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BU 111 oct.15.13

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Department
Business
Course
BU111
Professor
Laura Allan
Semester
Fall

Description
Business Tuesday, October 15, 2013  SOS BU111 MIDTERM REVIEW  BU111 SI REVIEWS Questions to think about  Technology o Think of an example of each of the important technology concepts and describe their strategic significance  Can you combine some of them and do the same? o What are the differences between sustaining and disruptive technologies? o What can a large firm do to avoid failure? o What can a small firm do to succeed against a large firm? o What are the differences among the four types of innovations and what are their implications for a small/new firm trying to challenge an incumbent? o Describe the strategy of using “asymmetry of motivation” Midterm  Saturday, oct 19 4:30-7:00  Locations are posted on course website (must write in location posted for your lab)  Bring student ID and multiple writing instruments  Backpacks be left at the front of the room  Structure o 20 mc o 60 sa  15 sa question (2-6 marks) o = 80marks total  Tips o Read instructions Sample exam questions  What determines the power of substitutes in the Porter’s five forces model, what effect do substitutes have on profitability, and what can a firm do to address this force? (4 marks)  The factors that determine the power of substitutes are: o The number of quality substitutes (higher number = higher power) (1/2 mark) o And the ease of switching to them (lower switching costs = higher power (1/2 mark)  Impact on profitability: o As the price of substitutes goes down compared to your product, and it becomes easier to switch/switching cost decline, the greater the pressure you face to keep your price down/puts a celling on your price (1 mark)  To address the force of substitutes: o Convince customers that your product is unique and thus can’t be substituted (1 mark) o Lock customers in so that it is harder/costlier for them o switch (1 mark)  Explain how the elements that make the entrepreneurial process successful are similar to/related to the diamond-E. (3 marks)  The entrepreneur is similar to the management preferences and organization elements from diamond-E because he/she represents both the biases and the capabilities of the organization (1 mark)  The opportunity is similar to the diamond-E’s link to the environment. The entrepreneurial opportunity must make sense given the environment just as the strategy in diamond-E will only be successful if the environment support it (1 mark)  The resources of the entrepreneurial process are he same as the resources on the diamond-E – the firm must have the right amount and combination of resources to pursue the opportunity/strategy (1 mark)  Also acceptable: the entrpenrual process is similar o the diamond-E in theat the elements of the entrepreneurial process have to be consistent with each other for the process to be successful, in the same way that the variables in the diamond-E must be consistent and in alignment for organization to be successful (1 mark) Change in banking  Deregulation o Blurred lines between pillars  Changes in consumer demands o Higher returns, lower fees, better service  Competition from foreign banks o HSBC Bank of Canada • Canada’s central bank • Where banks go to get there money • Manages economy and regulates aspects of chartered bank operations • Manag
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