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Strategy#1
| Question | Answer |
|---|---|
| What are 4 key ingredients of a successful strategy | 1,clear,consistent, long-term goals 2,understanding of the competitive environment 3,objective appraisal(hodnoceni) of resources 4,their effective implementation |
| What are elements of strategy characteristics (4) | 1,long-term goals ... goals & values 2,objective resource appraisal ..resource & capabilities 3,Effective implementation .. Structure & systems 4,understanding com.petitive enviroment .. competitors ,customers,suplliers |
| What is basic framework for strategy analysis (3&3) | The Firm analysis 1,Goals & Values 2,Resources & Capabilities 3,Structure & Systems The Industry Environment 1,Competitors 2,Customers 3,Suppliers |
| What is the role of strategy analysis (4) | 1,improves decition,doesnt give answers 2,identify & help understandding main issues 3,helps manage complexity 4,support learning processes (improves flexibility&innovations) |
| What do we use for strategy analysis & what are its limitation | SWOT-Analysis not always is it clear if we speak, about strengths or weaknesses |
| What are 4 questions to challenge a strategy | 1,Where do we compete? (markets,industries,regions) 2,What unique value do we bring? (cost x differentiation) 3,What resources & capabilities do we utilize? (HR, tagibles,untagibles) 4,How do we sustain our unique value? (barriers to imitation) |
| What are key questions & responsibility of 1,Corporate strategy 2,Business strategy | 1,Corporate strategy Key question= Where to compete Responsibility=Top management team 2,Business strategy Key question=How to compete Responsibility=Divisional management |
| What are these strategy used for 1,Corporate strategy (5) 2,Business strategy (1) | 1,Corporate strategy industry, products, customers,geographical scope, vertical scope 2,Business strategy basis for competitive advantage |
| What is the main question when developing both types of strategy | Is Rate of profit above the cost of capital? |
| What are 2 uses of strategy | Strategy as Positioning...Competing for the present Strategy as Direction..Preparing for the future |
| What are dimension of Eisenhower Matrix for tast priorizitation | Urgent / Not urgent Important / Not important |
| What should we do with fields in Eisenhower matrix (4) | 1, Important+Urgent= DO it now 2,Important+Not Urgent= DECIDE when to do it 3,Not Important+Urgent= DELEGATE who can do it for you 4,Not Important+Not Urgent=DELETE |
| How should strategic plan look like (4) | 1,Planning horizons of 2-5 years 2,Summarizing specific actions to establish & achiebe performance goals 3,Corporate & Business priorities 4,Strategic milestones |
| How do we implement strategic plan (3) | 1,Action (operation plan) 2,Motivation & Accountability (throught performence management) 3,Resource allocation (throught capital budgeting) |
| What are transactional costs (4) | 1,costs of negotiation 2,costs of discovering the relevant prices 3,costs of setting up contracts 4,costs of monitoring & enforcing terms of condition |
| Why do market exist (3) | 1,larger firm may have decreasing returns to enterpreneur function 2, Administrative costs may rise 3,with more transaction, risk of not meeting best condition sinks |
| When should enterpreneurs coordinate (3) | 1, may avoid certrain costs 2,managers act more efficiently than market mechanism 3,there is uncertainty |
| When should market mechanism coordinate (3) | 1,firms become too big, too diverse 2,managerial mistakes increase 3,there is perfect information/certainty |
| Why do firm exists (3) | 1,Efficiency advantages in producion good & services (Specialization & Division of Labor) 2,Cooperation problems 3,Coordination problems |
| What are cooperation problems (3) | 1, Controll of indiviaduals (supervision) 2,Performance incentives ($/Output) 3,Shared values |
| What are coordination problems (3) | 1,Information exchange problems 2,harmonization of individuals & their activities 3,Rules. routines,.. |
| What are hierarchies (3) | 1, tool to achieve specialization, coordination & cooperation 2,hierarchy as mechanism for cooperation=bureacracy 3,hierarchy as mechanism for coordination=modularity (organized components) |
| What are 3 types of hierarchies | 1,Functional 2,Multidivisional 3,Matrix |
| What are Functional structure characteristics (4) | 1,high degree of centralized control at the top of the firm 2,single-business firm (e.g. Airlines) 3,grouping of similiar tasks to exploit economies of scale, learning curve & capability building 4,cross-functional integration becomes necessary |
| What are Multidivisional structure characteristics(3) | 1,divisions are seperate businesses (by product or geography) 2,divisions have high degree of autonomy regards to eprating decisions 3,advantage: common set of corporate management tools to divisions, while their autonomy remain |
| What are Matrix structure characteristics (3) | 1,multiple products, multiple functions & multiple locations must be coordinated 2,coordination across all three dimension 3,usually there is one dominant dimension |
| What are 4 main disadvantages of matrix structure | 1,lack of accountability 2,overlapping responsibilities 3,excessive complexity 4,slower decision making |
| What are 5 trends in organizational design | 1,Delayering 2,Adhocracy & team-based organizations 3,Project-based organization 4,Networks 5,The Humanistic Company |
| What are characteristics of Delayering (3) | 1,flattering of hierarchial structures 2,reduction of costs 3,increase of organizational responsiveness |
| What are characteristics of Adhocracy & team-based organizations (3) | 1,spontaneos coordination 2,high level of participation 3,almost complete absent of hierarchy, authority & control mechanism |
Created by:
semester1.IBWL
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