Strategic Management (Fach) / Theories, definitions, comparisons (Lektion)
In dieser Lektion befinden sich 27 Karteikarten
Principles of strategic management
Diese Lektion wurde von JoGu33 erstellt.
- What are HRN's? Mention four independent characteristics! ... "High-Reliability Networks" 1. All participating organizations in the network rely on each other to provide error free contributions to the overall performance.2. Not all organizations participating in ...
- What are HRO's? "High Reliability Organizations" “are complex” “are organizations that have been successful in avoiding disasters” “Describe a subset of hazardous organizations that enjoy a high level of safety ...
- Define the concept of interorganizational networks ... developed in the area of sociology used as a metaphor for interpersonal and/or interorganizational relationships (particularly within and among non-profit organizations) Network as an analytical tool ...
- What are the Reasons for uncertainty in general? Big amount of players Different areas of responsibility Missing of an early warning system Unknown source of the infection Missing or false communication à bad reporting system Missing experience, treatment ...
- What are the five principles for HRO's? 1. Track small failures: Any failure can be important; Focus on close calls and near misses 2. Resist oversimplification: Analyse and reject simple diagnoses 3. Sensitivity to operations: Situaitonal ...
- Describe the current view of interorganizational networks ... Interorganizational networks can be seen as a mechanism to improve a company’s competitive advantage to maintain flexibility while reducing costs arise because of economical or social interactions, ...
- Describe Dynamic Capability "Dynamic Capabilies represent an organization's ability to renew and recreate its strategic capabilities to meet the needs of changing environments!" They are the extension of the core competences --> ...
- What are Core Competences? Core Competences are the fundamental resource structure of a firm: --> based on VRIN --> static approach (Can lead into stagnation)
- Describe the different types of resources of the resource-based-view ... Tangible resources: (physical + visible) capital land buildings plant equipment Intangible resources:(not physical + invisible) culture knowledge brand equity reputation patents, copyrights, trademarks, ...
- How dynamic capabilities can be, depends on: ..... structure of the company resources of the company financial power of the company
- Mention and describe Porter's Five Forces An industry's attractiveness can be identified by means of Porter's five forces: In the centre: Competitive Rivalry Potential entrants: (Threat of entry) --> can reduce the market share of a company ...
- What are the limitations of Porter's five forces? --> the model is useful to identify the status quo, but lacks reflecting upon interactions and strategic behavior that is non-competitive: economic focus (no welfare considered) competitive focus lack ...
- Describe the different criteria of VRIN Valuable --> Costs allow for a realization of acceptable returns possible Rare --> Resources are unique to the organization; Conditions to be met: customers needs and sustainability Inimitable --> Conditions ...
- Hypercompetition: Describe D'Aveni's view critique of Porter's five forces: static picture focus on competition as a dynamic process underlying assumption: stable, static competitive structures are expection sustainable competitive advantage ...
- What are the characteristics of Hypercompetition? Intense and rapid competitive moves Competitors must move quickly to build (new) advantages and erode advantages of rivals Leads to significantly increased intensification of competition Superior ...
- Benefits and challenges of Hypercompetition? Competition based on costs (quality): --> Challenge: still making profit --> Benefits: generate high market share Market satisfied with goods at low price --> Challenge: reduce costs --> Benefits: higher ...
- Describe the focus of the internal and external perspective ... Internal focus and assessment: Strengths Weaknesses --> Current status External focus and assessment: Opportunities Threats --> Future
- Limitations of SWOT attributes of the SWOT analysis may be opportunities as well as risks attributes of the SWOT analysis are both internal and external based on subjective interpretation static model no specifying of a ...
- Benefits of SWOT analysis • Easy to handle with little or no costs in many different areas (companies, departments…)• Considers positive and negative aspects• Provides a clear view of your strengths and weaknesses (internal ...
- Corporate Strategies: What is Diversification? Diversification is a corporate strategy to enter into a new market or industry which the business is not currently in, whilst also creating a new product for that new market. It is similar to horizontal ...
- Compare Diversification to vertical integration While Diversification (horizontal integration) concentrates on extending the core businesses and entering a new market with new products, vertical integration means moving along the value chain, focussing ...
- Which are the two different types of vertical integration? ... backward vertical integration: --> concentrating on upstream value activities (Inbound logistics; Operations; Outbound logistics) forward vertical integration --> concentrating on downstream value ...
- Strengths (+) and Weaknesses (-) of Diversification? ... (+) risk management (+) greater revenues through wide variety (+) independence from individual clients (-) incresing organizational tasks (-) higher financial requirements (-) possible loss of overview ...
- Which factors influence the selection of an internationalization ... Local responsiveness Implementation costs Economies of scale Leveraging core competencies IP expropriation Economies of location Product differentiation Exchange-rate exposure Economies of learning --> ...
- Internationalization: Which are the market entry ... Export Turnkey operations Acquisitions Alliances / Networks --> Commitment is getting bigger from 1. to 4. !
- Mintzberg's categories of differentiation (5) Price Image Service Design Quality
- Which are the strengths of firms, that succeed in ... access to leading specific research highly skilled and creative product-development-team strong sales team corporate reputation for quality and innovation