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10 Cards in this Set
- Front
- Back
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What kinds of COMPANY PROBLEMS call for strategy consultants? (8)
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- VISION & MISSION: vision is an articulation of what the company wishes to become, mission is the corporate purpose/areas of business you are competing (this must change in reaction to the environment
- CORPORATE & BUSINESS STRATEGY: strategy as whole or for individual sub-units - PORTFOLIO STRATEGY: look at the bundle of companies that you own and get rid of things (divest) or acquire things to diversify - INDUSTRY LANDSCAPE: look at the technology within the industry compared to your own - COMPETITIVE DYNAMICS: always keeping an eye on competitors and keeping up in a fluid environment - GROWTH STRATEGY: what do you need to do to grow (e.g. McD's and breakfast options) - CHANGE MANAGEMENT: evaluate to change and get to a future state (i.e. what do you have to do?) |
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What TOOLS do strategy consultants use to address the company problems? (10)
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MODELS:
- STAKEHOLDER - GENERIC STRATEGIES - TRANSITION STRATEGIES - 7-S/CONTINGENCY/MCKINSEY - CONGRUENCE/MERCER DELTA ANALYSIS: - TREND: different purchase and sales trends - INDUSTRY: like 5 forces model - M&A: growth - GAME THEORY: How to respond when your competitor takes a specific action OTHER: -EXPERIENCE/USP: "Unique Sales Proposition"; why should anyone buy your product? |
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What are the main parts of the SEVEN-S model? What are the hard and soft Ss?
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HARD:
- STRATEGY - STRUCTURE - SYSTEMS SOFT: - SHARED VALUES - SKILLS - STYLE - STAFF |
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What are the main parts of the MERCER DELTA/CONGRUENCE model?
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INPUT:
-ENVIRONMENT -RESOURCES -HISTORY These are the precursor to the STRATEGY. STRATEGY leads to: - WORK - PEOPLE - INFORMAL ORGANIZATION - FORMAL ORGANIZATION This leads to the OUTPUT. OUTPUT: - SYSTEM - UNIT - INDIVIDUAL |
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WHO are the strategy consultants? Give examples of companies.
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- GENERAL consultants: generalists, could be anybody
- STRATEGY consultants: McKinsey - CHANGE MANAGEMENT consultants: Quest Worldwide - ORGANIZATION consultants: Mercer Delta |
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What is the future of Strategy Consulting according to David Nadler? to Michael McLaughlin?
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Nadler:
- quickly losing relevance and value - accelerated product life cycles and global nature McLaughlin: - bedrock of the industry - best strategy teams have a mix of strategy and implementation backgrounds |
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What KINDS of company problems call for MARKETING consultants?
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- MARKET ASSESSMENT: competitors, who are the major players that can sell stuff, THIS MUST BE DONE FIRST
- MARKET SEGMENTATION: break up consumer group by demographics and psychographics (how people think); age, region, race, etc. - MARKETING STRATEGY: 4Ps - PRODUCT LIFE CYCLE - PRICING DECISIONS - GO-TO-MARKET METHODS: looking at your sales channels, how will you distribute your goods? - TIME-TO-MARKET METHODS: SCM, logistics, outsourcing, distribution centers - CRM METHODS: "Customer Relationship Management"; Maintain relationships with customer (one-on-one marketing), maintain customer preference and how you deliver it |
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What TOOLS do MARKETING consultants use to address the company problems?
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- MARKETING PLAN (4Ps)
- SEGMENTATION ANALYSIS - ROI ANALYSIS - NEW PRODUCT PROCESS: Formulation of ideas, different steps to getting your new product out -BRAND ANALYSIS - ADVERTISING CPM ANALYSIS: "Cost per thousand (MM)", advertising costs spread over audience. The lower the cost, the better. - PRICE MODELING - CROSS- ELASTICITY - COMMISSION STRUCTURE - CUSTOMER SERVICE SURVEYS - CRM METRICS - BUSINESS DEVELOPMENT |
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WHO are the Marketing consultants? Give examples of companies.
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-GENERAL MARKETING consultants: Copernicus
- SPECIALTY MARKETING consultants:Strategic Pricing Group -INDUSTRY ORIENTED consultants: IMS Health - MARKET RESEARCH consultants: NPD (they set up marketing research panels) |
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What is the future of Marketing Consulting according to Philip Kotler?
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Need to help companies cope with:
- de-emphasizing product sales in favor of share of wallet (Is my product going ot be part of your wallet spending?) - managing lifetime value of a customer (easier to retain customers than get new ones - cost efficient) |
