← Chapter 3 Test
7 Written Questions
6 Multiple Choice Questions
- not fully committed to one of the 3 generic strategies.. EX (Sears, target, mid price golf courses), starbucks now.
- Unique Product within a semented niche.. Particular product, end-user, or geography.. EX.. Rolls Royce, Ferrari, High end Golf courses, Tag Hauer, Edward Jones))
- Future objectives, current strategy, assumptions, capabilities.
- Human Resources, Raw Materials, Financial Resources, consumer Mrkts, Technology Sector, Industry Sector, ****Economics and Government Sectors----Most important are the last two. All of this is analyzed by SWOT.
- S+W= Strengths and Weaknesses of the Oranization, O+T= opportunities and threats of the Environment. This analysis is to identify sources of Competitive advantage.
- 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.
6 True/False Questions
Levels of Strategic Analysis → Future objectives, current strategy, assumptions, capabilities.
BCG Matrix → Boston Consulting Group Matrix. Positioning Chart for your industry(Cow=low growth, high market share)(DoG=low growth, low mrkt share *Dump the Dogs)(Question Marks??? =low mrkt share, high growth rate-- --Ask urself if you think the product is worth investing into)(Stars** High, high -take cash they need cash to keep growing, Marvel is a star, all stars become cash cows as the markets mature.)
Business Unit Strategy → ID keys sources of competitive adv. in terms of cost of differentiation for a particular product/market.
Functional strategies/ tactics → Specific to a product, marketing, HR, R&D, operational strategy
Strategy → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
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