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Business Strategy and Technology > 6. Strategic capability > Flashcards

6. Strategic capability Flashcards

(57 cards)

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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?

Study These Flashcards
A

Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service

23
Q

Types of linkages?

Study These Flashcards
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
How can an organisation strengthen their value chain?
Outsource Automate Shared service centre
25
What is Harmon's process strategy matrix?
Business processes and how they should be managed
26
Low importance and low complexity
Simple and straightforward (automate or outsource)
27
High important and high complexity
Core competence to the organisation, therefore improve as much as possible
28
Low important and high complexity
Processes add little value but are too complex for automation (outsource)
29
High important and high complexity
Processes are a core competence and should be improved not automated or outsourced
30
What are the key analytical tools for performing a portfolio analysis?
Product life cycle Boston Consulting Group
31
What are the stages of the product life-cycle?
Development Introduction Growth Maturity Decline
32
Development (product lifecycle)
Market research Negative cash flows - heavy investments in marketing
33
Introduction (product lifecycle)
Initial demand - will determine pricing policy Continued cash outflows - marketing costs may outweigh intital sales
34
Growth(product lifecycle)
New competition - quality improvements may be needed to compete Economies of scale -may begin to emerge through mass production
35
Maturity
Critical mass - starts becoming successful Positive cash flow - maximum sales with minimum marketing
36
What are unique resources?
Resources which are better than those of the competition and difficult to replicate
37
What is Kays core competence model used for?
It is used to assess the core competencies of an organisation.
38
What is the Porters value chain analysis used for?
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
What are the supporting activities of the value chain?
Procurement Technology development Human resource management Infrastructure
40
Why do linkages create a competitive advantage?
Competitors will struggle to identify and copy a linkage unlike a single activity
41
What are the key types of linkages?
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
What are the key analytical tools for performing a portfolio analysis?
Product life cycle Boston Consulting Group
43
What is the product life cycle?
Same theory as industry life cycle but products or services instead
44
What are the stages of the product life cycle?
Development Introduction Growth Maturity Decline
45
What is the Boston Consulting Group matrix?
Assist companies in deciding where to allocate their resources (ie,with problem child, should the compant invest further to gain market share)
46
How to calculate the relative market share?
Your sales/ largest competitor sales
47
Which two dimensions does the BCG model use to analyse its own position?
Market attractiveness (market growth) Competitive strength (relative market share)
48
High market share (competitive strength)/ high market growth (market attractiveness)?
Star
49
High market share/ low market growth?
Cash cow
50
Low market share/ high market growth?
Problem child
51
Low market share/ low market growth?
Dog
52
Problem child
Invest heavily to increase sharea Or Consider whether to diversify
53
Star
Dominant position in an attractive market Maintain market share by reinvesting Little cash surplus
54
Cash cow
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
Dog
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

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