7 Written questions
6 Multiple choice questions
- Corporate Strategy, Business Unit Strategy, Functional strategy/tactics
- ID the Organization's misson and objectives, Analyze the Environment or Analyze the organizations resources. --->Formulate strategy, Implement strategy, Evaluate and monitor results.
- Unique Product within a semented niche.. Particular product, end-user, or geography.. EX.. Rolls Royce, Ferrari, High end Golf courses, Tag Hauer, Edward Jones))
- ID keys sources of competitive adv. in terms of cost of differentiation for a particular product/market.
- 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.
- 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
Stuck in the Middle → not fully committed to one of the 3 generic strategies.. EX (Sears, target, mid price golf courses), starbucks now.
Mission Statements → 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.
Competitor 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.
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.
BCG Matrix → Set of goals and policies designed to achieve competitive adv in a particular marketplace.
Differentiation → Unique Products/ Services/ Delivery Channel... EX... (Toyota quality"residual value", Amazon, Zappos "no shipping", Weber Grills, lexus, Ralph lauren, rolex, Neiman Marcus.)))