Week 1 Flashcards
1
Q
Operational effectiveness
A
Performing similar activities better than rivals
2
Q
Strategic positioning
A
Performing different activities from rival’s or performing similar acticities in different ways
3
Q
Porter,1994
A
What is strategy?
4
Q
Why is operational effectiveness not sufficient?
A
- rapid diffusion of new practices
- benchmarking
5
Q
Sources of strategic positions
A
- Variety based positioning
- Needs based positioning
- Access based positioning
6
Q
Trade offs between:
A
- Inconsistencies in image or reputation
- Activities themselves
- Limits on internal coordination and control
7
Q
Fit
A
Locks out imitators by creating a chain that is as strong as it strongest link
8
Q
Types of fit
A
- Simple consistency between activities and strategy
- Activities that reinforce each other
- Optimation of effort
9
Q
Threats to strategy
A
- Trade off is a “weakness”
- Pursuit operational effectiveness is seductive
- Trade-offs and limits constrain growth
10
Q
Best approaches for growth and strategy
A
- Extension of strategy
- Globalization
- Creating business units
11
Q
Controllers major responsibilities
A
- Management service
- Financial reporting and internal control
