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strategic management 5th
Strategic Management 1st Edition Colin White - Solutions
Has the speed of uptake of e-commerce been much slower than originally envisaged? If so, why is this?
Why should the development of B2B be so much faster than B2C?
Take your own organization, select a well-known organization or choose the university in which you are pursuing your studies or, if you have the time, consider each of these organizations in turn.Apply the strategic canvas method to show:1 What attributes the organization presently focuses on.2 How
6 Choose an organization and show how the performance indicators relevant to different stakeholder groups might themselves differ
5 Select key performance indicators which are specific to five different industries and show why these indicators differ.
4 Consider the three scenarios set out below and choose what you think is a suitable response.a. You are a university lecturer responsible for an important subject in a masters course which all students must pass. You have been receiving gifts, which have been rising in value, from students
3 Using Table 18.6, choose an organization of which you have good knowledge and indicate where on the diagram each of its stakeholder groups is to be found.
2 What would a complete balanced scorecard look like? Apply the balanced scorecard approach to any enterprise which is the subject of a case study in this book and indicate what a balanced score card evaluation would look like.
1 Define the following terms: monitoring, measuring, benchmarking, a strategic canvas, a balanced scorecard, a strategic management system, lagging indicators, leading indicators, key performance indicators, leverage or gearing, market value added and corporate social responsibility.
5. How important is the FDA, the US regulatory agency, in shaping strategy in the pharmaceutical industry?
4. What strategy should ImClone adopt in order to rescue itself from its present troubles?
3. Assess the relative risks and returns which are associated with the strategy adopted by ImClone on the development of the drug Erbitux.
2. What has been the strategy of Imclone? How far has ImClone the core competencies which would justify the strategy it has chosen?
1. What resources or capabilities has Imclone and what has been the potential to make these strategic, in other words to translate them into core competencies?
5. Has Sony in its present strategy found the appropriate balance between hardware and software?
4. What are the differences between the industries based on electronic hardware and entertainment software in terms of the mix of strategic thinking, management and planning?
3. What prompted Sony’s change of strategy which began in the late 1980s? What implications did this change have for the nature and structure of the company?
2. How did Sony manage to sustain a continuing competitive advantage in the area of consumer electronic technology?
1. In what ways has Sony differed in its strategy making from the way in which strategy was usually developed in the old model in Japan?
How do I check that my strategy is being successfully formulated and implemented?
One framework for examining the implementation of a strategy and judging whether all the different factors are fully aligned with each other is the 7-S model, developed by McKinsey & Company. Choose either an enterprise with which you are involved or an enterprise in one of the extended case
7 Give at least one example of bad strategy making with which you are familiar. What was the cause of the problem?
6 Consider an example of conflict which has become uncontrolled and had a negative effect on strategy making. How far could this have been avoided? How far could the conflict have had positive rather than negative results?
5 Select five well-known CEOs. How far was their reputation built upon the formulation and implemen tation of a successful strategic plan and/or the application of creative strategic thinking?
4 What are the boundaries which exist between different units within an organization and between an organization and the outside world? What effect do these boundaries have on the process of strategy making?
3 Consider one enterprise which has put in place a specialized division or unit responsible for strategy making. What are the advantages and disadvantages which have flowed from this decision? What place might this division occupy in the overall organizational design of the company?
2 Under what conditions would the classical approach to strategy be regarded as an accurate account of the strategy-making process and in particular the implementation of a strategy?
1 Define the following terms: tokenism, vertical fracturing, horizontal fracturing, rent seeking, iteration, time pacing, event pacing and lean production.
5. How far has it been and is it now necessary for Toyota to change its business model and strategy?
4. Why is it so difficult to imitate the Toyota strategy and business model?
3. How far has Toyota succeeded in transferring its business model and strategy overseas?
2. How far has Toyota succeeded in combining its policies on production, purchasing and new product development into a coherent strategy to achieve a sustained competitive advantage?
1. How far has Toyota conformed to the old-style Japanese strategic model and how far has it always pioneered a new model?
5. How successfully is SAB implementing its strategy for growth?
4. What are the advantages and disadvantages of a beer company diversifying into other forms of beverage production and sale?
