7 Written questions
6 Multiple choice questions
- Set of goals and policies designed to achieve competitive adv in a particular marketplace.
- Unique Products/ Services/ Delivery Channel... EX... (Toyota quality"residual value", Amazon, Zappos "no shipping", Weber Grills, lexus, Ralph lauren, rolex, Neiman Marcus.)))
- not fully committed to one of the 3 generic strategies.. EX (Sears, target, mid price golf courses), starbucks now.
- 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.)
- Threat of Substitute products, Bargaining power of supplier, bargaining power of buyer, threat of new entry, Rivalry among existing competitors.
- ID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.
6 True/False questions
Corporate Strategy → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
Environmental Sectors → 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.
SWOT analysis → 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.
Focus → Unique Product within a semented niche.. Particular product, end-user, or geography.. EX.. Rolls Royce, Ferrari, High end Golf courses, Tag Hauer, Edward Jones))
Business Unit Strategy → What business are we in? Allocation of resources among business units. Ex. Pepsi Co
Levels of Strategic Analysis → Future objectives, current strategy, assumptions, capabilities.