5 Written questions
5 Matching questions
- Analyze internal strengths and weaknesses
- Vertical integration
- Concentric diversification
- Why are most SWOT Analyses not valid?
- a corporate strategy moving into new businesses that relate to the original core business.
- b BCG Category of Business: low-growth, weak-competitive-position businesses should be divested after their remaining revenues are realized
- c Internal resource analysis
Human resources assessment
Other internal resource analyses
- d corporate strategy of expanding the domain into supply channels or distributors
- e They don't segment the data and they are too generalized.
5 Multiple choice questions
- Strategies that are implemented by each functional area of the business to support the business strategy.
Includes major functional areas like production, human resources, marketing, etc.
The last strategy to be developed
- Define strategic tasks.
Assess organization capabilities.
Develop an implementation agenda.
Create an implementation plan.
- a. Illusion of Control = over-confidence
b. framing effects - painting a pretty picture
c. discounting the future - focusing only on short term
- Evolve from the organization's mission and vision.
The steps and processes to achieve the mission and vision
- 1. Establish mission, vision and goals
2. Analyze internal strengths and weaknesses
3. Analyse external threats and opportunities
4. SWOT and TOWS analysis and strategy formulation
5. Implement strategy
6. Strategic Control
5 True/False questions
Low Cost Strategy → Identifies the set of businesses, markets, or industries in which the organization competes as well as how the resources are distributed.
WHERE you do business.
Question Marks → BCG Category of Business: Businesses with high growth and a strong competitive position require heavy investment
3 levels of planning → Top Level Management
effectiveness, efficiency, market share, profit, ROI,
BCG Matrix → Determining how well one company's compare with another company or set of companies.
Understanding "best practices" of other firms
Take actions to achieve better performance and lower costs
Ford, Corning, Toyota
Corporate Strategy → a strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product. (Walmart)