3. What are the advantages and disadvantages of South Africa as the home country of a global beer company?How can the disadvantages be played down?
2. What are the main determinants of the mode of entry by beer producers into the various parts of the global market? Consider the best mode of entry into each of the following markets – China, the USA and India. In particular, what are the likely differences in entering developing and developed
1. Consider each of the different modes of entry into a foreign market and show how a beer company wishing to expand might evaluate each of them.
4 Consider in turn each of the following questions.How far does the strategy conform to the classical view of strategy? How far is the strategy emergent?How far has strategic success reflected either type of strategy making?
3 Indicate the main characteristics which would distinguish a classical from an emergent strategy.
2 Do a detailed strategic audit on the enterprise.
1 Select an enterprise which has successfully pursued a good strategy for a number of years. The enterprise can be in any sector of the economy and any size.
6 Consider the organization for which you are currently working or one with which you are familiar.Assess how well that organization is encouraging a creative approach to the formulation and implementation of strategy.
5 What is it that ‘emerges’ in strategy making?
4 Under what circumstances would the resource-based approach be a better starting point for strategy making than positioning? Under what circumstances would the positioning approach be a better starting point?
3 How might you define a discrete stage in strategy making? How useful is it to make such a separation and think in terms of discrete stages?
2 What are the resources needed in order for an organization to be able to develop the core competency of good strategy making?
1 Define the following terms: responsive creativity, proactive creativity, serendipity, staging, rolling plan, strategic phase, learning, discovery, emergent strategy and core strategy.
5. What do you think is a desirable strategy for Nokia today?
4. How has Nokia managed to encourage creativity while at the same time maintaining the financial and governance controls needed to keep the company efficient?
3. What accounts for the stunning success of the second strategy adopted by Nokia? How far is it to be explained by the technical virtuosity of Nokia?
2. In each case, what were the reasons for the adoption of the particular strategy and the two changes of strategy?
1. Distinguish the three strategies which have been developed by Nokia in its short history.
5. How would you, as a strategist, deal with the problems which are now confronting GE?
4. Which of the various schools of strategy best describes what has been experienced at GE?
3. What is the relationship between structure and strategy in the history of GE?
2. What do we learn from the experience of GE about the role of the leader in strategy making?
1. In what areas of strategy making has GE been a pioneer?
4 Consider how far each of the top ten has the characteristics of a global enterprise. Indicate with a plus or minus whether the enterprise has those characteristics.
3 Take each of the characteristics of a world enterprise and choose an operational threshold which will satisfy each.
2 List the ten largest enterprises in the world, defined in a consistent manner.
1 In what sense could there be said to be global or world enterprises?
6 What have been the advantages and disadvantages of the use of joint ventures as a mode of entry into the Chinese market? Are these typical of the situation of joint ventures elsewhere in the world?
5 Choose an industry with which you are familiar. List as many mobile, created assets as you can. Repeat the exercise for location-specific assets. Which are more important? Explain why the mix might differ from one industry to another?
4 How does the operation of a global value chain affect the strategy of a multinational enterprise?Illustrate from the experience of one company.
3 ‘If it were not for market imperfections, the obvious mode of entry would be through exports.’ In what sense is this true? List the market imperfections which cause this to be true. How do such imperfections cause the desired mode of entry to differ from industry to industry? Choose at least
2 How do ethical issues influence the choice of mode of entry? Consider an example of entry in which ethical issues were important. How important were such ethical issues in the making of a choice?
1 Define the following terms: mode of entry, participation strategy, licensing, franchising, portfolio investment, foreign direct investment, joint venture, greenfield development, created assets, locationspecific assets and internalization.
5. What are likely to be the main factors relevant to a scenario-building exercise for the Chinese automobile industry? Note in particular the forces of change, the predetermined elements and the critical uncertainties
4. What is the present place and likely future place of China in the world automobile market?
3. What is the impact of entry into the WTO likely to be for the Chinese automobile industry?
2. Who are the main strategic players in the Chinese automobile market? What is likely to be the influence of their strategies on the mode of entry into the Chinese market?
