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BU481 Study Guide - Quiz Guide: Test Strategy, Theory X And Theory Y, The Roots


Department
Business
Course Code
BU481
Professor
Karin Schnarr
Study Guide
Quiz

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Quiz 2 Review
STRATEGY MANAGEMENT PREFERENCES
The Roots of Strategic Preference:
Basic Needs: Cetal aspets of aage’s pesoalit (e.g. eed fo ahieeet,
power, security, recognition); stable, enduring, generally consistent
Beliefs: Varies from deep to casual and can change over time; direct mgmt. preferences
towards specific strategic initiatives and responses
Job Context: Defie sope ad atue of aage’s esposiilities, pefoae
assessment, and rewards; formal/informal relationships; job definition and job relations
Reconciling Stakeholder Interests:
Employees: Fair wages for efforts; specialized skills
Customers: Desired features at lowest price; small customer pool wields power
Shareholders: Fair return on investment; dependent on risk
How to do Management Preference Analysis:
1. Develop/analyze strategy
2. Identify required mgmt. preferences
3. Test strategy mgmt. pref. link (required preferences vs. observed preferences)
4. Develop gap-closing analysis (assess feasibility of material gaps; if costs + chances of
successes acceptable, carry proposal forward)
5. Move to next step of Diamond-E analysis
STRATEGY RESOURCES
Dual Role of Company Resources:
Fuel: Assets euied fo usiess to futio
Potential sources of strategic competitive advantage
Resource Types:
Tangibles: Marketing (ads), Operations (factory), R&D Development, Financial (capital),
Human, Locations
Intangible: Brand, Reputation
Organizational Capabilities: Routines, processes, abilities, culture
3 Key Tasks of Manager Related to Resources:
1. Finding/investing in resources
2. Upgrading resources
3. Leveraging resources
Why is the Resource-Based View (RBV) Useful?
Internal perspective of firm idust aalsis does’t tell us as uh
Explains why some competitors are more profitable than others
find more resources at oneclass.com
find more resources at oneclass.com
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