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business
essentials of strategic management
Questions and Answers of
Essentials Of Strategic Management
8 ‘During the 1990s, top executives will be judged on their ability to identify, cultivate and exploit the core competencies that make growth possible.’ (Gary Hamel and C K Prahalad) Discuss
7 Identify the probable key competitive resources of the following: a charity like UNICEF; a major consumer electronics company; a holiday travel tour operator; a multinational fast-moving consumer
6 Choose an organisation with which you are familiar and identify the upstream and downstream parts of the value chain for that organisation. Which is the most important for that organisation or do
5 ‘A recurring theme to criticisms of strategic planning practice is the pedestrian quality of the strategic options that are considered.’ (George Day) By what methods might this legitimate
4 Take an organisation with which you are familiar, such as a small voluntary group, and consider the possibilities of expansion: apply the market options matrix and expansion method matrix to your
3 ‘Generic strategies are a fallacy. The best firms are striving all the time to reconcile opposites.’ (Charles Baden-Fuller and John Stopford) Discuss this statement.
2 Plot the position of News Corporation on the generic strategies matrix. What conclusions, if any, can you draw from this about future strategies for the company? (Note the hint in the ‘if any’
1 Do small firms have anything useful to learn from a consideration of the options available from generic strategies?
10 What are our competitors undertaking in the area of resources, skills and competencies?
9 How is the environment changing? What impact will this have on current and future core skills and resources?
8 What new resources , skills and competencies do we need to acquire over the next few years? How do they relate to our vision?
7 What other skills do we have in relation to our customers? What are the core skills? Are they unique to our organisation or do many other companies have them? How might they change?
6 How do our customers benefit from our competencies and resources? What real benefits do they obtain? Are we known for our quality? Our technical performance against competition? Our good value for
5 What financial resources do we have? Are they sufficient to fulfil our vision? What is our profit record(or financial record in not-for-profit organisations)? Is the record sufficiently good to
4 What people skills do we have? How important is their contribution to our competencies? How vital are they to our resources? Are there any key workers? How difficult would they be to replace? Do we
3 How do we generate value added ? Is there anything different from our competitors? Looking at the main areas, what skills are involved in adding value?
2 What links are there between the products that we manufacture or services that we operate? What common ground is there?
1 What technology do we have? Is it exclusive? Is it at least as good as the competition? Is it better?
4 Why has News Corporation been so successful? Where does it go from here?
3 In such a fast-changing market, is it possible to follow the prescriptive approach of options development and selection?Would News Corporation perhaps be better advised to have a general vision and
2 How and where does News Corporation add value to its services? And where does it obtain its competitive advantage?What strategies has it adopted on barriers to entry?
1 Among the media companies, there is disagreement on the best route forward for strategic management: the software route versus the hardware route. Where does News Corporation stand in this debate?
4 What lessons, if any, can be drawn from the global TV market on the broad task of developing strategic options?
3 What strategy options would you consider if you were given the task of developing a truly global TV network?Would it be profitable?
2 If you were developing strategy options for a small company, what strategy options would you consider? What problems might you encounter?
1 Do Porter’s generic strategies provide any useful insights in structuring the strategic opportunities in global TV?Think carefully about the criticisms before you answer this question.
3 Can companies in the media and travel industries, like television stations and theme parks, gain and retain competitive advantage simply by offering new products? Or do they need to rethink other
2 Using concepts from this chapter, what are the options available to Disney over the next five years?
1 What are the competitive advantages of the Disney group?Which, if any, are sustainable over time?
How are managers selected and motivated to implement strategies?
What special considerations apply when seeking innovatory strategies?
What are the main principles involved in designing an organisation’s structure to implement its strategy?
What are the consequences for the chosen strategies?
What are the main features of alternative strategic approaches?
How do emergent strategic considerations alter the decisions?
What is the distinction between strategic context and the other two elements – content and process?
Which options make valid assumptions about the future? Are feasible? Contain acceptable business risks? And are attractive to stakeholders?
Which options are particularly suitable for the environmental and resource conditions facing the organisation?
Which options are consistent with the purpose of the organisation?
What is the important distinction between strategic content and strategic process?
How do we develop and decide strategic management?
What options arise from being part of a corporation?
What are the benefits of being part of a group? And the problems?
What strategy options arise from these opportunities?
What are the main resource-based opportunities available to the organisation?
What are the main environment-based opportunities available to the organisation?
9 ‘Innovate or fall behind: the competitive imperative for virtually all businesses today is that simple.’ (Dorothy Leonard and Susan Straus)Is this true? Is innovation fundamental to all
8 Quinn argues that large companies need to behave like small entrepreneurial ventures to be truly innovative.Gluck suggests that major innovations only come from a‘big-bang’ push that needs
7 Identify some recent innovations and classify them into market pull and technology push. Explain how each innovation has been delivered into the market, using the S-shaped curve to show the process.
