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Strategic Management > TECEP > Flashcards

TECEP Flashcards

1
Q

A company’s strategy emerges from a blend of these two factors

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2
Q

What is a company’s business model?

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3
Q

What are the characteristics of a winning strategy?

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4
Q

Why are crafting and executing strategy top priority managerial tasks?

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5
Q

What 3 questions distinguish a winning strategy from a flawed one?

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6
Q

What are two additional criteria for evaluating a company’s strategy?

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7
Q

What are the 4 most frequently used and dependable strategic approaches to earn a competitive advantage?

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8
Q

What are the five phases of crafting and executing a company’s strategy?

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9
Q

What is a strategic plan composed of?

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10
Q

What are the two objectives that need to be set to measure company performance?

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11
Q

What does a balanced scorecard do?

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12
Q

What are the 3 levels of strategy for a single-business enterprise?

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13
Q

What are the 4 levels of a strategy in diversified, multibusiness companies?

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14
Q

Describe the typical strategy-making task

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15
Q

What phase of strategy management process is a trigger point for deciding whether to continue or change?

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16
Q

What are the six things successful managers must do to lead good strategy execution and operational excellence?

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17
Q

What are the four main roles of a board of directors?

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18
Q

What 7 questions must be asked to assess a company’s external situation?

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19
Q

What must be considered in identifying an industry’s dominant features?

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20
Q

What five forces compose the strength of competition?

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21
Q

What are the two aspects to matching competitive pressures to a company’s strategy?

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22
Q

What are the two phases of driving forces analysis?

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23
Q

What are the most common driving forces?

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24
Q

What areas does a strategic group mapping analyze?

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25
Q

What is involved with anticipating rivals’ strategic moves?

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26
Q

What are the elements of an industry’s key success factors?

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27
Q

What should be the goal of company’s strategists?

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28
Q

What determines an industry’s attractiveness?

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3

29
Q

What can a company do if a competitior concludes an industry is unattractive?

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30
Q

What is the best option for a competitively weak company in an unattractive industry?

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3

31
Q

What are the five key questions to consider in analyzing a company’s own particular competitive circumstances?

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32
Q

What are the elements of evaluating a strategy qualitatively? Quantitatively?

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4

33
Q

What two factors determine a shift of strategy being needed?

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34
Q

What does a SWOT analysis provide? What are its two most important parts?

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35
Q

Why are a company’s resource strengths, competencies and competitively capabilities strategically relevant?

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36
Q

What tools can be used to measure a company’s financial competitiveness?

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4

37
Q

What does a value chain analysis teach?

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38
Q

What are the elements of a company’s “worry list”? What is its purpose?

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4

39
Q

What is the benefit of a competently done evaluation of a company’s situation?

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40
Q

What must a company do to effectively employ a low-cost provider strategy?

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41
Q

When do low-cost provider strategies work well?

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42
Q

How do broad differentiation strategies produce a competitive edge?

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43
Q

What does successful differentiation allow a company to do?

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44
Q

When do differentiation strategies work best?

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45
Q

When is a differentiation strategy doomed?

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46
Q

What are the elements of a best cost provider strategy?

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47
Q

What does a best-cost provider strategy entail?

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48
Q

What markets does a best cost provider strategy work in?

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49
Q

How does a focus strategy deliver competitive advantage?

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50
Q

When does a focused strategy work?

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51
Q

What are the benefits of strategic alliances?

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52
Q

How can a company’s competitiveness be enhanced via merger or acquisition?

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6

53
Q

When does a vertical integration make strategic sense?

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6

54
Q

What are the drawbacks to vertical integration?

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6

55
Q

When can outsourcing enhance a company’s competitiveness?

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6

56
Q

What are 6 types of industry environments?

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6

57
Q

What 4 situations are advantageous for late-movers?

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6

58
Q

What are 4 strategic issues unique to competing across national boundaries?

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7

59
Q

What are the main strategies for competing in world markets?

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7

60
Q

What are the benefits of strategic alliances with foreign partners?

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7

61
Q

What is the difference between a multicountry and global competition?

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7

62
Q

What are 3 basic options for companies that have chosen to establish international operations?

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7

63
Q

When is a think-local, act-local strategy appropriate? What characterizes this strategy?

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7

64
Q

When does a think-global, act-global approach work best? What characterizes this strategy?

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7

65
Q

When can a think-global,act-local approach be used?

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66
Q

What are the three ways a firm can gain competitive advantage in global markets?

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7

67
Q

What are three requirements to be successful in emerging markets?

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7

68
Q

Why is profitability unlikely to come easily or quickly in emerging markets?

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7

69
Q

How can local companies in emerging country markets compete against multinational companies?

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7

Strategic Management (1 decks)

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