1. What is strategy? What isn’t strategy?
According to word of play text strategies are choices (bundle of choices)
2. List several ineffective ways to approach strategy.
3. Should winning be at the heart of any strategy?
Yes. If you don't play to win, don't play at all. Satan didn't play to win it played to have a holding position in the environment net effect- it disappeared.
4. What are the 5 choices of strategy?
What do you play, how do you play, what are your capabilities, how do you measure?
5. What is the nested choice cascade?
You ask these at the senior level but they cascade down
Corporate level, business level, functional level strategies
6. Describe the ...view middle of the document...
The strategies we start with aren’t always the ones that stay.
13. Know how to interpret an options matrix.
Given weighted values or rankings based on scoring of different criterion across options. Or fill in the blanks
14. Understand reverse-engineering of strategic options.
15. Be able to illustrate and understand – What is a winning aspiration, Where to play, What capabilities must be in place.
Eg- briefly summarizes the 5 questions for this case.
Coke and Pepsi- (see recording for questions)
16. What is the purpose of an environmental analysis?
To understand the opportunities in the market place, to discover an occupied space, to take and look at political, economic socio culture and technological strengths to understand the landscape.
17. What are the major components of the broad environment? PEST Analysis
18. What is the difference between scanning, monitoring, forecasting and assessing the environment?
Funneling down- the process of taking something big and bringing it down to so why do we care about this.
19. What defines an industry?
Groups of organizations that compete with each other.
Definitions can sometimes be too narrow, sometimes be too broad. Eg- coke and pepsi carbonated soft drinks? But have water, coffee, so beverage industry? Do we define hotel industry with Air bnb?
20. What determines the attractiveness of an industry?
Drugs vs Airline industry- it's the nature of the industries- deeper conversation about 5 forces. Monopolistic industries are not profitable than competitive industry. The industry is a lot more attractive and viable in terms of future opportunities of cash flow.
21. Can an organization be profitable in an unattractive industry? Why or why not?
Yes, Southwest does well when other airlines are going bankrupt.
22. What is the purpose of analyzing an industry structure?
23. What are the differences between a monopoly, oligopoly, duopoly, and perfect competition? Chart
Its about differentiation, information availability etc
24. What are the various aspects of a Porter five forces analysis?
25. When does each of the five forces have power? Know when buyers, suppliers, new entrants, and substitutes are powerful.
26. What is coopetition?
27. In game theory what are substitutors and complementors?
In 5 forces- substitutes are outside of the industry. (Indirect competitors) Beer for pepsi or water for pepsi
In game theory anything that's an alternative is a substitute (direct competitors) Coke for pepsi
Game theory wants to have a broader definition, it wants to create collaboration instead of competition.
28. What does the value net allow you to do? What are the elements of the game?
Value net is the notion of complementors and substuitutors, it talks about elements and...