Strategic analysis 2024 questions and
answers
What three ways can be used to strengthen an org's value chain? -
✔✔1) Outsourcing;
2) Automation;
3) Shared service centres.
What factors are important when considering whether to outsource a
process? - ✔✔- firm's competence in carrying out the activity by itself;
- whether risk can be managed better by outsourcing (e.g. shifting legal
liability away);
- whether activity could be assured and controlled through a contract;
- whether organisational learning / intellectual property is being
transferred to the third party.
How can an org analyse how its business processes should be
enhanced/managed? - ✔✔Harmon's process-strategy matrix
What are the elements of Harmon's process-strategy matrix? -
✔✔Strategic importance vs process complexity/dynamic:What is the
definition of 'strategy'? - ✔✔Direction and scope over the long term,
which achieves strategy through configuration of resources in a
changing environment, to meet needs of market and fulfil stakeholder
expectations.
,What is the definition of 'corporate strategy'? - ✔✔Organisation's basic
direction for the future, purpose, ambitions, resources, how it interacts
with the world in which it operates.
What are the three levels of strategy within an organisation? - ✔✔1)
Corporate strategy (business as a whole);
2) Business strategy (determine competitive strategy and how
advantage over competitors can be achieved);
3) Functional strategy (how each function delivers strategies
determined and corporate and business levels).
What is a strategic business unit? - ✔✔Section within a larger business
which plans, develops, produces, and markets its own
products/services.
What makes planning strategic? - ✔✔- covers the long term;
- considers the whole organisation (goal congruence);
- considers resources and external environment;
- considers all stakeholders (internal and external);
- considers how to gain competitive advantage.
What are the benefits of strategic planning? - ✔✔- provides framework;
- encourages long-term planning;
- goal congruence;
, - considers needs of stakeholders;
- optimized use of resources;
- considers changes in business environment;
- monitors progress and enables milestones.
What are the criticisms of strategic planning (Mintzberg)? - ✔✔-
practical failure (lack of evidence that it succeeds);
- slow/bureaucratic (not dynamic enough to respond to problems);
- too formal so reduced strategic thinking;
- political infighting can disrupt process.
What are the three main processes to the rational planning model? -
✔✔1) Strategic analysis;
2) Strategic choice;
3) Strategy implementation.
How does the rational / traditional / prescriptive approach to strategic
planning operate? - ✔✔TOP-DOWN:
1) Internal & external ANALYSIS (SWOT);
2) Corporate appraisal;
3) Mission & objectives;
4) GAP;
answers
What three ways can be used to strengthen an org's value chain? -
✔✔1) Outsourcing;
2) Automation;
3) Shared service centres.
What factors are important when considering whether to outsource a
process? - ✔✔- firm's competence in carrying out the activity by itself;
- whether risk can be managed better by outsourcing (e.g. shifting legal
liability away);
- whether activity could be assured and controlled through a contract;
- whether organisational learning / intellectual property is being
transferred to the third party.
How can an org analyse how its business processes should be
enhanced/managed? - ✔✔Harmon's process-strategy matrix
What are the elements of Harmon's process-strategy matrix? -
✔✔Strategic importance vs process complexity/dynamic:What is the
definition of 'strategy'? - ✔✔Direction and scope over the long term,
which achieves strategy through configuration of resources in a
changing environment, to meet needs of market and fulfil stakeholder
expectations.
,What is the definition of 'corporate strategy'? - ✔✔Organisation's basic
direction for the future, purpose, ambitions, resources, how it interacts
with the world in which it operates.
What are the three levels of strategy within an organisation? - ✔✔1)
Corporate strategy (business as a whole);
2) Business strategy (determine competitive strategy and how
advantage over competitors can be achieved);
3) Functional strategy (how each function delivers strategies
determined and corporate and business levels).
What is a strategic business unit? - ✔✔Section within a larger business
which plans, develops, produces, and markets its own
products/services.
What makes planning strategic? - ✔✔- covers the long term;
- considers the whole organisation (goal congruence);
- considers resources and external environment;
- considers all stakeholders (internal and external);
- considers how to gain competitive advantage.
What are the benefits of strategic planning? - ✔✔- provides framework;
- encourages long-term planning;
- goal congruence;
, - considers needs of stakeholders;
- optimized use of resources;
- considers changes in business environment;
- monitors progress and enables milestones.
What are the criticisms of strategic planning (Mintzberg)? - ✔✔-
practical failure (lack of evidence that it succeeds);
- slow/bureaucratic (not dynamic enough to respond to problems);
- too formal so reduced strategic thinking;
- political infighting can disrupt process.
What are the three main processes to the rational planning model? -
✔✔1) Strategic analysis;
2) Strategic choice;
3) Strategy implementation.
How does the rational / traditional / prescriptive approach to strategic
planning operate? - ✔✔TOP-DOWN:
1) Internal & external ANALYSIS (SWOT);
2) Corporate appraisal;
3) Mission & objectives;
4) GAP;
