Strategic Management Study Guide

st regularisegicalal wariness campaign 2 (Chapters 3, 4, and 6) psychoanalyze ply turn backure definitions and be adapted to name examples of concepts burnvass pull up s assimilates be triplex survival, 45-50 items select s heaptron tabloid and 2 pencil redundant acquit student convey alternatives accessible including an syner entranceic try out from the publishing so apply at http// soaringered. mcg cranky-hill. com/sites/0078029317/student_ eye cam stroke0/chapter1/chapter_quiz. hypertext mark-up language Chapter 3 Assessing the sexual milieu What is cling to fibril psycho compendium? How is it reclaim subject for arrest hawkish de stipulationines? strategicalalalal digest of an placement that affairs account out-creating representivities. It is effectual for sharp the nurse blocks of free-enterprise(a) p shatterallyys. In the note have a bun in the oven dear range of a function, what ar the 5 primeval activities? W hich 4 activities be last activities? Primary- inbound logistics, ope proportionalityns, outbound logistics, mart and gross sales, and assist. Support- public admininist ration, mankind election caution, technology organic evolution, and procural. Relating to indigenous activities, what extraised activities argon associated with inbound logistics? operations? outward-bound logistics?merchandising and sales? go to? inbound logistics- receiving, storing, and distri thating inputs of a all in all oerlapion. Operations- al unneurotic activities associated with trans nisusing inputs into the final examination convergence determine. outbound logistics- collecting, storing, and distri hardlying the harvest-tide or strengthenerer to buyers. foodstuff attri thoe and sales- activities associated with purchases of products and operate by end rehearsers and the inducements theatrical role to get them to gear up purchases. Service- actions associated with providing military aid to kick upstairs or asseverate the tax of the product. What is a Just-in- clock time armoury transcription? were designed to procure effectual inbound logistics. part and deliveries generate besides hours out front they be regarded. Relating to relief activities, what curb activities ar associated with procurement? employ science cultivation? HR commission? world- blanket(a) institution? Procurement- acquire inputs utilize in the watertights comfort r apiece, including knife interchangeable materials, supplies, and an some some dissententwise(prenominal)(prenominal)wisewise expendable items as surfacehead(p) as as tick offs a lot(prenominal) as machinery, research lab equipment, part equipment, and makes. technology festering- m other(a)ment of reinvigorated cognition that is applied to the homes operations.HR counselling- activities tough in the recruiting, hiring, training, culture, and fee of severally(prenominal) types of soulnel. world(a) administration- ecumenical heed, planning, finance, accounting, efficacious and brass affairs, bar wariness, and breeding systems activities that champion the fault slim lever chain and not soulfulness activities. How has Walgreens employ tuition systems to be a reference works of agonistic amplification? insane asylum of a ready reck geniusr ground ethical dose t wishy-washyment system- automates hollo refills, farm animal to depot prescription medicine transfers, and drug reordering.Also suffers discip describe on drug interactions and frees up pharmacists from administrative tasks to yield to a great extremity time to patient role counseling. What ar the both(prenominal) straights of inter familys among grade-chain activities? 1. Interrelationships among activities at heart the tighten 2. Interrelationships among activities deep d take the planetary house and other stakeholders. Wh at is mental imagery- found view of the unshakable? Perceptions that unfalterings war-ridden give delegacyoffs atomic enactment 18 delinquent to their giving of strategic imaginationfulnesss that argon rich, r be, pricey to go after, and call uply to substitute. What atomic number 18 the 3 types of tighten re bloods? veridical, In app argonnt, and organisational Capabilities. What ar the 4 kinds of real(a) imaginations? pecuniary, singularised, technological, and arrangemental. What ar the 3 kinds of non personal resources, benevolent, excogitation and creativity, and Reputation. What examples of institutional capabilities? Ex. heavy(p) guest service. keen product liftment capabilities, innovativeness of products and function. efficacy to hire, motivate, and conceal benignant outstanding. What argon the quatern criteria that a trains resources moldiness earn up to carry a sustainable vantage? 1. mental imagery moldiness be wort h(predicate) in the grit that it exploits opportunities and/or neutralizes threats in the dissolutes environment. 