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E3 > Chapter 5-8 > Flashcards

Chapter 5-8 Flashcards

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1
Q

What are the advantages of being a cost leader

A
  • Create Barriers to entry
  • EOS
  • Remain profitable during price cutting stages of PLC
  • Price allows greater market share
  • Margns increase and market prices increase
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2
Q

What are the advantages of following a Differentiation strategy

A
  • Barriers to entry
  • Reduces impact of price through quality
  • Customer loyalty and switching costs
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3
Q

What is Ansoff’s Matrix used for

A

Used to look at the Growth options available to an Org when looking at Market (vertical) and Product (horizontal)

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4
Q

What are the options available in Ansoff’s Growth Matrix

A

Present Market - Present Product

  • Market Penetration
  • Withdrawl
  • Consolidation

Present Market - New Product

  • Product development

New Market - Present Product

  • New use
  • New Geographical
  • New segment

New Market - New Product

  • Diversification
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5
Q

Explain Diversification

A

Vertical - Aquire suppliers or customers

Horizontal - Aquire rivals or merge

Unrelated - new business with no connection

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6
Q

Explain Lynch matrix

A

This looks at the methods an Org can expand into Markets

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7
Q

What options are available for Lynch Expansion matrix

A

Home country and Internal development

  • Internal development

Abroad and Internal development

  • Exporting
  • Overseas office
  • Overseas manufature
  • Multinational/ Global Ops

Home/Abroad & External Development

  • Aquisiton
  • Merger
  • JV
  • Licencing
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8
Q

When looking at Strategic Options what 4 theories are available

A

Porter generic strategy (Basis for competetion) - be a cost leader or differentiator

Bowman Strategy clock - you can be a hyrid through

  • High sales
  • Core competences
  • Market Entry

Ansoff Direction Method Matrix - New Product New Market

Lynch Growth Matrix - Home/Abroad - Internal/External Development

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9
Q

What are the reasons to Demerge

A
  • Focus on core competences and markets
  • Increase P/E ratio in growth areas of business
  • Let S/h invest in the strategy and bix they support
  • Raise capital for debt clearance or reinvestment
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10
Q

What are the downsides of a demerger

A
  • Loss of synergies/EOS
  • Complicated when splitting Assets
  • Legal and tax implications
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11
Q

What options are available when evaluating strategies

A
  • Suitability
  • Acceptability
  • Feasability
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12
Q

Explain Suitability when evaluating strategies

A
  • Does it fit with the Org goals
  • Will it recifty weakness and exploit strengths/core competences
  • Does it deflect environmental threats
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13
Q

Explain Acceptability when evaluating strategies

A
  • How much risk is assocaiated
  • Different S/h have different risk appetites
  • Will Stake/h accept strategy (customer, bank)
  • Financial - will it help meet goals
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14
Q

Explain Feasibilty when evaluating strategies

A
  • Finance - do we have cash
  • Capability - Can we do it
  • Response - can Org deal with competitors response
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15
Q

What are the available IS

A
  • MIS - Converts data for internal use
  • DSS - Uses data to support decision making
  • ERP - Stores and manages data from across business
  • EIS - Processes Internal/External and Hostoric data for graphical output
  • TPS - high colume of data processed
  • ES - Able to make structured decisions
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16
Q

What is Earls Nine reasons for IT/IS Strategy

A

It is a source os CA so should not be left in hands of just IT people

  • Critical to biz
  • High costs
  • Efeective MGMT
  • Source of CA
  • Structural changes may occur
  • Stakeholders are affected so analysis of impact
  • Technical issues in and out of IT
  • All levels of staff are impacted
  • Revolutionary changes are possible
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17
Q

When developing IT strategies what 3 core components can be look at

A

ISS - How to exploit info to support biz strategies

ITS - **What **technologies will assist the ISS

IMS - **Who **will manage the ISS & ITS

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18
Q

What is a DBMS and used for?

A

Database MGMT system which stores data and allows many applications to extract information

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19
Q

What types of knowledge is out there

A
  • Explicit - Org has stored in hard or soft forms
  • Tacit - Info held by a person
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20
Q

What computer programmes are available when looking at Knowledge Management

Study These Flashcards
A
  • Email
  • Shared folders
  • External databasis
  • Search engines
21
Q

When turning Tacit knoweldge into explict there are 4 forms:

Study These Flashcards
A
  • Socialisation - general chat
  • Externalisation - Formalising knowledge via reports etc
  • Combination - Brainstorming / Groups
  • Internatisation - Still in groups but light bulb moment comes after and then made formal
22
Q

What specific applications are available when we look at KM sharing and explain

Study These Flashcards
A
  • Intranet - Internal network
  • Extranet - Collabrative network sharing
  • Intronet - Intranet is shared with trusted agencies
  • Supranet - Set up in co-operative manner but no one entity has control
  • Expert Systems - replace human beings in decision making
23
Q

Explain the 3 types of data

Study These Flashcards
A
  • Financial Data - Standard financial metrics such as profitability KPI’s
  • Enterprise Data - Include the above plus operational and transactional data such as customer satisfaction KPI’s
  • Big data - All of above plus new internal and external data much os which is unstrucuted
24
Q

The big data tools used to extract info and knowledge from the data available include:

