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Difficult Questions Flashcards

1
Q

What is a rational model?

A
  • Step by step
  • follow a series of stages
  • strategic analysis > strategic choice > strategic implementation
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2
Q

What is an emergent approach?

A
  • Evolve in response to unexpected events
  • Strategy tends to evolve rather than result from a logical process
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3
Q

What is logical incrementalism?

A
  • Strategy is small-scale extension of past policy
  • Consultation, compromise and accomodation built into process
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4
Q

What is freewheeling opportunism?

A
  • Avoid formal planning and take advantage of opportunities as they arise
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5
Q

Who are the actors that Braithwaite & Drahors has identified as having an influence on the way organisations conducts its business?

A

Organisation of states
States: organised political communities
Organisations formed by firms
Corporations
Non-governmental organisations
Mass publics
Knowledge based communities

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6
Q

What are value drivers?

A

Activities or features that enhanced the percieved value of a product or service

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7
Q

What are the benefits of Porter’s value chain?

A
  • Generic framework to analyse behaviour and costs
  • Activities not generating value can be identified
  • Makes it clear that underlying activities need to be analysed
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8
Q

What are the criticisms of Porter’s value chain?

A
  • More suited to a manufacturing environment
  • Model was intended as a quantitative analysis however this is time consuming
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9
Q

What are the 3 real options?

A
  1. Option to follow on
  2. Option to abandon
  3. Obtion to delay
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10
Q

What are Irvine and Martin’s 5C’s?

A
  1. Communication
  2. Concentration
  3. Coordination
  4. Consensus
  5. Commitment
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11
Q

What are the 3 options?

A
  1. Suitability
  2. Feasibility
  3. Acceptability
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12
Q

According to Boston Consulting Group matrix if the market growth is high and the market share is high what is it?

A

Star

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13
Q

According to Boston Consulting Group matrix if the market growth is high and the market share is low what is it?

A

Question mark

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14
Q

According to Boston Consulting Group matrix if the market growth is low and the market share is high what is it?

A

Cash cows

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15
Q

According to Boston Consulting Group matrix if the market growth is low and the market share is low what is it?

A

Dog

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16
Q

What are the features of cash cows?

A
  • Hold or harvest
  • Maturity stages of life cycle
  • Strongly profitable and cash generating
17
Q

What are the features of stars?

A
  • hold or build
  • growth stage of life cycle
  • offer attractive long term prospects
  • could one day become cash cows
18
Q

What are the features of question marks?

A
  • Build or divest
  • Growth or introduction stage
  • sometimes known as problem children
19
Q

What are the features of a dog?

A
  • Harvest or divest
  • decline stage
  • likely to be making small profits or losses
  • market no longer attractive and dominated by others
20
Q

What are the 7S’s in McKinsey’s model?

A
  1. Strategy
  2. Structure
  3. Styles
  4. Staff
  5. Skills
  6. Systems
  7. Shared Values
21
Q

What 3 factors are considered as hard in McKinsey’s 7S model?

A
  1. Strategy
  2. Structure
  3. Systems
22
Q

What 4 factors are considered as soft in McKinsey’s 7S model?

A
  1. Styles
  2. Staff
  3. Skills
  4. Shared values
23
Q

What are the external triggers for change?

A
  • Indirect triggers (PESTEL)
  • Direct triggers (Porter’s five forces)
24
Q

What are the internal triggers for change?

A
  • Philosophy: new ownership/CEO
  • Reorganisation: Takeover/merger
  • Personnel: Promotions/transfers
  • Conditions: Location change
  • Technology: new procedures/systems
25
What is the 8 steps process for a change leader?
1. Establish sense of urgency 2. Creating guiding coalition 3. Developing a change vision 4. Communicating the vision 5. Empowering broad-based action 6. Generating short term wins 7. Never letting up 8. Incorporating changes into the culture
26
What is included in the 'unfreezing' process of Lewin's three stage model?
- Identify and exploit areas of stress or disatisfaction - Creating or introducing additional forces for change - Increasing employee's knowledge
27
What is included in the 'change' process of Lewin's three stage model?
- Establish new patterns of behaviour - Setting up new reporting relationships - Creating new reward schemes - Introducing new styles of management
28
What is included in the 'refreezing' process of Lewin's three stage model?
- Larger rewards for people who embrace change - Publicity of success stories
29
What are the features of Tom Peters' 'Thriving on Chaos'?
- Excellent companies that succeed by seeking to create a climate of continual and radical change - Incremental change is enemy of true innovation - Excellent companies don't believe in excellence, only in constant improvement
30
What is LTV?
- Lifetime value of a typical customer - Multiply average monthly recurring revenue by average customer lifetime
31
What is CAC?
- Cost to acquire a typical customer - Looking at all expenditure on sales and marketing and dividing by number of new customers won
32
What 3 areas are a combination of the metrics for digital traction?
1. Scale 2. Active usage 3. Engagement
33
What is scale and what are the typical metrics?
- Number of people showing an interest in product or service - Metrics include: Number of visitors, unique users, number of registered users
34
What is active usage and what are the typical metrics?
- Frequency with which users interact with organisation - Metrics include: Daily active users, monthly active users, number of active users
35
What is engagement and what are the typical metrics?
- Looks at degree user has engaged with organisation - Metrics include: Net promoter score, Customer satisfaction index

E3 (26 decks)

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