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Business Strategy and Technology > 6. Strategic capability > Flashcards

6. Strategic capability Flashcards

1
Q

What are critical success factors?

A

A small number of key goals vital to the success of an organisation

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2
Q

What are threshold resources?

A

The basic resources needed by all firms in the market

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3
Q

What do you use a 9Ms model for?

A

To identify the resources which are available to the business

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4
Q

What are the 9Ms?

A

Men
Machines
Money
Materials
Markets
Management
Methods
Management information systems
Make-up

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5
Q

Men

A

Skills, motivation, attitude of staff

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6
Q

Machines (9ms)

A

Productive capacity, age of machinery

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6
Q

Money

A

Access to future funding and finance

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7
Q

Materials

A

Relations with suppliers

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8
Q

Markets

A

Existing customers, location in comparison to customers

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9
Q

Management

A

Skills, leadership style, Quality

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10
Q

Methods

A

Activities and processes that the business has adopted

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11
Q

MIS (Management information system)

A

Quality of systems

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12
Q

Make-up

A

Attitudes, culture, structure

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13
Q

What is human capital?

A

Collective attributes of an organisations human resources

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14
Q

What are the core competences?

A

Critical activities and processes which enable the firm to meet the critical success factors

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15
Q

What are Kays three main sources of competences? (KRIC)

A

Reputation
Competitive architecture
Innovative ability

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16
Q

Reputation

A

The reason that customers are attracted to organisation
The reason that employees are attracted to work

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17
Q

Competitive architecture

A

The network of relationships within and around a business

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18
Q

Innovative ability

A

The ability to develop new products and services

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19
Q

What is the start point for value chain analysis?

A

Identify whether the organisation is going to be a cost leader or a differentiator

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20
Q

What is cost leadership?

A

Seeking to be the lowest producer in the industry
Cost advantage

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21
Q

What is differentiation?

A

Creating tangible and intangible product features that the customer is willing to pay more for
Quality advantage

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22
Q

What are the primary activities that create value?

A

Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service

23
Q

Types of linkages?

A

Internal - linkages where two or more activities in the chain impact other
External - businesses chain should link to customer chain and supplier chain

24
Q

How can an organisation strengthen their value chain?

A

Outsource
Automate
Shared service centre

25
Q

What is Harmon’s process strategy matrix?

A

Business processes and how they should be managed

26
Q

Low importance and low complexity

A

Simple and straightforward (automate or outsource)

27
Q

High important and high complexity

A

Core competence to the organisation, therefore improve as much as possible

28
Q

Low important and high complexity

A

Processes add little value but are too complex for automation (outsource)

29
Q

High important and high complexity

A

Processes are a core competence and should be improved not automated or outsourced

30
Q

What are the key analytical tools for performing a portfolio analysis?

A

Product life cycle
Boston Consulting Group

31
Q

What are the stages of the product life-cycle?

A

Development
Introduction
Growth
Maturity
Decline

32
Q

Development (product lifecycle)

A

Market research
Negative cash flows - heavy investments in marketing

33
Q

Introduction (product lifecycle)

A

Initial demand - will determine pricing policy
Continued cash outflows - marketing costs may outweigh intital sales

34
Q

Growth(product lifecycle)

A

New competition - quality improvements may be needed to compete
Economies of scale -may begin to emerge through mass production

35
Q

Maturity

A

Critical mass - starts becoming successful
Positive cash flow - maximum sales with minimum marketing

36
Q

What are unique resources?

A

Resources which are better than those of the competition and difficult to replicate

37
Q

What is Kays core competence model used for?

A

It is used to assess the core competencies of an organisation.

38
Q

What is the Porters value chain analysis used for?

A

Analyse the sequence of a business activity which adds value to the products or services

&

Examine linkages between activities and processes where value can be created

39
Q

What are the supporting activities of the value chain?

A

Procurement
Technology development
Human resource management
Infrastructure

40
Q

Why do linkages create a competitive advantage?

A

Competitors will struggle to identify and copy a linkage unlike a single activity

41
Q

What are the key types of linkages?

A

Co-ordination - activities should be consistent with one another
Optimisation - strength in one area may enable firm to commit to fewer resources in another area

42
Q

What are the key analytical tools for performing a portfolio analysis?

A

Product life cycle
Boston Consulting Group

43
Q

What is the product life cycle?

A

Same theory as industry life cycle but products or services instead

44
Q

What are the stages of the product life cycle?

A

Development
Introduction
Growth
Maturity
Decline

45
Q

What is the Boston Consulting Group matrix?

A

Assist companies in deciding where to allocate their resources

(ie,with problem child, should the compant invest further to gain market share)

46
Q

How to calculate the relative market share?

A

Your sales/ largest competitor sales

47
Q

Which two dimensions does the BCG model use to analyse its own position?

A

Market attractiveness (market growth)
Competitive strength (relative market share)

48
Q

High market share (competitive strength)/ high market growth (market attractiveness)?

A

Star

49
Q

High market share/ low market growth?

A

Cash cow

50
Q

Low market share/ high market growth?

A

Problem child

51
Q

Low market share/ low market growth?

A

Dog

52
Q

Problem child

A

Invest heavily to increase sharea

Or

Consider whether to diversify

53
Q

Star

A

Dominant position in an attractive market

Maintain market share by reinvesting

Little cash surplus

54
Q

Cash cow

A

Dominant position in a low growth market

Competitors will decide not to attack our market share as the market does not warrant the investment

55
Q

Dog

A

Low share of an unattractive market

“Put the dog down” by divesting

Or hold on to the product as part of the overall portfolio

56
Q
A

Business Strategy and Technology (15 decks)

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