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study help
business
exploring strategy
Questions and Answers of
Exploring Strategy
What will the book do for you? LO1
What is entailed in reading it? LO1
What is strategy and why is this important? LO1
How do we discover the strategy guru hidden inside us? LO1
What is going on in the environment around your industry/market: the economy, technology, social trends, regulation etc? LO1
How much competitive pressure is there, and is it changing within your market and its dynamics? LO1
How do customers see your business, what value does it add relative to the competition, and what are the strengths of your customer base? LO1
What is the relative strength of, and threat of, competitors? LO1
What are your distinctive skills and other strategic assets (and weaknesses, too)? LO1
What do you really-really want to achieve out of it? LO1
Working backwards from the future, what steps might you have taken to get there? LO1
How has that exploited not just one but several interrelated and real competitive advantages? LO1
Where these are customer facing, to what extent do they appear irresistible? LO1
How easily and quickly and well can that be imitated by competitors, and how can you discourage that process? LO1
What’s the ‘one big thing’ that you have missed to take the strategy up a final level(the stunning plan)? LO1
Are we in too many businesses? LO1
How do we turn weaknesses into strengths and threats into opportunities? LO1
If we were a new entrant to our industry or a competitor, what would we do here? LO1
How can we attack competitors where they are weak and would find it difficult to respond? LO1
How can we achieve a truly dominant competitive position in this particular market? LO1
What would we do if we had no position in this market at all and were a fresh entrant? LO1
What are our strategic assets and how might we exploit them in new ways, and where? LO1
If we hadn’t got into this market, would we not regret it, and if we were to want to get out of it, how could we do this? LO1
Who are the stakeholders? lop4
Who is the ‘one big stakeholder’ that you have still forgotten? lop4
What is their level of influence? High, medium or low? lop4
What is their attitude? For, neutral, against? lop4
What, given these ratings, is their likely position on the grid? lop4
What pattern emerges? lop4
What influencing strategies can you come up with? lop4
What new positions are likely to emerge? lop4
How might their positions shift over time as the options move through the decisionmaking and implementation processes? lop4
How will you manage these issues and the stakeholders’ agendas through further influencing strategies? lop4
Where is the issue currently, within the buying cycle? lop4
What influencing has been done to date? lop4
Has this been effective or not, and if not, why? lop4
What could now be done to move it forward? lop4
Where are the strategies on that cycle? lop4
What has their trajectory been to date? lop4
Where do you think they might be going in future? lop4
What, if anything, should be done to influence that? lop4
To what extent is it top-down and what are the pros and cons of this? lop4
To what extent is it bottom-up and what are the pros and cons of this? lop4
To what extent is it horizontal and what are the pros and cons of this? lop4
What improvements can you see out of this for your planning process? lop4
How attractive/difficult to implement are these improvements? lop4
What are your KPIs re the customers? lop4
What are the key performance drivers re efficiency? lop4
What are the key performance drivers re financial performance? lop4
What are your key performance drivers re capability development? lop4
To what extent have these shifted over the last year (up or down) and what is this telling you? lop4
How did it go through the seven phases of change that we saw earlier? lop4
Which phases went well and how was this brought about? lop4
Which phases had the most difficulties and why? lop4
What was the overall result and to what extent was this affected by the way in which the process was managed? lop4
What are the most promising lines of enquiry, looking at it as if you were an alien entering this market for the first time? lo1
How attractive are these? lo1
Can a strong competitive position be built? lo1
Are you well placed to occupy that space with the strategic assets that you have/would this positioning and set of strategic assets be easy or hard to copy? lo1
If you did do this, how would or could this fit with the structure? lo1
For each of these markets, which is the most important force, and why? lo1
For each of these business areas, what are the CSFs for the players as a whole? lo1
How well does your own company stack up on these? lo1
What options does this suggest for strengthening your resilience? lo1
Does your business have a sweet spot?
Why and how does it exist?
Is it changing over time, and why?
What might be done to sustain it or refresh and extend it?
How would customers say (if at all) that they got distinctive value from your business? LO1
How important is it to them – and what value do they get? LO1
How certain are you that there aren’t competitors who could do more or less the same? LO1
Are there any areas in which you feel that you have distinctively low costs and that these are areas that competitors can’t match? LO1
What have been the breakthroughs in your organization that have founded its current competitive position? LO1
Were these deliberate and planned, largely accidental, or somewhere in between? LO1
What do you think the merits of having a more deliberate process might be? LO1
What future breakthroughs – in your imagination – might take your organization to another level? LO1
How might you set about developing these embryonic ideas in an imaginative way? LO1
What are the key strategic options?
What is the most cunning way of implementing them?
What are their scores on the strategic option grid?
How can these scores still be improved?
What do you see as being their resilience?
What is the significance of the scores?
Should we weight them, and if so, how?
For the exercise that you just did above, what relative importance do you place on each of the criteria?
Were you to weight your criteria as we discussed, would the overall score and evaluation shift significantly?
For a number of business units, where would you position these on the strategic option grid – in the different columns?
What do the resulting positions show you about the strategic attractiveness of your business?
What are the key external assumptions?
What are the key internal assumptions?
How do these break down into sub-assumptions?
How important are these?
How uncertain are these?
Where these are both ‘very important’ and ‘very uncertain’, are these so closely and mutually dependent that the uncertainty effect could be magnified?
What might you do to counter, avoid or minimize the effects of those most volatile assumptions?
Taking each strand of the optopus in turn, what are the options that you can generate?
Now, using the ‘pick and mix’ approach, what bundles of very plausible option groupings exist?
Also, taking some implausible options and the same ‘pick and mix’ approach, what potentially interesting possibilities of an unlikely nature come to light?For a number of these ideas, how do they
Using the optopus, what lines of enquiry can you generate for your business?
What further combination that might be interesting can you come up with via a ‘pick and mix’ approach?
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