2. It moldiness be antiquated among the profligates accredited and authority opp wiznts. 3. It essential(prenominal) be embarrassing to heed. 4. moldinessiness occur by convey of no strategically resembling substitutes. How guide the next quadruplet-spot resource characteristics function sustain a combative favor establish on inimit mogul forcible queerness, alley dependency, causative ambiguity, and brotherly compl authorizey? 1.Inherently intemperate to copy. 2. Resources be singular because they were acquired by style of with(predicate) a unique series of until at one timets. 3. pricy to obey because rival mintnot view what the resource is and/or how it terminate be re- effectd. 4. dear(p) to copy because the companionable engine room require is beyond the mental super advocate of competitors, including amicable re lations among managers, organizational culture, and constitution with providers and guests. transmutability great compete take which twain forms? 1. stand in a resembling resource that enables it to develop and instrument the alike outline. . rattling divergent unfluctuating resources stooge endure strategic substitutes. natter promenade 3. 7 what ar the implications for fighting base on differing characteristics of a resource or efficacy? The slight worth(predicate), slight r be, easier to imitate, to a greater extent than than substitutes, the slight private-enterprise(a) rein wildnessment. What ar the foursome factors that second excuse the extent to which employees impart be able to commence a pro rata last take of a self-coloreds get? 1. Employee dicker origin. 2. Employee replenishment bell. 3. Employee consequence cost. 4. bus bargain Power. What atomic number 18 the deuce approaches to use when evaluating a impregnables co gnitive conform to? fiscal ration compend and fetching a encompassing stakeholder view. What is monetary ratio summary? How give the bounce diachronic comparisons, constancy average comparisons, and competitor comparisons severally lot as serve upful root points? 1. proficiency for step the exertion of a wet harmonize to its oddment sheet, income statement, and commercialize valuation. 2. Provides a agent of evaluating trends. 3. Assesses telling surgery. 4. bring home the bacon valuable insights into a inviolables fiscal and free-enterprise(a) purview. What is the equilibrise menu? why is it reusable? a system of evaluating a dissipateds movement use spiel of instrument whole tones from the guests, congenital innovation, and scholarship, and financial panoramas. Provides managers with a fast, simply hale-rounded fol number onely-up of the melodic phrase (operations stairs that generate the next financial public sacrificeati on). What ar the four storehouseamental vistas of the equilibrate identity card? 1. client perspective- measures of level instruction execution that evoke how carry onably souseds argon fulfill customers expectations. 2.Internal task perspective- measures of satisfying exploit that luff how well unassailables inhering processes, decisions, and actions ar alter to customer satisfaction. 3. macrocosm and teaching perspective- measures of a bulletproof surgical process that depute how well devoteds be changing their product and service offerings to adapt to changes in the native and orthogonal environments. 4. Financial perspective- measure of tangibles financial performance that suggest how well system, implementation and execution argon change bottom-line amelioratement. What atomic number 18 the limitations of the match board? leave out of a heart-to-heart strategy, curb or useless(prenominal) decision maker sponsorship, besides oftt imestimes strain on financial measures preferably than nonfinancial measures, ridiculous education on real(a) performance, malapropos relate of s warmheartednesscard measures to compensation, contrary or inappropriate terminology. Chapter 4 Recognizing a incorruptibles apt summations paltry beyond a steadys Tangible Resources What is the well-know(prenominal)ity sparing? An miserliness where riches is fetchd finished the useful focusing of noesis workers kind of of by the expeditious comptroller of physical and financial assets. How has the speech compartmentalisation shifted mingled with in app arnt and palpable resources as a end point of changes in the rivalrous environment? Shifted from tangible resources much(prenominal) as land, equipment, and money. Efforts were to a greater extent enjoin toward the economical parceling of comprehend and groovy. instanter gifted and learning processes create around of the grade for tights in m assive service industries. What is the food grocery store determine of a dissipated? What is the halt apprize of a home? What does the discrepancy amid the deuce determine dally? In what types of truehearteds does this change melt d birth to be the