consider in analyzing a company’s own particular competitive circumstances?
4
What are the elements of evaluating a strategy qualitatively? Quantitatively?
4
What two factors determine a shift of strategy being needed?
4
What does a SWOT analysis provide? What are its two most important parts?
4
Why are a company’s resource strengths, competencies and competitively capabilities strategically relevant?
4
What tools can be used to measure a company’s financial competitiveness?
4
What does a value chain analysis teach?
4
What are the elements of a company’s “worry list”? What is its purpose?
4
What is the benefit of a competently done evaluation of a company’s situation?
4
What must a company do to effectively employ a low-cost provider strategy?
5
When do low-cost provider strategies work well?
5
How do broad differentiation strategies produce a competitive edge?
5
What does successful differentiation allow a company to do?
5
When do differentiation strategies work best?
5
When is a differentiation strategy doomed?
5
What are the elements of a best cost provider strategy?
5
What does a best-cost provider strategy entail?
5
What markets does a best cost provider strategy work in?
5
How does a focus strategy deliver competitive advantage?
5
When does a focused strategy work?
5
What are the benefits of strategic alliances?
6
How can a company’s competitiveness be enhanced via merger or acquisition?
6
When does a vertical integration make strategic sense?
6
What are the drawbacks to vertical integration?
6
When can outsourcing enhance a company’s competitiveness?
6
What are 6 types of industry environments?
6
What 4 situations are advantageous for late-movers?
6
What are 4 strategic issues unique to competing across national boundaries?
7
What are the main strategies for competing in world markets?
7
What are the benefits of strategic alliances with foreign partners?
7
What is the difference between a multicountry and global competition?
7
What are 3 basic options for companies that have chosen to establish international operations?
7
When is a think-local, act-local strategy appropriate? What characterizes this strategy?
7
When does a think-global, act-global approach work best? What characterizes this strategy?
7
When can a think-global,act-local approach be used?
7
What are the three ways a firm can gain competitive advantage in global markets?
7
What are three requirements to be successful in emerging markets?
7
Why is profitability unlikely to come easily or quickly in emerging markets?
7
How can local companies in emerging country markets compete against multinational companies?
7
