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essentials of strategic management

Questions and Answers of Essentials Of Strategic Management

How is purpose shaped by the organisation and its environment?
How can we develop co-operative strategies? And use game theory?
How can we develop new aggressive competitive strategies?
How can we analyse fast-moving markets and resource changes?
How can we analyse the dynamics of the environment and its impact on competitive advantage?
How does strategic purpose change and why?
What other important resources does the organisation possess, especially in the area of human resources?
How can competitive advantage be enhanced?
What are the main ways that resources and capabilities deliver competitive advantage?
Which resources and capabilities are particularly important in adding value and competitive advantage?
How do resources and capabilities add value to the organisation?
How important is the customer? And how do we position ourselves with customers?
What is the role of co-operation in environmental analysis?
How do we analyse competitors?
How are the more immediate influences on the organisation analysed?
What is the strategic significance of market growth?
What are the main background areas to be analysed?
What key industry factors help to deliver the objectives of the organisation?
What is the strategic environment and why is it important?
9 Take an organisation with which you are familiar and explore the extent to which its current purpose is directed by its stakeholders and governed by ethical considerations. Use Section 2.5 to
8 ‘In turbulent environments, the speed at which changes develop is such that firms which use the emerging strategy formation advocated by Mintzberg endanger their own survival. When they arrive on
7 ‘When well-managed major organisations make significant changes in strategy, the approaches they use frequently bear little resemblance to the rational–analytical systems so often touted in the
6 If you were asked to develop strategy for the following companies, which strategic management theory might you pick as a starting point for your assessment? A large, international car company; an
5 Take an organisation with which you are familiar. Analyse whether it has been following prescriptive or emergent strategies or both. Within these broad categories, how would you characterise its
4 What predictions would you make for the environment over the next ten years? What influence will your predictions have on developments in strategic management over this period?
What conclusions do you draw from this about the viability of Cereal Partners’ approach?
3 Consider the four emergent approaches to strategy outlined in Section 2.4 . Which would you judge most closely described the route taken by Cereal Partners in Case 2.1 ?
2 Examine the criticisms of prescriptive strategies in Section 2.1 and those of emergent strategies in Section 2.2 . To what extent, if at all, do you agree with them? Why?
1 Is it possible for organisations to follow both prescriptive and emergent strategies or do they need to choose?
3 Are there any more general lessons to be drawn for companies from the approach to expansion from Africa’s leading mobile telephone companies?
2 What are the risks and benefits of African companies expanding beyond their home countries? What are the dangers of having a competitive advantage that relies largely on brand and geographical
1 Where would you place the strategies of MTN and other African phone companies – prescriptive or emergent? And within this, which strategic theory represents the most appropriate explanation of
2 More generally, is it possible for a company to start with an emergent strategy and then develop a prescriptive strategy?Can a company continue with emergent strategies beyond its early years?
1 What precisely makes the development of Subway’s strategy both prescriptive and emergent?
5 To what extent do you agree with Professor Mintzberg’s description of strategies emerging rather than being prescribed in advance? If you agree with his description, what evidence do you have to
4 Take the three core areas of strategic management and apply them to a decision with which you have recently been involved. For example, it might be the organisation of a student activity or the
3 In commenting on strategy, Professor John Kay makes the comment that motivation of employees is not really part of strategic management. Do you agree with this?Give reasons for your views.
2 As a work assignment, analyse the activities of Facebook.Investigate in particular how it has managed to stay ahead of its competitors. Compare your answer with the five key elements of strategic
1 Summarise the main IBM strategies in Case 1.2 . Take each element of your summary and compare it against the criteria for a successful strategy shown on the free web material for this chapter. How
2 Can other companies learn anything from Citigroup or is the company so different from others that no useful conclusions can be drawn?
1 How do you assess the changes in corporate governance at Citigroup? Will they be successful?
6 Identify the sanctions available and, if necessary, apply them to ensure that the purpose is formulated and any compromise reached.
5 Consider how to divert trouble before it starts, possibly by negotiating with key groups.
4 Development of mission, objectives and strategy, possibly prioritised to minimise power clashes.
3 Determine the degree of power that each group holds through its ability to force or influence change as new strategies are developed.
2 Establish their interests and claims on the organisation, especially as new strategy initiatives are developed.
1 I dentify the major stakeholders.
show how ethics and corporate social responsibility shape the purpose of the organisation.
outline the chief areas of corporate governance that will influence strategy and decision making at the centre of the organisation;
define the objectives of the organisation to be achieved by its strategies;
develop a mission for the organisation;
analyse the balance of power amongst stakeholders in the organisation;
explore the organisation’s vision for the future and its strategic implications;