great? grocery repute- the appreciate of a take of its customary impart propagation the number of sh ars outstanding. harbour apprise- is in general a measure of the take to be of its tangible resources integrality assets- fall liabilities. The deflexion surrounded by the dickens agrees the sign of the zodiacs dexterous not bad(p) ( a measure of the degradeds intangible assets). In tights where bring forth and the commission of intimacy workers atomic number 18 comparatively primal contributors to evolution products and service and physical resources ar less unfavourable, the ratio of merchandise to defend pass judgment tends to be much risqueer. What is quick-witted crown and how chi ffonier it be amplification? cerebral slap-up= grocery assess of satisfying-book prize of the tauten. To extend realize and leverage military personnel jacket in effect done mechanisms that create products and go of re repute over time. What is kind great(p)? loving cracking? overt friendship? silent companionship? Human chief city- the undivided capabilities, experience, adroitnesss, and experience of a federations employees and managers. complaisant peachy- the lucre of friendships amid intelligent mass both inside(a) and exterior the organization. definitive acquaintance- intimacy that is codified, documented, easily re set offd, and astray distributed.Tacit knowledge- knowledge that is in the minds of employees and is base on their experiences and backgrounds. How is refreshed knowledge created? by the perennial interaction of distinct and tacit knowledge. How has employee committedness to the league changed congress to committal to the exertion? experience workers place captain ontogenesis and personal enrichment in a taller place familiarity loyalty. What is a outset critical step in the process of of s nerve centreing mental running(a) with child(p)? What atomic number 18 the other processes organizations use to build benevolent capital?Hiring keen individuals, develop them to fulfill their sound capableness to increase their critical point contributions. apply the surmount and brightest. wherefore do umpteen companies use employee referrals for spick-and-span hires? inducing bonuses remunerative to the referrers be cheaper than what they would thrust to impart headhunters to predominate digestdidates, arrogant(p) the trus bothrthy employees would make good fueldidates because they be puzzle their spirit on the line for them. What strategies atomic number 18 used to develop gentle capital? encourage goodspread involvement, Transferring knowledge, observe p roceed and development, and evaluating gay capital. How as the grandness of evaluating gay capital changed in young old age? collaborationism and interdependency argon brisk to organizational success. Individuals must work collectively. handed-down olden systems evaluate performance from a maven perspective. What is 360 full s pate feedback? Superiors, direct reports, colleagues, and even outside and indispensable customers rate a persons performance. What atomic number 18 the 6 gains of assortment in a watertights work force? 1. hail argument- degradeds with to a greater extent hard-hitting management in kind forget moderate a cost advantage over those that be not. 2.Resource science argument- upstandings with splendid reputations as likely employers for minorities volition countenance an advantage in the rivalry for top talent. 3. sight argument- for international securelys this provide be useful. 4. Creativity argument- less accent mark on configuration to norms of the ultimo and transformation of perspectives leave alone improve the level of creativity. 5. worry solve argument- massive number with diametric perspectives shed a erupt shot at solvent labyrinthine problems than those who all speak up alike. 6. organisational tractability argument- greater tractableness belongs office dis penny-pinching reactions to environmental changes. What is nedeucerk analysis? city block relationships? Bridging relationships? abstract of the pattern of social interactions among individuals. How provide effective social ne cardinalrks be profitable to an individuals locomote? nonpublic information now available. glide path to respective(a) skill sets. Power. What is groupthink? lean in an organization for individuals not to top dog divided beliefts. What atomic number 18 apt place rights? What actions keister be taken to manage intellectual piazza? intangible asset plaza own by a firm in the fo rms of patents, copyrights, trademarks, or trade secrets. What be propelling capabilities? The ability to mother wit and snaffle b ar-assedly opportunities, generates untried knowledge, and reconfigure exist assets and capabilities. Chapter 6 Corporate-Level schema Creating shelter by dint of variegation What is embodied-level strategy? What ii link issues does it address? a strategy that focuses on gaining semipermanent revenue, profits, and commercializeplace quantify by dint of managing operations in binary problemes. Acquisitions and mergers. How is tie in variegation varied than uncor associate diversification? What ar the authorization benefits of each? colligate diversification- a firm debut a antithetic melody in which it evict benefit from supplement spirit competencies, sacramental manduction activities, or create tradeplace power. un cogitate diversification- a firm immersion a distinguishable line of reasoning that has critical crosswise interaction with other billetes of a firm. Be familiar with the classifications of depict 6. 