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essentials of strategic management

Questions and Answers of Essentials Of Strategic Management

●● It has a clear structure (in Bangalore) that was dedicated to servicing overseas clients.However, as relative salaries in India have risen(albeit still well below those of the United States
●● It has expertise in project management.
●● It recognizes that, in software, human resources are the core resources and they must be nurtured.Systems and conditions were created which would attract and retain the best. Good young talent
●● It has world-class operations and high-quality products and service.
4 Can you think of anything its leading rivals could do to disrupt the status quo?
1 Why is Coca-Cola ‘number one’ in its industry? In answering this question, think about the organization as well as the product and its approach to marketing.
2 Do you think the enforced trigger caused the development of an international strategy that otherwise may not have happened?
1 How well do you think Bata dealt with the challenges and threats it faced?
●● discuss a number of constraints and outline a selection of possible future influences on international growth (Section 12.7).
●● explain the different modes and means of growth – both domestic and global – and their roles as growth strategies:– diversification (Section 12.2)– mergers and acquisition (Section
●● compare and contrast domestic and international strategies (Section 12.1)
4 Use the internet to research one or more of the Heritage Railways in the UK – good ones to look at would be the Severn Valley, the Keighley and Worth Valley, the North Yorks Moors and the
3 In conjunction with the financial analysis exercise at the end of the web supplement to which we have referred, determine just how successful you believe Shepherd Neame to be in a relative and
2 Select a number of organizations from the ‘Admired companies’ section of this chapter, picking out those that interest you personally. Obtain their financial results for at least two years
1 In early 2000, Microsoft was judged by the US courts to have been operating as a monopoly and stifling competition. How have its reputation, respect and admiration been affected by this judgment?
●● prevent blindness’.How could they assess how well they are doing?
●● protect the interests of the blind and
●● ‘promote the better education, training, employment and welfare of the blind
3 The Royal Charter for the Royal National Institute of Blind People, granted originally in 1949, states that the Institute exists in order to:
2 The purpose of the Metropolitan Police Service is to:‘uphold the law fairly and firmly; to prevent crime;to pursue and bring to justice those who break the law; to keep the Queen’s peace; to
Take either (or both) the Management Today or Fortune lists of admired companies and think about the hidden messages in the rankings as they change year-by-year. Without further research
3 Given the increasing pressure against single-use plastic bottles and paper cups, how might Coca-Cola respond?
2 How do you evaluate the acquisition from the perspective of Coca-Cola? What would you do next as the new owner?
1 From the perspective of Whitbread’s shareholders, would this strategy be seen as successful? Why?Was it a strategic move that would benefit all key stakeholders or just some? Was it really driven
Over time, how do you think the relative success of Masdar will be evaluated? Are you in favour of the‘measures’ you believe will be used? Are they sufficiently holistic?
●● It has also popularized the soundtracks of films such as Titanic, Lord of the Rings and the Harry Potter series – all of which have sold in huge quantities.
●● Classic FM has also helped launch the careers of such popular artists as Russell Watson, Andrea Bocelli, Bond and The Opera Babes.
●● Classic FM has developed links with selected orchestras and helped increase aggregate concert audiences.
●● Record stores feature classical music more extensively, especially the chart albums.
●● Compilation albums of favourite classical music have been spawned and sold in large numbers by Classic FM and mainstream labels.
●● The company has found opportunities to diversify –into a magazine, retail organization, record label, credit card and a dating agency.
●● Classic FM is one of the best-known brands in the UK.
●● Classical music has acquired a mainstream audience.
3 Is it realistic to expect the same quality and presentation of food as you might anticipate from a restaurant where all the food is prepared to order?
2 Using your past experience of – or experience from a special visit to – an all-you-can-eat buffet … even if it is a single cultural or ‘ethnic’ cuisine, such as Chinese, or a carvery or a
1 List what you think might constitute useful and relevant efficiency and effectiveness performance measures. In doing this exercise, separate the measures that are most relevant for the
●● identify the difficulties involved in measuring the effective performance of many not-for-profit organizations (Section 11.3).
●● appreciate how strategic competency and admiration are important themes in a holistic approach to evaluation (Sections 11.2 and 11.4)
●● distinguish between efficiency and effectiveness, and how success may be measured and assessed in financial terms (Section 11.1)
4 Research the main causes which the Bill and Melinda Gates Foundation supports. How do you reconcile the picture we have painted of Gates with his transformation into a social entrepreneur and
3 How effectively has the General Electric succession issue been resolved?
2 Re-examine Figure 10.4. Can you attach a particular entrepreneur to each one of the seven key leader styles?
1 Look at the events surrounding BHS, Arcadia and Sir Philip Green. Could the closing down of these iconic high street stores have been avoided? How might all-round better outcomes have been
5 In the context of the lean start-up, and using the railways as an example, talk to people you know and ask questions that provide some insight into what it is that they (as rail passengers) really
4 Apply Figure 10.4 (alternative styles of leadership)to any strategic leader whom you are in a position to evaluate.
3 Where do the entrepreneur and the visionary leader overlap, and where are they different?
