Podcast
Questions and Answers
Who is responsible for steering the corporate strategy?
Who is responsible for steering the corporate strategy?
- Top management team (CEO, CFO, etc.) (correct)
- Heads of functional areas
- Managers of production facilities
- Middle management
What is the main focus of the business strategy?
What is the main focus of the business strategy?
- How to implement a chosen business strategy?
- How to compete in an industry and market? (correct)
- How to manage specific industry/market branches
- How to execute the business and functional area strategy?
Which level of strategy is concerned with executing the business and functional area strategy?
Which level of strategy is concerned with executing the business and functional area strategy?
- Operating strategy (correct)
- Business strategy
- Functional area strategy
- Corporate strategy
What is the main focus of the functional area strategy?
What is the main focus of the functional area strategy?
Who is responsible for steering the functional area strategy?
Who is responsible for steering the functional area strategy?
What is the main focus of the first half of the course?
What is the main focus of the first half of the course?
What is the relationship between functional area strategy and other subjects?
What is the relationship between functional area strategy and other subjects?
Who is responsible for steering the operating strategy?
Who is responsible for steering the operating strategy?
What is the purpose of decisions to enter or exit markets or products?
What is the purpose of decisions to enter or exit markets or products?
What type of actions can help a company defend against external threats?
What type of actions can help a company defend against external threats?
What is the purpose of actions regarding R&D, production, sales/marketing, and finance?
What is the purpose of actions regarding R&D, production, sales/marketing, and finance?
What is the goal of decisions that strengthen market position?
What is the goal of decisions that strengthen market position?
What type of actions can help a company gain market share?
What type of actions can help a company gain market share?
What is the purpose of collaboration with external parties?
What is the purpose of collaboration with external parties?
What type of decisions help a company seize opportunities?
What type of decisions help a company seize opportunities?
What is the goal of systematic decisions and actions?
What is the goal of systematic decisions and actions?
What is the primary focus of the 'Actions to gain market share by reducing costs' strategy in the business of Padel?
What is the primary focus of the 'Actions to gain market share by reducing costs' strategy in the business of Padel?
What is the main objective of 'Decisions that strengthen market position'?
What is the main objective of 'Decisions that strengthen market position'?
What is the primary focus of 'Actions to strengthen, build, or obtain resources and capabilities'?
What is the primary focus of 'Actions to strengthen, build, or obtain resources and capabilities'?
What is the main objective of 'Decisions to enter or exit markets or products'?
What is the main objective of 'Decisions to enter or exit markets or products'?
What is the primary focus of 'Actions to strengthen the bargaining position with suppliers'?
What is the primary focus of 'Actions to strengthen the bargaining position with suppliers'?
What is the main objective of 'Collaboration/Alliances with external parties'?
What is the main objective of 'Collaboration/Alliances with external parties'?
What is the main objective of 'Actions regarding R&D, production, sales/marketing, finance, and other core activities'?
What is the main objective of 'Actions regarding R&D, production, sales/marketing, finance, and other core activities'?
What is the main objective of 'Actions to identify and seize opportunities, and to defend against external threats'?
What is the main objective of 'Actions to identify and seize opportunities, and to defend against external threats'?
What is a key aspect of a company's values?
What is a key aspect of a company's values?
What is the primary purpose of a clear vision?
What is the primary purpose of a clear vision?
What is included in a company's external environment?
What is included in a company's external environment?
What is the role of strategic analysis in the strategy process?
What is the role of strategic analysis in the strategy process?
What is an example of a core value?
What is an example of a core value?
What is the purpose of a company's vision?
What is the purpose of a company's vision?
What is included in the internal environment?
What is included in the internal environment?
What is the relationship between a company's vision and its objectives?
What is the relationship between a company's vision and its objectives?
What is the relationship between intended strategy and realized strategy?
What is the relationship between intended strategy and realized strategy?
What is the focus of Honda's US-market expansion in the 1950s and 1960s?
What is the focus of Honda's US-market expansion in the 1950s and 1960s?
What is the characteristic of the emergent strategy?
What is the characteristic of the emergent strategy?
What is the main difference between intended strategy and emergent strategy?
What is the main difference between intended strategy and emergent strategy?
What is the outcome of Honda's strategy shift in the US market?
What is the outcome of Honda's strategy shift in the US market?
What is the role of values, vision, mission, and goals in the strategy process?
What is the role of values, vision, mission, and goals in the strategy process?
What is the basis of coordination in the emergent strategy?
What is the basis of coordination in the emergent strategy?
What is the characteristic of the realized strategy?
What is the characteristic of the realized strategy?
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Study Notes
Strategy Hierarchy
- Corporate strategy: how to compete in an industry and market, steered by top management team (CEO, CFO, etc.)
- Business strategy: how to implement a chosen business strategy, steered by management of specific industry/market branches of a company
- Functional area strategy: how to execute a business strategy, steered by heads of different functional areas (e.g., R&D, marketing, supply chain)
- Operating strategy: executes the business and functional area strategy, steered by middle management (e.g., managers of production facilities)
Strategy Process
- Successful strategy: effective implementation of a clear vision, values, and mission
- Values: norms, traits, and beliefs expected of management and employees, serving as a guideline for adhering to the company's vision and mission
- Vision: management's aspirations for the future, setting the course and direction for the long term
- Mission: a clear and concise statement of the company's purpose and objectives
- Goals: simple, consistent, and long-term objectives
Strategic Analysis
- Internal and external environment analysis: understanding the company's strengths, weaknesses, opportunities, and threats
- Intended strategy: top-down, cyclical, predetermined, and limited involvement of the organization
- Emergent strategy: bottom-up, continuous, adapted, and extensive involvement of the organization
- Realized strategy: partly proactive (intended) and partly reactive (emergent)
Examples
- Honda's US-market expansion: initially focused on 250 and 305 CC engines, but adapted to focus on 50CC engines and the mainstream market through major retailers
- Other examples: (no specific details provided)
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