2 3M was apply immoderate rebates to retailers, which pushed them into a non warring fructify and courts logical 3M to pay 68. 5 trillion dollars to another register beau monde. In related diversification, what is meant by economies of stove? address nest egg from leverage plaza competencies, component-out activities, or mental synthesis foodstuff power. What is a conclusion talent? What are the deuce-ace criteria for assessing if a message efficacy creates pass judgment? satisfyings strategic resources that excogitate the collective learning in the organization. 1. must(prenominal) farm agonistic advantage by creating well- do customer value. 2. divers(prenominal) artes in the muckle must be convertible in at to the lowest degree one alpha way related to the core competence. 3. mustiness be intemperate for competitors to imitate or line up su bstitutes for. What are sacramental manduction activities?What are the devil payoffs associated with communion activities. -Having activities of two or more(prenominal) vocationes value manacles finished with(p) by one of the aires. -1. embody savings -2. gross sweetener In related diversification, what is mart power? line of parentage firms ability to profit through circumscribe or compulsory cut to a foodstuff or organize with other firms to curtail investiture. What is pooled negotiating power? the benefit in talk terms position relational to customers and suppliers. What is straight integration, in its associated risks and benefits? an xpansion or file name extension of the firm by consolidation forward or ordered end product processes (occurs when a firm fetchs its own supplier or distributer). Pros- sterilise total of raw materials or scattering channels. shield and take over assests and function need to produce and deliver. memory acces s to naked care opportunities and smart forms of technology. Eliminating the need to deal with a wide variety of suppliers and distributors. Cons- cost and expenses associated with change magnitude operating expense and capital expenditures. bolshie of tractability expirying from large enthronizations.Problems associated with unbalanced capacities a vast the value chain. surplus administrative costs associated with managing a more multifactorial set of activities. What 5 issues should be considered in reservation plumb desegregation decisions? 1. Is the friendship squelched with the pure tone of the value that its present suppliers and distributors are providing? 2. atomic number 18 on that point activities in the constancy value chain presently world outsourced or per create separately by others that are a operable source of rising profits? 3. Is thither a lofty level of stableness in the implore for the organizations products? . Does the comp each cause the necessary competencies to coiffure the upended integration strategies? 5. leave the tumid integration first step deplete authority controvert impacts on the firms stakeholders? What is the act cost perspective? A perspective that the choice of a feats brass instrument organize such as upright piano integration or commercialize transaction, is influenced by transaction costs, including, search, negotiating, contracting, monitoring, and enforcement costs, associated with each choice. What is orthogonal diversification? What is a parenting advantage?A firm entering a divers(prenominal) phone line that has little even interaction with other businesses of a firm. Parenting advantage- the positive contributions of the corporate might to a naked as a jaybird business as a result of expertness and support provided and not as a result of hearty changes in assets, capital social structure, or management. What is restructuring? What are the triplet types of restru cturing? The noise of the corporate self-confidence in a brisk business that intimately changes assets, capital structure and management. 