MGCR 423 Study Guide - Midterm Guide: Outsourcing, Value Chain, Bargaining Power
6 Dec 2017
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Strategy: path needed to get from a (today) to b (where we want to be). Many strategies can occur at the same time. Tactics: actions/steps taken in order to get the path to the destination. Type of strategy: corporate level (whole org, business unit (diff parts, function strategies (marketing, it, finance etc, departments. Different strategic planning processes: top down vs. bottom up, structure vs. unstructured. Plans fail often due to lack of buy-in. Minto pyramid: conclusions reinforced by supporting facts, each one building on another to form pyramid, scqa: situation, complication, question, answer. Messages need to be clear and targeted: top line of ppt message should be statement/conclusion. Other tips: use 3"s (easier to remember, mece: mutually exclusive collectively exhaustive. Strategic competitiveness: achieved when firm successfully formulates and implements value creating strategy. By implementing value creating strategy that current and potential competitors don"t simultaneously implement and cannot duplicate/imitate, firms achieve competitive advantage.
