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Development of Strategy - Nov 2021 > Weak Areas > Flashcards

Weak Areas Flashcards

1
Q

Chapter 10

What are Johnson’s three factors of strategic choice?

A

Business strategy - current position
Strategy methods - used to achieve strategy
Strategic direction - chosen direction of products and markets

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2
Q

Chapter 10

What are the four quadrants of Ansoff’s product matrix?

A

Market penetration
Market development
Product development
Diversification

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3
Q

Chapter 10

List 2 business level strategies and 3 corporate level strategies.

A

Business level

  • Business process re-engineering
  • Porter’s generic strategic choices

Corporate level

  • Blue ocean
  • Corporate parenting
  • Portfolio analysis
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4
Q

Chapter 11

What are the three “key evaluation criteria” for assessing strategy success?

A

Suitability
Acceptability
Feasibility

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5
Q

Chapter 13

Who developed the balanced scorecard approach and what are its four perspectives?

A

Kaplan &Norton (1992)

Customer perspective
Internal business perspective
Financial perspective
Innovation and learning perspective

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6
Q

Chapter 10

What are the two axis of Porter’s generic strategic options model?

A 
Competitive advantage (cost vs differentiation)
Competitive scope (broad vs narrow)
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7
Q

Chapter 10

In Porter’s cost leadership model, what 4 key drivers did Johnson suggest need to be considered?

A

Input costs
Economies of scale
Experience
Design

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8
Q

Chapter 10

In Porter’s differentiation model, what 3 key drivers did Johnson suggest need to be considered?

A

Product and service attributes
Customer relationships
Complements

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9
Q

Chapter 10

In Porter’s organisational focus model, what 3 key drivers did Johnson suggest need to be considered?

A

Identification of a distinct segment need
Identification of distinct segment value chains
Identification of a viable market segment

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10
Q

Chapter 3

What are shoemaker’s 6 essential skills for effective leadership?

A 
Anticipate
Challenge
Interpret
Decide
Align
Learn
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11
Q

Chapter 3

What are the three elements of John Adair’s action centred leadership?

A

Individual
Group
Task

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12
Q

Chapter 3

Senge described a “learning organisation”. What are the 5 stages of this model?

A
  • Personal mastery
  • Mental models
  • Shared vision
  • Team learning
  • Systemic thinking
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13
Q

Chapter 1

When discussion organisational purpose, we can use several models to discuss mission - name four.

A

Maccoby strategic intelligence
Johnson’s role of mission
The Ashridge mission model
McKinsey 7S framework

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14
Q

Chapter 8

What are the 6 elements that Maccoby suggests could be used to derive meaning from mission?

A 
Survival
Relatedness
Play
Information
Dignity
Mastery
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15
Q

Chapter 8
What are the four elements of the Ashridge Mission Model that can be used to determine the core drivers behind organisational mission?

A

Purpose (Why?)
Values (Who and what?)
Strategy (When and where?)
Standards and behaviors (How?)

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16
Q

Chapter 8
The McKinsey 7S framework can be used to challenge and understand organisational mission. What are the hard and soft elements of the model?

A

Hard:
- Strategy
- Structure
Systems

Soft:

  • Skills
  • Staff
  • Style
  • Shared values
17
Q

Chapter 6

What three models can be used to understand organisational culture?

A

Harrison & Handy’s cultural types
Deal & Kennedy’s organisational cultures
Johnson’s cultural web

18
Q

Chapter 6

What are the four phases of strategic drift identified by Johnson?

A

Incremental strategic change - slowly adapting to a changeing environment

Strategic drift - An increasing gap developing between the organisation’s strategy and external environment.

Flux - vying to fill the gaps that have occured during strategic drift

Transformation or death - either a resolution is reached, or the organisation ceases to exist.

19
Q

Chapter 6

What are the 6 cultural aspects identified in Johnson’s cultural web?

A
  • Rituals and routines
  • Stories
  • Symbols
  • Control systems
  • Power structures
  • Organisational structures
20
Q

Chapter 6

What are the 4 types of cultural in Harrison & Handy’s cultural types?

A
  • Role
  • Task
  • Power
  • Person
21
Q

Chapter 5

What are the 4 support activities and 5 primary activities in Porter’s value chain analysis?

A

Support:

  • Firm infrastructure
  • Human resources
  • Technology development
  • Procurement

Primary:

  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
22
Q

Chapter 4

Ringland (2014) set out 7 dimensions to be considered during scenario planning. What were these?

A 
Vital issues
Positive outcome
Negative outcome
Internal systems
Key learnings
Key decisions
Personal dimension
23
Q

Chapter 5

Carter (1999) set out 4 types of person - what were these, based on their energy and attitude?

A

Cynic
Spectator
Player
Walking dead

24
Q

Chapter 7

What is Principle B of the UK Corporate Governance Code?

A

The board should establish the company’s purpose, values and strategy, and satisfy itself that
these and its culture are aligned. All directors must act with integrity, lead by example and
promote the desired culture.

25
Q

Chapter 3

Who developed “action centred leadership”?

A

John Adair

26
Q

Chapter 9

What are the four stages of Caroll’s CSR pyramid?

A
  • Philanthropic responsibility
  • Ethical responsibility
  • Legal responsibility
  • Economic responsibility
27
Q

Chapter 9

Johnson produced a matrix of different CSR approaches. What were the 4 categories?

A

Laissez faire - compliance and profit
Enlightened self interest - good business
Stakeholder interaction - sustainability
Shaper of society - social and market change

28
Q

Chapter 3

What are the basic strategic actions that a Board must consider when setting strategy?

A

Analysis
Determine strategic direction
Mapping the route
Communicating the strategy

29
Q

Chapter 12

Robbins & Judge provided 6 key elements to consider when determining organisational structure. What were these?

A 
Specialisation
Departmentalisation
Chain of Command
Span of control
Levels of centralisation
Formalisation

Development of Strategy - Nov 2021 (79 decks)

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