outline the main considerations in the development of purpose;
5 Action disconnects . Leadership, organisational routines and stakeholder interest groups may all make it impossible to react to environmental change.
4 Political deadlocks . Organisational politics may make it impossible to develop the best strategy to cope with the perceived opportunity or threat.
3 Failed creative response . The organisation may be unable to fi nd a creative way out of the threat posed, even though it perceives it accurately.
2 Dulled motivation . Even though organisations understand the environment, they may not perceive with suffi cient clarity the threat that it poses. Thus they will not be suffi ciently motivated to
1 Distorted perception . Although individuals in organisations may be able to see the environment clearly, the organisation taken as a whole may have more diffi culty. The reasons may include a
3 What lessons can we draw from the case on the usefulness of strategy dynamics and aggressive competitive theory in strategy development?
2 To what extent were aggressive competitive strategies used in the negotiations? What other aspects of strategy dynamics were involved?
1 What are the strengths and weaknesses of using strategy dynamics to plot this strategic battle? Who appeared to be the winners in the negotiations? Why?
outline the main aspects of game theory and the implications for strategy dynamics.
plot the main ways to develop co-operation strategies;
plan aggressive competitive strategies;
identify the dynamics of resource development;
explore the dynamics of fast-moving environments, especially in the context of innovation;
identify the three main ways of coping with an unpredictable environment;
develop a dynamic business framework;
10 Undertake an analysis of the organisational culture of an organisation of your choice – for example, a student society – using the concepts in this chapter. How does this analysis influence
9 Could Microsoft’s XBox (see Case 4.3 ) use any of the three main ways to improve further its competitive advantage? Which methods might be used? Why?
8 Can core competencies be bought in as a short-term strategic solution or do they have to be developed over the long term? Use an example to support your answer.
7 Identify the core competencies of fashion companies in general and Louis Vuitton in particular. What do your observations mean for strategic management development at Louis Vuitton?
6 Take an organisation with which you are familiar and identify its distinctive capabilities, using the key guidelines to assist the process. Compare the organisation with its competitors and comment
5 Using the evidence from the case study on the fashion industry, identify the main elements of Gucci’s competitive advantage. Use the seven elements of RBV to structure your answer and explain the
4 How do the seven elements of the resource-based view contribute to strategic management? What are their limitations?
3 Take the value added and other data for Glaxo Smith Kline and outline the value chain for the company. Develop the value system within which the company operates.What strategy conclusions can you
2 Identify and develop the value chain for an organisation with which you are familiar. Outline the implications of your study for competitive advantage.
1 Using your judgement, determine the key factors for success in the following industries: pharmaceuticals, fast food restaurants, charities helping homeless people, travel companies offering package
4 What is the strategic significance, if any, of the efforts of games machine makers to establish their own special technical standards? What are the risks of such strategies?
3 How does Sony score on Kay’s three areas of distinctive capabilities? What conclusions can be drawn on future resource development?
2 What core competencies does Nintendo possess? Is it capable of leveraging them further? If so, how?
1 What conclusions do you draw about the competitive advantages of Microsoft? Are its advantages sustainable over time?
Power structures . Who makes the decisions? Who infl uences the decisions? How? When?
Organisational structure . Who reports to whom in the organisation on a formal basis and who has an informal relationship?
Control systems . Bureaucratic? Well-documented? Oriented towards performance? Formal or informal? Haphazard?
Symbols . What are the symbols of offi ce? Offi ce size? Company car size? Separate restaurants for diff erent levels of managers and workers? Or the absence of these? How do employees travel:fi rst,
Rituals . Beyond the normal routine, what does the organisation highlight? For example, long service? Sales achievement? Innovation? Quality standards? How does it highlight and possibly reward such
Routines . What are the normal ways of doing things? What are the procedures (not always written down)?
Stories . What do people talk about in the organisation? What matters in the organisation? What constitutes success or failure?
3 The case suggests that holding companies like Bouygues have a more complex task in managing their resources and capabilities. Do you agree?
2 Marketing and related expenditures are much higher as a proportion of sales for GSK than for Nederlandse Spoorwegen.What are the reasons for this? Can you make out a strategic case for higher
1 An examination of the cost profiles of the three companies reveals that R&D feature more prominently in GSK than in the other two companies. Why is this? What risks, if any, are associated with
identify other important resources in the organisation, especially its organisational culture.
outline three methods for improving the sustainable competitive advantage of the organisation’s resources;
explain the roles of five special resources in the organisation and relate them to sustainable competitive advantage;
identify and explain the seven main concepts of sustainable competitive advantage;
explain how resources deliver sustainable competitive advantage to the organisation;
analyse both the value chain and value system of an organisation and comment on their strategic significance;
identify the main resources and capabilities of an organisation and the strategic decision on whether to make or buy;

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