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business
essentials of strategic management

Questions and Answers of Essentials Of Strategic Management

●● The willingness to accept that sometimes collaboration and undertaking a merger makes strategic sense, even if some independence has to be sacrificed (Chapters 8 and 12).
●● The willingness to see every activity and process as something to review – and maybe sacrifice in favour of something more relevant (Chapters 8 and 16).
●● The ability to demonstrate relevant values (this chapter).
●● The need, sometimes, to reposition the organization (Chapter 4).
●● The ability to satisfy all key stakeholders (whose expectations may differ and even conflict), and especially customers, employees and financiers, who themselves are subject to their own
●● The ability of people to be flexible and to respond speedily to change pressures (Chapters 5, 7, 15 and 17) and competition (Chapter 6).
3 Was the timing of the attempt to rejuvenate Maserati ‘right’ or ‘wrong’?
2 What has happened to Gap and Gucci since 2009, a period when many retailers have been struggling?
1 How difficult is it to revive a flagging brand and target new customers in a very competitive market?
3 Given the nature and strength of competition, does Enterprise have a defensible and sustainable model?Is it inevitable Enterprise has to compete more directly if it is to maintain any growth
3 How would you seek to strengthen the product range without losing the necessary focus on important target customers? You can, of course,1 How would you assess these two business models?
2 Also in 2018, Burberry had to take legal action against Target for copying its check design.Research how this situation has developed. How much of an issue has it been? How difficult is it to
1 Christopher Bailey stepped down in 2018, feeling he had ‘made his contribution’ and it was time to step aside. Do you feel the changes (and their outcomes)will have made the company more
4 Given her record, would she appear to have been a likely candidate for the leadership role at M&S?
3 Had Kim Winser succeeded in buying Aquascutum, what changes do you think she may have made/needed to make?
2 Given that, in the world of high fashion, little stays still for long, what would you recommend Pringle should be doing to make sure if it does start up again, that it does not once again switch
1 How do you perceive the similarities and differences of the two turnaround challenges faced by Kim Winser?
3 Better financial control systems are also a typical feature.
2 A new strategic leader is usually necessary, who will typically be associated with a restructuring of the organization, the introduction of new strategies and a redefinition of roles and policies.
1 Asset reduction is invariably required in order to generate cash, which is quite frequently achieved by divestment of part of the business.
2 Use the text of this chapter (and parts of Chapter 10, Section 10.4) to reflect on the points in this story and then research the collapse (a year earlier, in 2014) of the charity Beat Bullying,
1 Do you instinctively agree or disagree with the final comment above?
4 Has Zhang Yin been able to demonstrate that she was correct with the assertions printed at the end of the case
3 Alternatively, is this typical stock market scare mongering to act as a check on an aggressive and dynamically led focused business?
2 Has Nine Dragons been guilty of repeating mistakes made in the past by companies with ambitious business growth targets?
Is a sustained existence ‘inevitable’ for Nine Dragons Paper, or could a business with such a growth record actually fail?
●● The business has started making (too many) mistakes, possibly having become too ambitious, perhaps with misjudged diversification or acquisition, or it may have ignored warning signs such as a
●● The business is (now) run by a crisis manager who relies too much on an ability to deal (or not deal!)with setbacks and crises as they arise, implying the wrong trade-off between reactive and
●● The business has become smothered and too bureaucratic, perhaps due to legislation, or its large size has caused a loss of its creative spark.
●● The business is technology shy, a tension where the business needs capital and technology, which costs money, so its key question is: Just when do you invest and how much do you spend?
●● The business is blinkered with too much self-belief (perhaps driven by production orientation, not customer orientation): the ‘we know best’ syndrome where the strategic leader is
●● The business is impoverished and fails to achieve (or loses) a winning strategic position; funding may be difficult or mismanaged and is under-capitalized; insufficient attention is paid to
●● The business is a half-way house – that is, a franchise or co-operative (or something similar) that is critically dependent on the continued support and engagement of others who may be
●● The single-dimension paradox where start-up progressed well, but there was a lack of ability or opportunity to grow the business beyond the initial stages.
●● The existence of (too many) ‘would-bes’ where something critical is missing – for example, a good new idea, some key competence, true commitment.
●● summarize the possible strategies for individual competitors in declining industries (Section 13.5).
●● describe and discuss strategies related to retrenchment, turnaround, divestment, management buy-outs and buy-ins, and the implementation issues involved (Section 13.4)
●● define corporate decline and failure, and identify their main symptoms and causes (Section 13.3)
●● identify the four possible outcomes of strategic change when companies are in difficulties (Section 13.2)
●● in the context of strategic break points (Section 13.1)
9 Find two businesses that have grown internationally through franchising, one a product business and the other a service business. Compare and contrast their development. To what extent are they
8 Abrakebabra became the Republic of Ireland’s premier fast food chain. It grew rapidly in Ireland through franchising. Can you ascertain why?Before the company got into difficulties, it opted not
6 Consider the most appropriate strategy for a UKbased company with international ambitions in the following industries (assume that your choice could be implemented):●●men’s fashion●● real
5 Take any leading investment by private equity funders and explore the impact of the intervention.Depending on your personal interests, you could, for example, choose from Fitness First, Madame
2 In 2003, Cadbury Schweppes became more diversified – albeit relatedly – when it acquired Adams Confectionery, a leading manufacturer of chewing gum. We can see in Online Case 8.9 that Mars had
