2. Strategic redirection

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Strategies in MNEs Flashcards on 2. Strategic redirection, created by Nils von der Heide on 05/12/2018.
Nils von der Heide
Flashcards by Nils von der Heide, updated more than 1 year ago
Nils von der Heide
Created by Nils von der Heide about 6 years ago
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Question Answer
An idealized process of strategy making includes three phases, name them! - Initiation - Formulation - Implementation
Name the 4 steps in the initiation phase! - Perception - Identification - Structuring - Processing
Define Status Quo Analysis! understand current and predict future performance
Whats the difference of an external to an internal analysis? External = uncontrollable Internal = controllable
Name the 6 Macro Environments of a firm! PESTEL: - Political - Economical - Social - Technological - Ecological - Legal
Name the 3 Industry Environments! 3 Cs: - Customer - Company - Competitors
Explain Porters Five Forces!
Name four core competencies to make a firm successful! VRIN: - Valuable - Rare - Inimitable - Not transferable
What are the two generic competitive strategies and explain them short! - Differentiation (better perceived value) - Price Leadership (better prices)
What method can summarize internal and external analysis? SWOT
Name 5 elements of strategy and explain them! - Differentiation (which competitive advantage?) - Arenas (what markets/segments) - Vehicles/System (What business system) - Economic Logic (How obtain revenues/profit) - Staging/Timing (speed/sequence of moves)
What is the core of strategic thinking and what are three forms of it? create performance advantage! - Antecedents of competitive advantage: market positions / resource base - competitive advantage: value advantage vs. price advantage - performance advantage: return spread / financial value
Name 5 strategy objects! - Mission (why are we in the world) - Vision (what is long-term goal) - Strategy (how to compete) - Structure (how to organize) - Systems (how to support)
Name the three environments in a redirection plan! - Causality - Complexity - Uncertainty
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