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Winter 2013 > 489 Test 3 > Flashcards

489 Test 3 Flashcards

(62 cards)

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1
Q

Interorganizational Strategies (3)

A

Competition, Alliances. Outsourcing

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2
Q

Think about ousourcing? 3 steps

A

Look at activities in your company as services
Are you generating quality that your customers don’t value?
Are there functions that your perform below world class levels that your customers do value?
….If yes to the last one then consider outsourcing

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3
Q

Three Risks to outsourcing

A

Loss of control
Possible leakage of knowledge and skills
Possible nurturing of potential rival
Loss of benefits learning curve and focus of the firm.

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4
Q

Alliances must have (5)

A 
Mutual objectives
Complementary needs
Trust
Shared Risk
Fit with members of the business strategies
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5
Q

Virtual Organization

A

A network of independent companies

through I.T. , sharing skills, access to markets and costs

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6
Q

In a V.O. each company contributes..

A

Its core competency

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7
Q

In a V,O. what are key to the organizations success?

A

Network and Supply Chain Management

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8
Q

V.O. are completely dependent on…

A

Alliances and outsourcing

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9
Q

Corporate Strategies focus on..

A

What to do with Business Units, rather than within.

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10
Q

B.U. Three things to Focus on…

A

Performance of existing
Number of B.U.
Mix of B.U.

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11
Q

SBU

A

an operating unit that provides a distinct set of products or services to a distinct group, that competes within an identifiable group.

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12
Q

Corporate level decisions

A

Expansion and Diversification

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13
Q

Expansion into existing markets

A

Change product market and geographic scope

Vertical integration, expanding the value chain.

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14
Q

Diversification into new businesses

A

Related (Horizontal)

Unrelated (Conglomeration)

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15
Q

Three growth strategies

A

Concentration
Vertical Integration
Diversification

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16
Q

Concentration

A

a single product/service, closely related

Market, product or horizontal

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17
Q

Vertical Integration

A

Forward and Backward

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18
Q

Diversification

A

Concentric

Conglomerate

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19
Q

Implementing Growth Strategies

A

Internal Growth
Acquisition
Merger
Joint Venture

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20
Q

Defensive Strategies

A

Turnaround
Divestment
Liquidation

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21
Q

BCG Growth/Share Matrix

A

Stars, Question marks, cows, dogs

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22
Q

Decision Making:Bounded Rationality

A

Satisficing Model
Sequential Alternative evaluation
Judgmental heuristics and biases

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23
Q

Sitisficing model

A

the decision maker looks at a small number of familiar or likely solutions and chooses one that produces a good enough outcome.

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24
Q

Sequential alternative evaluation

A

Decision makers evaluate alternatives sequentially, pairwise comparisons

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25
Judegemntal heuristics and biases
rules of themb, shortcuts,
26
Optimization model
``` Ascertain the need for a decision identify the decision criteria allocate weights to the criteria develop the alternatives evaluate the alternatives select the best alternative ```
27
High velocity environment
rapid, frequent and discontinuous change market info is unavailable or incomplete windows of opportunity are short high performers make major decisions carefully but decide quickly
28
Eisenhardt
Speed actually increases decision quality
29
Fast decision makers
review as much or more information than slower decision makers rely on real time data evaluate more alternatives evaluate simultaneously rather than sequentially seek expert counsel
30
Decision making mistakes to avoid
``` not using participative approach analytical short cuts in response to time pressure advocacy approach defense to self interest political vs analytical blindspots ```
31
Blindspots
overconfidence winners curse limited frame escalation of commitment
32
Decision making under uncertainty
shape or adapt commit now or in the future focus or diversify
33
SBU level decisions will be guided by
Industry attractiveness and competitive position
34
diversify
acquisition internal development ventures
35
concentrate
divestiture | restructuring
36
at business unit level, decisions are
related to positioning and distinguishing the business
37
quantitative evaluation criteria
``` EVA MVA revenue profit risk investment roi breakeven point ```
38
EVA
after tax operating profit minus cost of capital
39
three ways to increase EVA
use less capital increase profits invest in high return projects
40
MVA
total market value minus the capitaltied up in the company
41
Implementation of strategic plan
design ensure manager have the right background, skills and attributes employ the right policies allocate resources
42
silent killers, mckinsey and co
Top down, laissez faire senior management unclear strategy, conflicting priories ineffective senior mgt poor vertical communication poor coordination across functions inadequate down the line leadership skills and development
43
Mansanto study of planning and implementation, know!!!!!!!
Best company practices...next slide
44
Formulating plans
start with clear strategy and vision
45
review and approval
rely on review proccesses to assure goals are objective realistic and consistent with long run strategy
46
Managing plan implementation
foster buy in to get conformance with the plan
47
Measuring performance
set clear and quantifiable objectives, measure rigorously
48
rewards and consequences
tie rewards and consequences to results
49
MANSANTO
``` Formulate plans Review and Approval Managing Plan Implementation Measuring Performance Rewards and Consequences ```
50
Five Critical managerial tasks vital to strategy implementation
``` Building and organization capable of carrying out the strategic plan Allocating resources galvanizing organization wide commitment internal administrative support systems exerting strategic leadership ```
51
Leader/Situation fit
``` Business stage customer type competition stakeholder needs technology ```
52
Keys to strategic plan implementation
plans are linked to the appropriate control system within the organization plans are owned by operating management plans are perceived as being achievable by those responsible for implementation.
53
Effective control requires KNOW!!!!
Measurement Evaluation analysis of deviation corrective action
54
Strategic control includes
Premise control implementation control strategic surveillance
55
strategic control is more complex, cannot...
wait for actual results
56
ABM, Activity based management
Looks at activities as drivers | assuring that each activity adds sufficient value
57
EVA
(After tax operating profit)-(cost of capital)
58
MVA
(Market Value of debt and equity)- | Total Capital
59
Cost of capital includes
Debt and opportunity cost of equity
60
Total capital
retained earnings and reclassified items
61
Balances scorecard
reduces the risks from controlling on basis of short term financial measure only ROI, ROE
62
Strategic audits, measures of strategic health
Performance measure involve current condition | Strategic health indicates performance in the future.

Winter 2013 (4 decks)

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