7 Written questions
6 Multiple choice questions
- this is important because each sector this analyzes represent an important segment of the environment that potentially influences the survival and effectivenes of the organization.
- not fully committed to one of the 3 generic strategies.. EX (Sears, target, mid price golf courses), starbucks now.
- Threat of Substitute products, Bargaining power of supplier, bargaining power of buyer, threat of new entry, Rivalry among existing competitors.
- Future objectives, current strategy, assumptions, capabilities.
- ID keys sources of competitive adv. in terms of cost of differentiation for a particular product/market.
- Selling your product at lower cost, High volume sales. Perceived value (price vs quality) EX...(State University, Jet Blue, Kia, Old Navy, TImex))
6 True/False questions
Focus → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
SWOT analysis → Future objectives, current strategy, assumptions, capabilities.
Competitive ADV → Having the ability to transform inputs into goods and services at a maximum profit on a sustained basis better than one's competitors. You want to be in imperfect competition
Strategic MGMT process → ID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.
Functional strategies/ tactics → Explains the essence of an organization-- why it exists, what it wants to be, who serves it, and why it should continue. contains:purpose, value, place in the world.
Levels of Strategic Analysis → Corporate Strategy, Business Unit Strategy, Functional strategy/tactics