Study These Flashcards
A
  • Data Analytics - Algorithms to analise large data
  • Cloud - remote servers used to hold and pcross data
  • Dashboards - presents data in easy format
  • Internet of things - everything using internet
  • Datamining - mathmatical analysis to identify patterns
  • Metadata - data that decribes data
  • OLAP - Real time data analysis
  • Predictive Analytics - Liek data minign but predicts patterns in future
25
What are the limitations of DPP
* Focus on cost reduction ratehr than customer satisfaction * Doesnt consider inter-relating products * Analysis may be more expensive than benefits
26
Kotler idenitfies 5 Brand Strategies
* Line extension - Exisiting name to new vairants * Brand extensions - exisiting brand to new products in new category (Mars Ice cream) * MultiBranding - Launch several brands (Kellogs) * New Brands - New Brand completely (Dasani) * Co-Branding - Two brands combined (Sony playstation)
27
How do you create a marketing strategy
* Define the market - Key requirements needed to be succesful * Understand the gaps - point of entry * Competitor analysis * Determine strategic planning structure
28
Earl said that there are 3 ways strategy can be developed. What are they?
* Business Led (Top Down) * Infrastrucure Led (Bottom up) * Mixed (Inside out)
29
Explain Earl's 3 leg theory to strategy development
* Business Led (Top Down) * Develop Objectives * Use of IT/IS to support * Use specialist to achieve * Infrastructre Led (Bottom up) * What IT/IS are aviailable * How will they help business achieve * What oppurtunites are available using that technology * Mixed (Inside out) * Look outside to what is available * Creative think how it can be used in business
30
You can use Earl's Grid to asses the current use of IT/IS. Explain
Earls Grid looks at Value in Business & Tech Quality. Has major impact on how we invest in CURRENT IT/iS * Low ViB/Low TQ - Divest * High ViB/Low TQ - Renew * High ViB/High TQ - Maintain/Enhance * Low ViB/Low TQ - Reassess
31
Explain the use of McFarlan & McKenney Strategic Grid when looking at designing an IT/IS Strategy
This grid maps the dependance on current IT/IS systems for an Org. Strategic importance of Planned IT v Strategic importance of current * Low Planned/Low Current = Support * High Planned/Low Current = Turnaround * High Planned/High Current = Strategic * Low Planned/High Current = Factory (Think P&M)
32
Explain the use of Peppard Applications portfolio when developing IT/IS Strategy
This compares the strategic importance currently in the future vs the strategic importance of the predicted future competitive environment * Low PF/Low CF = Support * High PF/Low CF = High Potential (plan) * High PF/High CF = Strategic * Low PF/High CF = Key Operational
33
What is the calculation of relative market share
Turnover/largest competitors
34
What are the advantages and disadvanatges Focus Market Strategy
Adv * Specialise * Secure market away from comp * Investment in market ops not as substantial as smaller market Dis * Vulnerable to larger comptetitor * May not be enough returns * EOS not achieved
35
What are the features of a Learning Org
* Free of blame for taking calculated risks * Allowed time to develop new ideas * Knowledge is trf throughtout org * Learning is seen as everyones responsibility * Training is of utmost importance * Learngn is linked in with reward scheme for performance management
36
What are the 3 V's of Big data and explain
* Volume - high colume of data. The bigger the more potential * Verocity - the speed at which the data is processed * Variety - unstructured diverse data
37
List the values of big data
* Transparency - reveal insigths to trends * Performance improvement - real time accurate info enables performance to be improved * Decision making - analytical toold to identfy trends * Market segmentation - voleume and variety allows creation of specific target markets * New products and services - data re social trens and customer behaviour can alter strategy
38
What are the 3 phases of CRM
1. Aquistion 2. Retention 3. Extension
39
What are the characteristics of Data Warehouse
* Stores data for use (Not for analysis) * Used across the Org for decision making * Enables consistency when making decisions * Improves speed of response by an Org
40
What is Data Mining
Looks for trends and hiddern patterns/relationships in large pools of data. Can gove Org better insight into customer behaviours
41
What is the 7 P's of Marketing Mix
* Product * Price * Place * Promotion * People * Process * Physical evidence
42
What is a mash up?
A web application that uses content from more than one source to create a single new service displayed in a single graphical interface
43
What is Competence Syndication when it comes to IT
This involves sharing of unique competences between businesses
44
Name 3 sources of information that will be used by a Decision Support System
1. Internal and External info 2. Qualatitive and Quantative info 3. Tactical information
45
With IMS what responsibilites fall under its remit
* Plannign and control of IS developments * Allocating IT staff
46
Give some features of an Expert system
* Can be purchased off the shelf * Trial and error can be used to perfect * Rules governing it can be updated
47
What are the Change Adept features according to Kanter
* Innovation * Professionalism * Collobratitive
48
​When looking at Lewin's stages of change what are each features
Unfreeze * Selling change * Giving motive to change attitudes, values or systems Change * Identify new desirable state * Communicate and encourage ReFreeze * Consolidation and reinforcement
49
What are the features of Theory O and Theory E
Theory O * Participative * Emergent (rather than top down) * Encouragement of staff for suggestions and share ideas Theory E * Top down * Changes are planned and programmatic * Formal structure and systems

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