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Strategy#5
| Question | Answer |
|---|---|
| What are characteristics of introduction stage (3) | 1, product little knows 2,only a few customers 3, high costs & low quality |
| What are characteristics of growth stage (5) | 1,sales are growing 2,accelerating market penetration 3,technological improvment 4,increased efficiency 5,industry is ready for the development into the mass market |
| What are characteristics of maturity stage (5) | 1,sales are stagnating or slowly increasing 2,increasing market saturation 3,large portion of demand are replacement purchases 4,competition for market share "softens" 5,mass market-status of industry |
| What are characteristics of decline stage (4) | 1,sales are falling 2,industry is is challanged by new industries that produce better substitutes 3,time for niche strategy, innovation,.. 4,no more investment in curent product |
| What happen with technology & design in introduction stage (4) | 1,product technology advances rapidly 2,there is no dominant product techlogy yet 3,rival technologies compete for attention 4,competition is primarily between alternative technologies & design configuration |
| What happen with technology & design in growth stage (2) | 1,competition between rival designs & technologies reached its peak 2,fight for dominant design is over |
| What happen with technology & design in maturity stage (2) | 1,there is dominant design that lets to technical standart 2,technical standards emerge due to network effects |
| What are characteristics of dominant design (3) | 1,architecture defines look, functionality & production method 2, mostly not protected by intellectual property right 3,standard overall configuration of a product |
| What are characteristics of technical standard (3) | 1,technology or specification that allows compability 2,usually secured by intellectual property right 3,emerge in the face of network effects |
| What happen with technology & design in decline stage | dominant design & technical standard are outdated |
| How long are life-cycle pattern (5) | 1,duration differs 2,some industries never decline (food processing,..) 3,some experience multiple revials (TV,..) 4,some industries converge 5,some fragment (more nieche markets) |
| Do does product differentiation during life cycle looks like (2) | 1,Introduction stage .. wide varienty of products 2, during maturnity phase .. establishing of dominant design & standartization |
| How do organizational demographics & industry structure looks like during different stages of LC (4) | 1,introduction stage .. few pioneering firms 2,growth stage .. rapid increase of firms 3,maturnity stage .. falling number of firms, with possible shoutout phase (increase) 4,decline stage .. short surge in entries again, because of nieche |
| What are KSF for different stages of LC (4) | 1,introduction stage .. product innovation 2,growth stage .. scaling up (growing with market) 3,maturity stage .. KSF is efficiency 4,decline stage .. cost cutting |
| What are 5 challanges in Managing Strategic Change | 1,Organization Ambidexterity 2,Combatting Organizational Inertia 3,Developing New Capabilities 4,Dynamic Capabilities 5,Knowledge Management |
| What is Organizational Ambidexterity (3) | 1,Competing for today while preparing for tomorrow 2,Structural Ambidexterity .. exploration & explotation in seperate units 3,Contextual ambidexterity .. exploration & xplotation in same unit |
| What does Organizational Inertia mean | ability of firm to make internal changes (in the face of significant external changes) |
| What can we combat organization inertia (6) | 1,creating perceptions of crisis (challenging status quo) 2,establishing stretch targets (high performance targets) 3,creating organization iniatives (promotions,..) 4,reoganizing company structure 5,new leadership 6,scenario analysis |
| What are two ways to develop new capabilties | 1,Dynamic capabilities 2,Using knowledge management to develop organizational capabilities (knowing about/ how) |
| How can we develop dynamic capabilities (2) | 1,creating the future 2,using scenarios to prepare for the future |
| What are two knowledges while developing organizational capabilities | 1,Explizit knowledge=knowing about 2,Tacit knowledge=knowing how |
| What are characteristics of explizit knowledge (3) | 1,easy to exploit by firm, but also from rivals 2,public good (everyone can use it) 3,facts, theories & seot of instructions |
| What are characteristics of tacit knowledge (3) | 1,skills expressed throught their performance (riding a bike, playing piano) 2,can only be observe throught its application 3,can be only acquired thought practive |
| How does scenario matrix looks like (3) | 1,two dimension (two main uncerntanities) & positive or negative 2,scenario 10-15 years into the future 3,strategy to each scenario |
| How does scenario planning looks like (4) | 1,Identify key uncertainties that are most likely to relevant & possible outcomes 2,Choose a small number of uncertain factors (mostly two) & small number of possible outcomes for each factor 3,Write down scenarios 4,Strategy for each scenarios |
Created by:
semester1.IBWL
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