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Management Key Topics 1 How has strategy evolved during the last 500 years in the Western World a Colonial b Complementary Ex you have cotton but I have the slaves c Competitive d Destructive 2 How does the Boston Consulting Group matrix relate to the industry product life cycle economy a Star market leader strong market share in a fast paced strong b Cow typically generate a lot of cash reinvestment c Question Mark cash taken from cow and invest in a start up or weak business the question mark i This new start up low market share company can be driven into a star d Dog the company can then be milked reinvested sold or killed e Cyclical 3 As a firm product industry evolves through rather predictable stages how does each of these stages differ What are the strategy implications Induction Stage S D a b Growth Stage D S c Maturity Stage S D d Decline Renewal Stage S D i Relate to Apple case 1 Introduction Almost all businesses fail in the first 5 years you need all 4 components to be successful 2 Growth Apple has good growth rate can you produce supply enough to keep up with demand 3 Maturity by the Mature Stage you must have solved these problems must be able to sell your stuff e Organizational Issues Primary Issues 4 Why do some industries prosper in specific locations not others What conditions explain this outcome a Silicon Valley Discussion Intensity Determinants b i Resource conditions intellectuals to help with company survival ii Buyer conditions iii Support conditions iv Rivalry conditions put new store close to competitors helps you do a better job 5 Assuming you were to evaluate a prospective employer investment from a strategic perspective what types of analysis would you use Describe and explain each Strengths a Firm SWOT i ii Weaknesses iii iv Opportunities Threats b Industry Porter s Five Forces i Threat of Substitutes at the firm level ii Threat of Entry at the firm level easy to get in now because of technology but difficult prior to 1985 iii Rivalry at the firm level iv Bargaining Power of Buyers demands from firm v Bargaining Power of Suppliers sells to firm 1 Connections between suppliers and firm are becoming more coarse 2 Suppliers although many are concentrated 3 Suppliers like Apple are becoming more powerful and go skip selling to the firm and sell directly to customers instead cut out the middleman or the firm 4 Open channels possibly via the internet c The General Environment a Demographic b Socio cultural c Political Legal d Technological e Economic f Global g Interactions the biggest effect 6 Strategic decision makers cannot be locked into a single thinking model What are different thinking frameworks and their relative characteristics a Customer Focused Value Added b Productivity Quality Other Strategic Minimums c Strategic Decision Making d Environment Strategy Competency Structure Model 7 Differentiate among leaders managers and administrators a Leader looks at overall vision and how to ameliorate the goals of others b Managers can have a lot of followers as well as people who disagree i They simply announce a plan without considering others c Administrator politician informal leader looks at different demands 8 Explain the relationships among vision mission strategy and tactics Define each Explain the key considerations associated with each concept of constituents a Vision WHY i Ennobling and articulated specific ii Organization is Being right now iii and Becoming future iv Ex Kennedy s speech about man on the moon b Mission i WHAT 1 The purpose of the organization 2 Goal focused 3 Often top down ii Purpose 1 Defines organization what we are and what we seek to be code 2 Guides policy makers necessary values implies a moral 3 Offers guiding principles defines relations with others 4 Gives purpose to organization ennobles efforts enables operationalizes values grander identification 5 Acknowledges societal responsibilities recognizes diverse constituents recognizes societal roles 6 The three sectors mission variance c Strategy decisions you make when you don t have to make a decision HOW strategy tells you what you re NOT going to do i To provide organization with a sustainable competitive advantage in achieving its mission ii Answers how the organization succeeds iii Matches organizational capabilities and environmental iv Capabilities are evaluated by an evaluation of organizational opportunities strengths and weaknesses v Environmental suitability depends on an analysis of opportunities and threats in the business environment d Tactics decisions you make when you HAVE to make a decision immediate WHEN decisions you make when you need to do it i WHEN 1 When a decision is needed now 2 Decentralized pushing the decision down to the bottom 3 Delegated this is done by delegation or given authority line to do the job 9 Explain conceptually the economic history of the human race 10 What is a virtuous cycle Give two examples a Strategic Life Cycle Analysis Implications 11 Explain the concept of industry groupings a Silicon Valley Example court if stayed with long enough a Innovation 13 Explain why Happiness is positive cash flow 12 Discuss the following proposition Even a great strategy leads to bankruptcy a Business motive is to make owners wealthy b Non profit need based not a lot of profit ex homeless shelter 14 Explain why growth seems to be such an imperative for publicly traded businesses Increase shareholders wealth a b Have to increase margins i Apple able to increase margins by increasing product offerings increase price 15 Besides organic growth what other ways can executives keep sales curve growing even in a slow no growth industry a Shared Co Promos b Mergers c Hostile Takeover Acquisition d e Reference model drawn on board during class Joint Ventures 16 When considering organization strategy what is different about U S European and Japanese perspectives and goals 17 Why would Jack Welch want his product divisions to be number one or two 18 Besides Mergers and Acquisitions how do executives get top line growth in their industries a Sources of Growth 19 Strategy takes place within a set of generic constraints Identify and discuss a Organizational Constraints Internal Resources Capabilities i Internal resources are always under a constraint b Environmental Constraints Socio Cultural Legal i Limited by the policies of the company ii But they can change 20 Give a corporate example of striking where the enemy is not a Gulf War 21 Discuss

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UM MGT 675 - Management Key Topics

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