●● determine their relative size in relation to their competitors in America, Japan and Europe.
●● ascertain the extent to which they are diversified and classify them as either single, dominant, related or conglomerate product companies
1 Obtain statistics on either a selection of large companies which interest you, or the 20 largest companies in the UK, and:
5 Revisiting Chapter 8, for each of the following strategic alternatives, list why you think an organization may select this particular strategy as a means of international growth. What would they
6 international trading partnerships.
5 where companies purchase a stake in another business for strategic, rather than purely financial, reasons
4 agreements between partners in the same supply chain
3 companies joining forces to develop a new business together
2 companies joining forces to develop a new project
1 the merging of component parts of two or more businesses
4 Whether there should be greater emphasis on online versions, rather than physical guides – and, again, how this may be engineered.
3 Whether greater international coverage may make sense – and, if so, how this may be engineered.
2 Whether it may be possible to add more value and generate more value from restaurants; those featured are able to pay Michelin for a superior display within the Guide but not their review or
1 How Michelin may create more value for customers from the Guide – with the assumption that more value could lead to either (or both) more sales or a higher price.
2 What steps might be needed for Li Ning to be a truly international business?
1 Research the Li Ning business. What can you learn from this in terms of how the business has developed?
4 Should this franchising opportunity succeed in Nigeria, could you see the next step being a transfer to other African countries – and, if so, what would the new implications be?5 Revisit the
3 Do you support Ifeoluwa Olatayo’s belief that a franchise model would be an ideal way to grow this business and reach a wider clientele? How difficult do you think it might be for her to organize
2 Can the core business based around Ibadan University be expanded in a serious way? What would limit its prospects?
1 How would you summarize the basic business model of (the original) Soupah?
3 Risk spreading, which compensates for the decisions surrounding any expansion, is accomplished through franchising. The investment risk is lowered through franchising compared with joint ventures,
2 Agency theory is about the way in which those people who manage the outlet are motivated and monitored. Because franchisees have considerable financial investments at stake, and because they
1 Resource scarcity means that a company needs access to management talent or other knowledge not available to them and, at the same time, may not have a large amount of money to invest in the
6 Companies may form international trading partnerships.
5 A company may make a strategic investment in another firm.
4 There may be specific agreements between manufacturers and their suppliers.
3 Companies may agree to develop a new business jointly.
2 Companies may agree to join forces to develop a new project.
1 Component parts of two or more businesses may be merged.
3 To manage innovation more effectively, due to high research and development costs and greater globalization which, together, often ensure that any competitive advantage gained from technology is
2 To share the costs and risks of increasingly expensive research and development.
1 To gain access to new markets and technologies as markets become increasingly international.
3 related companies sharing different skills and competencies and, although they may be within the same added value chain (e.g. a manufacturer and either a supplier or a distributor), the alliance
2 less direct competitors with complementary skills, where the intention is more likely to be benchmarking and learning for mutual benefit, and possibly developing new ideas
1 direct competitors, possibly sharing common skills, and with the objective of increased market share
5 Ensure that key people are identified and stay.
4 Communicate with those people affected to the maximum extent that is expedient.
3 Take on board the best practices from both (all) businesses to increase the prospects for synergy. It is highly unlikely that one partner will have a monopoly on good ideas.
2 Evaluate any prospective partner fully, carrying out a culture and style assessment, as well as a financial evaluation.
1 Tread warily and carry out sufficient analysis – especially where there is a hostile reaction from the target.
5 Within one year, managers should have been promoted across company boundaries.
4 Top management cover for the acquired company should be available in case key managers choose to leave after the acquisition.
3 The acquiring company should value the products, services and customers of the company that it is taking over.
2 It is important to search for a company with a ‘common core of unity’, say in technology, markets or production processes.
1 It is essential for the acquiring company to determine exactly what contribution it can make to the acquired company: it must be more than money.
●● Organizations A and B become A(B) or B(A) – this change representing a form of ‘parent-child’situation. Both names are retained but it is clear who the new owner is and which
●● Organizations A and B become AB, with a joint name. The signal here might be joined and identifiable partners.
●● Organizations A and B together become (a new) Organization C – in other words, a new name after a merger or takeover. Both old names have disappeared. The implication might be a fresh start
●● Organizations A and B become either A or B. One has taken over the other and one name has disappeared.
●● A global network via strategic alliances (discussed in Section 12.4).
●● Centres of excellence may be established where cultural values and behaviour are most appropriate.Philips chose to concentrate technology development in the Far East, where a long-term
●● An integrated global structure with production locations chosen on resource or cost grounds, in which finished goods will be transported to markets. In this structure, the organization will
●● Centralized manufacture of key components, possibly in a low-wage country, with final assembly or finishing nearer to markets – for example, Caterpillar Tractors.
1 What factors may threaten the type of international strategy practised by Infosys?
●● It ensures that while large clients are sought, it avoids dependency on any single client. At one time, General Electric provided 25 per cent of revenues; this has been reduced to 10 per cent

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