6 Do you think that the increased use of information technology will affect all organisations equally? Will some remain relatively unaffected apart from the introduction of a few computers and a link
5 With the introduction of the web, it has been argued that this: ‘will give consumers increased access to a vast selection of goods but will cause a restructuring and redistribution of profits
4 Take an organisation with which you are familiar and classify its technologies into basic, core and peripheral.What conclusions can you draw on sustainable competitive advantage for the
3 ‘In an economy where the only certainty is uncertainty, one sure source of lasting competitive advantage is knowledge.’(Ikijuro Nonaka) Do you agree with Nonaka about the unique importance of
2 In what ways might a company like Nike use a ‘knowledge audit’ as part of its strategy development process?What are the problems with this approach? Would you recommend it?
1 Take an organisation with which you are familiar and identify its areas of explicit and tacit knowledge. To what extent, if at all, does the process assist in identifying the sustainable
Explain and critically evaluate this comment.
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
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
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 ?What conclusions do you draw
2 Projection of cumulative profits: is it sufficiently profitable?
1 Capital investment required: do we have the funds?
6 Choose an organisation with which you are familiar and identify the upstream and downstream parts of the value chain for that organisation. Which is the most important for that organisation or do
5 ‘A recurring theme to criticisms of strategic planning practice is the pedestrian quality of the strategic options that are considered.’ (George Day) By what methods might this legitimate
4 Take an organisation with which you are familiar, such as a small voluntary group, and consider the possibilities of expansion: apply the market options matrix and expansion method matrix to your
3 ‘Generic strategies are a fallacy. The best firms are striving all the time to reconcile opposites.’ (Charles Baden-Fuller and John Stopford) Discuss this statement.
2 Plot the position of News Corporation on the generic strategies matrix. What conclusions, if any, can you draw from this about future strategies for the company? (Note the hint in the ‘if any’
1 Do small firms have anything useful to learn from a consideration of the options available from generic strategies?
10 What are our competitors undertaking in the area of resources, skills and competencies?
9 How is the environment changing? What impact will this have on current and future core skills and resources?
8 What new resources , skills and competencies do we need to acquire over the next few years? How do they relate to our vision?
7 What other skills do we have in relation to our customers? What are the core skills? Are they unique to our organisation or do many other companies have them? How might they change?
6 How do our customers benefit from our competencies and resources? What real benefits do they obtain? Are we known for our quality? Our technical performance against competition? Our good value for
5 What financial resources do we have? Are they sufficient to fulfil our vision? What is our profit record(or financial record in not-for-profit organisations)? Is the record sufficiently good to
4 What people skills do we have? How important is their contribution to our competencies? How vital are they to our resources? Are there any key workers? How difficult would they be to replace? Do we
3 How do we generate value added ? Is there anything different from our competitors? Looking at the main areas, what skills are involved in adding value?
2 What links are there between the products that we manufacture or services that we operate? What common ground is there?
1 What technology do we have? Is it exclusive? Is it at least as good as the competition? Is it better?
4 Why has News Corporation been so successful? Where does it go from here?
3 In such a fast-changing market, is it possible to follow the prescriptive approach of options development and selection?Would News Corporation perhaps be better advised to have a general vision and
2 How and where does News Corporation add value to its services? And where does it obtain its competitive advantage?What strategies has it adopted on barriers to entry?
1 Among the media companies, there is disagreement on the best route forward for strategic management: the software route versus the hardware route. Where does News Corporation stand in this debate?
4 What lessons, if any, can be drawn from the global TV market on the broad task of developing strategic options?
3 What strategy options would you consider if you were given the task of developing a truly global TV network?Would it be profitable?
2 If you were developing strategy options for a small company, what strategy options would you consider? What problems might you encounter?
1 Do Porter’s generic strategies provide any useful insights in structuring the strategic opportunities in global TV?Think carefully about the criticisms before you answer this question.
3 Can companies in the media and travel industries, like television stations and theme parks, gain and retain competitive advantage simply by offering new products? Or do they need to rethink other
2 Using concepts from this chapter, what are the options available to Disney over the next five years?
1 What are the competitive advantages of the Disney group?Which, if any, are sustainable over time?
How are managers selected and motivated to implement strategies?
What special considerations apply when seeking innovatory strategies?
What are the main principles involved in designing an organisation’s structure to implement its strategy?
What are the consequences for the chosen strategies?
What are the main features of alternative strategic approaches?
How do emergent strategic considerations alter the decisions?
What is the distinction between strategic context and the other two elements – content and process?
Which options make valid assumptions about the future? Are feasible? Contain acceptable business risks? And are attractive to stakeholders?
Which options are particularly suitable for the environmental and resource conditions facing the organisation?
Which options are consistent with the purpose of the organisation?
What is the important distinction between strategic content and strategic process?
How do we develop and decide strategic management?
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