MAN Exam 2 Flashcards
(30 cards)
Cola Wars
- coke and pepsi thrive in competitive market
- they work together to kill all other competitors in the industry
Porter’s 5 forces
- bargaining power of buyers
- bargaining power of suppliers
- threat of new entrants
- competition
- substitutes
Blue ocean strategy
sustainable high performance comes from strategic moves that create new markets rather than focusing solely on outperforming rivals in established industries.
Anglo American
- Cynthia Carroll
- closes Rustenberg mine to prioritize safety
- bring about wholesale change
- radical change to shape up the company
Prion disease contamination case
- Rose Matthews
- followed sterilization rules but 100 patients were at risk for contamination
- disease is fatal, do we tell people?
- low chances to get disease and they will die if they get it
- were not going to tell people but then a reporter called
Tylenol
- did not have safety seals
- crisis when pills were laced
The world is flat
3 big periods in globalization
3 period in globalization
- the world is flat
1.0: countries- send explores around the world to conquer new lands
2.0: companies going international (Coca Cola, McDonalds)
3.0: individual can compete in global environments through the internet - internet is great equalizer
AES
- decision making was pushed to the people affected by the decisions
- honeycomb (groups make better decisions than individuals)
- decentralization and globalized
- hiring youth to fit the AES culture (not soviet culture)
Subarctic
groups are generally going to make better decisions than individuals
Jean Claude Biver
- Swiss watch maker did not give up and decided to keep trying
- good leader/ bad manager
- about radical change= dare to be different
leadership
Apple Inc.
- apple has product and competitive advantage
- most valuable company
- dared to be different
- commodities industry but found a way to differentiate and continue to innovate value and technology together
Value innovation
differentiate: adding more value for the customer
low cost- drive down cost (not price)
- increase profitability
Value vs tech innovation
value innovation is more important than technology innovation
Core concept of blue ocean strategy
“value innovation,” aligning utility, price, and cost to create a leap in value for both buyers and the company, rendering competition irrelevant
the flattening world
meaning that the barriers to competition and collaboration are decreasing significantly.
- driven by technological advancements and the interconnectedness they enable.
10,000 hour rule
while innate talent is necessary, extensive preparation and the accumulation of experience are crucial for reaching elite levels in complex domains.
- his argument does not negate the role of talent but emphasizes the overwhelming importance of preparation in cognitively demanding fields.
Mission statement
- Describes the image the organization wants to project
- Illuminates the organization’s attitude toward its employees
- Outlines the organization’s customer base
- Articulates the geographical locations where the company competes
vision statement
- Inspires enthusiasm and encourages commitment
- Reflects high ideals
- Is appropriate for the times and for the organization
Values statement
- Is intended to guide all of the actions in the organization
- Expresses the company’s worldview
- Unchanging; As applicable in 100 years as it is today
external stakeholders- general environment
uncontrollable forces that impact org
International forces, demographic, technological etc
external stakeholders- task environment
10 groups interact with organization on regular basis
- Media, customers, competitors, suppliers, distributors, unions, government, allies, lenders, interest groups
operational plan
-breaks long-term output into short-term targets or goals
-Operational plans turn strategic plans into actionable short-term goals and action plans
