BPL 5100 Study guide for midterm Exam |
Verified
Strategy Analysis - ✔✔Study of a firms' external and internal environments, and their fit with
organization vision and goals
Strategy Formulation - ✔✔decisions made by firms regarding investments, commitments,
and other aspects, of operations that create and sustain competitive advantage.
Strategy Implementation - ✔✔actions made by firms that carry out the formulated strategy,
including strategic controls, organizational design, and leadership.
-Designing organizational structure
-Designing control systems
-Market and output controls
-Bureaucratic controls
-Control through organizational culture
-Rewards and incentives
-Matching strategy, structure,
and controls
-Congruence (fit) among strategy,
structure, and controls
Strategic managers for all levels - ✔✔Corporate -CEO, board of directors, corporate stuff
Business Level - Divisional managers
Functional Level- functional managers, business functions
, Corporate governance - ✔✔the relationship among various participants in determining the
direction and performance of corporations. The primary participants are the shareholders, the
management, the board of directors
Secondary goals - ✔✔Are objectives to be attained that lead to superior performance.
Mission - ✔✔set out why the organization exist and what should it be doing .
vision - ✔✔Is a shared vision that reduces daily monotony, provides opportunity & Challenge
BUSINESS LEVEL (ways to overcome 5 forces) - ✔✔-Overall Cost leadership
Attaining, then using the lowest total cost basis as a competitive advantage. (cons: too much
focus on an activity, increase in the cost of inputs, easily imitated, reduce flexibility)
-Differentiation
Using product features or services to distinguish the firm's offerings from its competitors. (cons:
uniqueness is not valuable, too much differentiation, expensive prdct).
-Focus Strategy:s strategy to appeal to a narrow market segment within an industry. (cons:
erosion of cost adv., competition)
SWOT - ✔✔Weaknesses (1. Snapshot, 2. A strength may not be a competitive adv. 3.
temporary 4. Starting Point
Internal Analysis (S/W) - ✔✔Identify strength (Resources, capabilities, competences):
-Quality and Quantity of resources available
-Distinctive competences
Identify Weaknesses:
-Inadequate resources
-Managerial and organizational deficiencies
Verified
Strategy Analysis - ✔✔Study of a firms' external and internal environments, and their fit with
organization vision and goals
Strategy Formulation - ✔✔decisions made by firms regarding investments, commitments,
and other aspects, of operations that create and sustain competitive advantage.
Strategy Implementation - ✔✔actions made by firms that carry out the formulated strategy,
including strategic controls, organizational design, and leadership.
-Designing organizational structure
-Designing control systems
-Market and output controls
-Bureaucratic controls
-Control through organizational culture
-Rewards and incentives
-Matching strategy, structure,
and controls
-Congruence (fit) among strategy,
structure, and controls
Strategic managers for all levels - ✔✔Corporate -CEO, board of directors, corporate stuff
Business Level - Divisional managers
Functional Level- functional managers, business functions
, Corporate governance - ✔✔the relationship among various participants in determining the
direction and performance of corporations. The primary participants are the shareholders, the
management, the board of directors
Secondary goals - ✔✔Are objectives to be attained that lead to superior performance.
Mission - ✔✔set out why the organization exist and what should it be doing .
vision - ✔✔Is a shared vision that reduces daily monotony, provides opportunity & Challenge
BUSINESS LEVEL (ways to overcome 5 forces) - ✔✔-Overall Cost leadership
Attaining, then using the lowest total cost basis as a competitive advantage. (cons: too much
focus on an activity, increase in the cost of inputs, easily imitated, reduce flexibility)
-Differentiation
Using product features or services to distinguish the firm's offerings from its competitors. (cons:
uniqueness is not valuable, too much differentiation, expensive prdct).
-Focus Strategy:s strategy to appeal to a narrow market segment within an industry. (cons:
erosion of cost adv., competition)
SWOT - ✔✔Weaknesses (1. Snapshot, 2. A strength may not be a competitive adv. 3.
temporary 4. Starting Point
Internal Analysis (S/W) - ✔✔Identify strength (Resources, capabilities, competences):
-Quality and Quantity of resources available
-Distinctive competences
Identify Weaknesses:
-Inadequate resources
-Managerial and organizational deficiencies
