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15 Cards in this Set
- Front
- Back
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What are Mintzberg five defination of Strategy? |
1. Plan - well thought out plan 2. Pattern - continue to offer cheap 3. Ploy - agressive price cut 4. Position - in market 5. Prespective - culture of business |
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What are the three levels of Strategy in a business? |
Corporate Business Functional |
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Define SMART |
Specific Measurable Achievable Relevant Timely |
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Steps of rational/Formal model of Strategy |
1. Set Mission 2. Establish Objective 3. Strategic Analysis 4. Evaluation & Choice 5. Implementation 6. Review & Control |
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Druckers 5 fundamental questions? |
1. What is our mission 2. Who are our customer 3. What us our plan 4. What are our results 5. Wat does our customer value |
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Ansoff matrix |
Market penetration Product development Market development Diversification |
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Mendelow Matrix |
Ref stakeholders; Minimal effort Keep informed Keep satisfied Key players |
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Cyert and March |
Managing stakeholders conflict Sequential attention Satisfying - negotiate to resolve Side payment Exercise of power |
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How do "Not for profit" organisation measure objectives |
3 E's 1. Effective - look at ouput 2. Efficiency - links input and output 3. Economy - input $$ |
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What is Mintzberg Emergent Approach |
Intended strategy = Unrealised OR Deliberate. OR an Emergent strategy comes into place = Realised strategy |
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What are the two incremental approaches to strategy |
Meddling through: no strategy (look & see ) Logical incremental: similar to rational but in TINY steps |
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Free wheeling opportunism |
- Not have a plan - react to environment/ market and what they want - great for dynamic environment - mostly short term focus |
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What is Mintzberg strategy Safari |
Set of schools x3 prescriptive (how strategy should be developed) and 7 x decriptive (what happens in reality) |
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Strategy Safari - types of Prescriptive schools |
1. Design - developed in rational process's seeks to establish fit between internal capabilities and external possibilities 2. Planning - specialist science - rigorous planning methodology 3. Position - combo of defensive and offensive. Industry structure drives strategy positing which drives organisation structure |
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In strategy Safari by Mintzberg what are the descriptive schools |
1. Environmental - similar to free wheeling, react to market 2. Cognitive - mental - understand market through how mind works 3. Enterprenual- vision of enterp. Become strategy of business 4. Power- key player I'm business decide strategy as they hold all power 5. Cultural- focused and based on values 6. Learning - strategy through trial & error 7. Configuration - transform business from one state to another =Fail to success |