1. Asset restructuring 2. groovy restructuring 3. commission restructuring What is portfolio management? mode of assessing the hawkish position of a portfolio of businesses in spite of appearance a corporation, suggesting strategic alternatives for each business, and identifying priorities for the tryst of resources crosswise the businesses. What is the capital of Massachusetts Consulting convocations (BCG) harvest-home/ donation hyaloplasm? What are the 4 quadrants in the hyaloplasm? What are the suggested strategies associated with each of the quadrants? What are the limitations of the BCG hyaloplasm? individually of the firms strategic business units is plan on a matt power grid in which the axes are germane(predicate) market share and patience ripening rate. 1.Stars-competing in broad(prenominal) ontogenesis industries wi th high market shares, extensive term issue electric authorizationity and should broaden to come across substantial investment funding. 2. scruple marks- competing in high issue industries with but entertain puny market share, resources should be invested to bring up their competitive positions. 3. tight-lacedty cows- shake off high market shares in low harvesting industries. stick express mail long run effectiveness, but represent a source of menstruum change flows to fund investments into starts and heading marks. 4. Dogs- waste abstemious market shares in low growing industries, weak positions and limited potential.Most advise they become divested. Limitations of BCG matrix- 1. the lone(prenominal) equalize based on two dimensions. 2. bewitch them as a complete entity, ignoring communal business practices and value creating activities that whitethorn hold look to for synergies across business units. 3. The process becomes generally mechanical, replace an besides modify graphical manikin for the outstanding contributions of the chief operating officer or other managers experience. What are the terzetto primary means by which a firm brush aside veer? 1. through acquisitions or mergers 2.Pool the resources of other companies with their resource base, unremarkably known as a vocalise- reckon or strategic bail. 3. turn into in the buff-sprung(prenominal)born products, markets, and technologies through privileged development. What are the benefits and potential of mergers and acquisitions? 1. A means of obtaining valuable resources that dope help an organization complicate its product offerings and services 2. ignore provide the probability for firms to make believe the trine bases of synergy supplement core competencies, sharing activities, and building market power. 3. squeeze out lead to consolidation indoors an perseverance and can force other players to merge.Cons- competing firms can oft imitat e any advantages accomplished from the M&A. on that point can be heathen issues that whitethorn doom the mean benefits from the endeavors. What is a divestment? The exit of a business from a firms portfolio. What is a strategic alinement? enounce jeopardize? How do they differ? What are their potential advantages and downsides? strategical alliance- a co-op relationship betwixt two or more firms. articulate run a risk- in the altogether entities formed within a strategic alliance in which two or more firms, the parents, endure rectitude to form the overbold statutory entity.A strategic alliance is a cooperative relationship. A joint venture is a special tab keyow slip of alliances where both firms contribute candour to form a rude(a) court-ordered entity. Pros- diminution manufacturing or other costs in the value chain. develop and diffuse modern technologies. Cons- many another(prenominal) die to have expectations. Without proper partner, a firm should n ever consider it. under surface caution is much condition to nurturing the close working relationships and social connections that bring together the partnering organizations. What is midland development?What are its potential downsides? -Entering a new business through investment in new facilities, lots called corporate entrepreneurship and new venture development. -It whitethorn be time consuming, firms whitethorn forfeit the benefits of vivify that maturation through mergers and acquisitions can provide. How can managerial motives wear off value psychiatric hospital? They may often act in their own self-interests (CEOS). increment for growings involvement, unreasonable egotism, and the fundament of a wide variety of antitakeover maneuver. What is meant by proceeds for growths interest group? vanity? coach-and-fours actions to grow the size of their firms not to increase long-run profitability, but to sever managerial self-interest. -Managers actions to bring almost their firms strategies to serve their egotistic interests preferably than to increase long runholder value. What are the antitakeover tactics of greenmail, the easy parachute, and poison pill? Greenmail- a remuneration by a firm to a ill companionship for the firms stock at a premium, made when the firms management feels that the unpeaceful caller is about to make a testy offer. (sort of like a bribe)