Business strategy: The concept and trends in its management - What is a business strategy?
19 important questions on Business strategy: The concept and trends in its management - What is a business strategy?
What is a segmentation strategy?
Name one example of an segmentation strategy
Market segmentation: Families, Singles.
Market segment Families-Flexible, safety, Singles- Young, style, more disposable income).
Target market:Families or Singles.
What is the criteria to select a business strategy?
2. Is the strategy feasible?
3. Will the strategy fit with the other strategies of the firm?
4.Is there a Sustainable compatible advantage?
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What is the SCA(sustainable competititve advantage?
Name three examples of a SCA
2. Monopoly- Free to set their own prices
3. Switching- Not handy, difficult (windows- apple)
What are the trends in strategies?
Pro-active strategies
Knowledge management
Why strategic management?
Force a long range view
Help a business cope with change
Provide both horizontal and vertical communication systems
What is a pro-active company?
What is a reactive company?
What are strategic uncertainties?
How many will be sold?
What will be the direct competitors?
What will be the future deman?
What is the customer as an active partner?
-Current, potential competitors
What is a competitor analyis?
What is the checklist for a SWOT?
innovation
Management
Marketing
How can you obtain information on competitors?
Search engines on the internet
Telephone survey
What makes a competitor vulnerable?
-Financial factors: High cost
- Product/market factors: slow/poor growth
-Managerial factors, inflexibility, loosing touch with customers
E-Business and high profitability ? What is the key?
For example google to dominate the web search
What is it when we talk about the boiled frog?
What are the three ways to react on a dramatically changing environment?
To respond quickly or slowly but reactively
To try to predict the nature of the changes and then manage them proactively.
What is the PESTLE/DESTEP?
E-Economic
S-Social cultural
T-Techhnological
E-Ecological
P-Political
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