topic 3 Strategy, Entities and Structures Flashcards
what dose VIRO stand for
Valuable capabilities
Imitability
Rarity
Organisation
what are Three
Levels of
Strategy
- Corporate-level strategy
- Business-level strategy
- Operational strategies
what is valuable capabilities
any positive impacts is a valuable capabilities/ Ikea using fast goring wood, which is cheaper- focus on change in revenues and costs
what is Rarity
an exceptional or uncommon capability in a firm can lead to competitive advantage. i.e. (Steve jobs)
what is Imitability
it refers to whether a company can copy the valuable resources or capabilities held by competitors
what is Organization
it summaries location, knowledge, the right policies, control system and procedures.
examples of Strategy Formulation
The Rationalist School- this is when a business’ needs to match its strengths and weaknesses which derive from its resources
and competencies with the needs of its business environment.
what is Corporate-level strategy
looks at the business in its industry
what is business level strategy
its how the individual business should compete in their individual markets
what is Operational strategies
how components may deliver the other strategies
type of strategic tools(MACRO)
- PESTLE
- Yip’s Global Drivers
type of strategic tools(MICRO)
- VIRO
- SWOT
types of Industry & market Analysis tools
Porter’s Five Forces
Porter’s Generic Strategies
Ansoff’s Matrix
