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22 Cards in this Set

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  • Back
Romantic Perspective
inplicit assumptiuon is that the leader is the key force in determining success.
6 characteristics of a good objective
flexible
stretching and motivating
measurable
achievable
agreeable
understandable
What is the I/O model?
says that firms must identify and acuire skille and resources to achieve profitablity along with segments in the market.
Romantic Perspective
inplicit assumptiuon is that the leader is the key force in determining success.
How do operational effectivnes and strategy differ?
Operational effectivness is doing similiar activities better than your rivals

Strategy is preforming diffrent activities in a diffrent way (ie southwest, dell, star bucks)
Resource-based model
says that a company should first develop resources and skills to take advantage of opportunities in their industries.
external control perspective
rather than thinking the leader is the most important factor, the focus is on external factors that may affect firm's success
Variety based positioning
offering unique set of goods or services
(ie chick-fl-a)
Whis model beleives external enviroment imposes constraints I/O or resource-based
I/O
External enviroment
looks for oppprtunities and threats
Symbiosis
recognizes that the stakeholders are dependent on each other for their success.
Internal enviroment
streatgths and weaknesses
Corporate level stratigies
addresses the issues concerning a firm's portfolio (or group) of businesses.
What are the 5 prominent stakeholders
customers
employees
suppliers
community
owners
access based positioning
serving a set of cutomers that require a unique access
(kinkos)
straddling
trying to carry two positions at once
(ie Continental airlines)
Symbiosis
recognizes that the stakeholders are dependent on each other for their success.
Why is growth problematic?
1 firm might not have the capital to expand
2 might lack the technology
3 expanding creates more costs
4 loses its uniqueness and/or original target market
What are the 3 types of positioning
variety-based
needs-based
access-based
Objectives
they turn mission statements into performance outcomes
How do firms achieve strategic effectivness?
1 consitent long term goal and objectives
2 understanding for the enviroment
3 takes resources into consideration
4 effectively implements production
What to remember when setting objectives?
what does the industry allow
what does it taker to succeed
what can be accomplished
does it support out mission?