2 Research the real ale sector. How much has it expanded in recent years? What may the further development of BrewDog entail?
1 Using the online Volvo case (Online Case 10.8)as background, discuss why effective leadership involves both strategy creation and strategy implementation. From your experience and reading, which
5 The organization must also never stop looking for fresh ideas.
4 The organization must make sure assumptions continue to hold.
3 Assumptions must be tested constantly in an uncertain and turbulent world.
2 It is essential to be objective when reflecting on progress.
1 At its core strategic leadership is about direction, not detail and not destination.
4 How else might someone who develops a significant media presence and reputation (as Branson has)‘make a difference’ and leave a serious long-term legacy? You might wish to use other relevant
3 Can the Virgin name outlive its founder?
2 How have they been manifested as Virgin has developed?
1 What are Richard Branson’s strengths and limitations as a strategic leader?
●● Overambition occurs in the guise of the failed entrepreneur (who enjoys early success and rapid growth due to a good product or service but, in desiring to maintain high growth, diversifies
●● Strategic drift with larger organizations is the result of introversion and inertia in a changing environment due to complacency from past success, or a concentration on day-to-day reactive or
●● When markets are not understood, small companies will fail to establish a position in their target market and not take off and grow. This could be due, perhaps, to attention being concentrated
●● A niche becomes a tomb when a small company, locked into a successful product or service, lives in the past and fails to change – an invariable sign of poor leadership and perhaps succession
●● poor financial management and control.
●● marketing and competitive failings
●● weak or inappropriate strategic leadership
●● Decline and a new crisis.
●● Consolidation, when the changes are likely cemented in a new culture such that, if an organization was in crisis, the risks are now perceived to have fallen back, and herein can lie the seeds
●● The entry of a new strategic leader into the organization, followed by experimentation with new strategies – such as downsizing, acquisitions, re-engineering and a drive for improved service
●● Misjudging the balance between strategy and operations, and between the external and internal focus of their efforts, linked to poor corporate governance, with the outcome that a good vision
●● Failing to put in effective decision-making processes such that important decisions are either not made, or are not carried through, relating to empowerment – another topic discussed in
●● Not stretching people to the highest levels of performance that they can reach.
●● Failing to deal with underperforming managers, especially if they are people they have appointed and who remain loyal.
●● Failing to put people in the right jobs – people’s individual strengths and natural behaviours can be used to judge where they are most likely to make their best contribution (Buckingham
●● Underestimating the importance of people – a topic we discussed in Chapter 5.
●● manages its resources (especially financial resources) in a way which places it in a position to govern its own future – in other words, it is prudent and does not spend beyond a level it
●● values new ideas, new people, and fresh views and opinions
●● understands where ‘it fits in the world’
●● knows ‘what it is about’
4 Starting with the final paragraphs, update the case further and examine the success of the business over the last five years. How well has Jack Ma managed growth?
3 What is the basic business model of Alibaba.com?
2 What actions has he undertaken that represent the blend of entrepreneurial characteristics found in the literature profiling entrepreneurs?
1 Do you agree that Jack Ma is a typical entrepreneur?
2 Profile William Chase. Is he part of a new breed of businessman? How successful is his business today?
1 To what extent is business development of this type very much a rare example of how to succeed in business?
●● flexibility – recognizing the need (on occasions) to change strategies, structures and style; some leaders are single style and inflexible.
●● perseverance and persistence in pursuing the mission or vision, plus mental and physical stamina
●● implementation skills – getting things done, which requires drive, decisiveness and dynamism
●● credibility and competence – knowing what you are doing and having this recognized; this requires the ability to exercise power and influence, and to create change
●● the ability to recognize and synthesize important developments, inside and outside the organization– this requires strategic awareness, the ability to judge the significance of an observed
●● belief in success and in corporate strengths and competencies that can be exploited
●● the ability to build and control an effective team of managers
●● a vision – articulated through the culture and value systems
3 Case 10.6 on Virgin and this chapter’s Strategy activity on Bill Gates (Microsoft) show how these entrepreneurs have become philanthropic. Can you identify philanthropic opportunities for Bezos?
2 Richard Branson has been described as ‘a legend in his own lifetime’. Would you describe Bezos in the same way? Why? Why not?
1 How would you summarize Bezos in the context of the leadership styles featured in Figure 10.4?
5 Who do you think would be his main rivals to be called ‘the greatest person in pop music history’?
4 What is Gordy’s legacy?
3 While recorded music is a product, is it also‘something more than a product’? If so, should or does the nature of recorded music place a particular social responsibility on those who create it?
2 How would you summarize the main styles and qualities of Berry Gordy in the context of the material in Section 10.1?
1 Would you describe this case story as primarily one on a leader/entrepreneur or one on leadership?
5 Provide policies and guidelines for other managers to facilitate both the management of operations, and changes in competitive and functional strategies.

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