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Strategic management (What is strategy? (Does strategy matter? (yes…

- - - - positioning literature
        
        helps to adapt
    - - population ecology perspective
        
        environment decides
  - - - perspective
        
        Position
        
        CA comes from position
        
        plan is to defend it
        
        expression of identity
        
        CA - outsiders indentifying with firm
      - partly rational
        
        flexible mission
        
        deviations may occur
    - - based on clear mission
        
        optimality
  - - - competitors
        
        but also stakeholders
- - - - poistioning literature
        
        porter's 5 forces
        
        Bargaining power of buyers
        
        BP of suppliers
        
        competetive rivalry
        
        threat of substitutes
        
        1 more item...
        
        if advantageous low cost position
        
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        strategic actons
        
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        four generic strategies
        
        Cost leadership
        
        focus cost leadership
        
        differentiation
        
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        strategic groups
        
        similiar strategy firms
        
        more intense competition within
        
        Flexibility is crucial
        
        Flexible manufacturing systems
        
        infomation networks
        
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        quick production changes
        
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    - - resource based view
        
        how to get CA?
        
        VRIN
        
        core competencies
        
        core rigidities
        
        relies too much on internal resources
        
        "trapped in the past"
      - value chain
        
        primary activities
        
        support activites
        
        assistance for primary activities
        
        creation of product
        
        sales and distribution
    - - Macro
        
        Industry
        
        Micro
        
        focal firm
        
        focal firm and peers
        
        many industries
  - - - unfamiliar environments
      - surface analogs
        
        working concepts
        
        implement instantly
      - structural analogs
        
        succsessful predecessors
        
        mimickings
  - - - Divisional
        
        Matrix
        
        Hybrid
        
        functional + divisional
        
        growth
        
        innovation
        
        cost savings
        
        significant information flow
        
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        ecomonies of scope
        
        growth
        
        innovation
        
        customer focus
        
        multiple product line
        
        diversification
        
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      - efficient
        
        low cost
        
        stability
        
        standardized products
        
        little information sharing
        
        little innovaiton
        
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        functional specialization
        
        economies of scale
- - - - How to go?
        
        Entry strategies
        
        FDI
        
        Exporting
        
        Contracts
        
        Franchising
        
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        Direct
        
        indirect
        
        Wholly owned subsidiary
        
        Joint venture
        
        alliance between firms
        
        acquisition
        
        often restructured
        
        Mergers
        
        acquisitions
        
        controlling or 100% interest
        
        reasons?
        
        to acquire VRIN
        
        Horizontal
        
        Vertical
        
        different level of supply chain
        
        expensive
        
        1 more item...
        
        same level
      - Diamond model
    - - multi-domestic strategy
        
        global strategy
        
        Same
        
        Adapts
      - Stays same also adapts
  - - - industry attrctiveness test
        
        cost of entry test
        
        synergy test
        
        synergy with subsidiaries
        
        cost of entering market
        
        industry's growth and profits
    - - Unrelated
        
        related linked
        
        related constrained
        
        operational and corporate relatedness
        
        High OR high CR
        
        low OR high CR
        
        High OR low CR
        
        low OR low CR
        
        no strategic fit
        
        used when profitable
- - - - Kirznerian approach
        
        information gaps
        
        exploiting opportunities
      - strategies
        
        Technology push
        
        market pull
        
        meaning driven
        
        technology epiphanies
        
        radical TC radical MC
        
        changing meaning in product
        
        incremental TC radical MC
        
        satisfies market needs
        
        incremenetal TC incremental MC
        
        radical TC incremental MC
    - - creative destruction
        
        disrupting the market
        
        requires new information
        
        very innovative and rare