1. What are the arguments relevant to the automobile industry in favour of creating joint ventures and the arguments against?
distinguish between country-specific assets and enterprise-specific assets
3 Consider what kind of risk management strategy should be adopted. What specific measures need to be taken according to this strategy? What is the usual practice in investments of a similar kind?
2 What are the likely returns from this project? What are the likely sources of risk? What sort of events are likely to generate risk? Analyse the nature and levels of industry and country risk. Evaluate the level of risk attaching to this kind of investment.
1 You are considering undertaking a new investment project to be implemented in a particular industry and a particular country with which you are familiar.First choose the industry and the country, and the exact nature of the investment.
6 In the process of scenario building, risk arises from the existence of critical uncertainties. What are the critical uncertainties which are likely to be important in the following industries over the next five years?Airlines Wine Pharmaceutical Automobile Computer software Banking Share broking
5 Consider the Euromoney formula for assessing country risk. Answer the following questions:• The use of a formula assumes the usefulness of a synthetic index. What are the advantages and disadvantages of using such an index?• How might you adapt this formula for FDI rather than portfolio
4 Imagine that you are considering an investment project in a particular industry in a particular country.You choose both the industry and the country. How would you deal with the issue of country risk? Do you carry out an assessment yourself? If you do, how would you do this?
3 Distinguish risk-generating events which occur at different levels – the global, the national, the industrial and the enterprise levels. In your view which of these levels is characterized by the highest risk? Does the answer to this question differ according to the economic sector under
2 From your own experience, or the experience of an organization with which you are familiar, give examples of business policies which fall under the headings risk avoidance, risk management and risk mitigation. If there are no such specific policies, in what other ways are policies shaped by the
1 Define the following terms; a risk-generating event, risk avoidance, risk mitigation, risk management, adverse selection and moral hazard.
5. How should those coming to a foreign country deal with the existence of what are commonly regarded by those outside as corrupt practices? Is there a consistent strategy which should be applied?
4. What is the likely future for economic development in Botswana?
3. What are the implications of the AIDS epidemic for the making of strategy by i. enterprises wishing to invest in Africa, ii. African enterprises, and iii. the governments of African countries?
2. Indicate what future scenarios are likely for Africa given different assumptions about the trajectory of the AIDS epidemic. Indicate carefully what are i. the forces of change, ii. the predetermined elements, and ii. the most important critical uncertainties.
1. What are the main features of the risk environment in Africa? How important is the political environment for international business?
distinguish between the management and mitigation of risk
3 Give as many examples of the breakdown of such an alliance as you can and the reasons for the breakdown.How far was the nature of the partner responsible for this failure?
2 How important is the nature of the partner to the effectiveness of the alliance? Give reasons for your assessment. What are the characteristics of a good partner in such a strategic alliance?
1 Choose an example of a strategic alliance with which you are familiar, which has been in existence long enough to test its effectiveness. In what circumstances did the alliance arise? How extended were the negotiations? How well did the partners know each other before the alliance?
6 Give an example of a network and/or an example of a cluster other than those in the wine industry.Describe the origins, history and main features of the network and/or cluster.
5 Under what circumstances might opportunism be a reasonable strategy for an organization to pursue?What are the losses which result from an opportunistic strategy? How might these losses be avoided?
4 Construct an illustration of a prisoner’s dilemma to illustrate a common strategic situation faced by decision makers in any organization, other than those indicated in the text of the chapter.
3 In what sectors of the economy would you expect cooperation to be given more emphasis than competition?Use the conceptual framework introduced in this chapter to identify these sectors. Give your reasons for the particular selection made.
2 Focus on a sector of an organization of which you have good knowledge. Identify as many examples of the ‘commons’ as you can at the different levels of the economy relevant to this particular sector:i. Within the organization ii. Within the industry in which that organization is located iii.
1 Define the following terms: the commons, free riding, zero-sum game, game theory, the prisoner’s dilemma, horizontal alliances, vertical alliances, joint venture, networks and alliance capitalism.
5. Do the larger Australian companies need to become international players? The wine industry comprises two basic activities –growing grapes and wine making. There are enterprises which specialize in growing grapes and do not make wine and enterprises which make wine but purchase all or most of
4. What changes are likely in the mix of cooperation and competition which has characterized the industry? The wine industry comprises two basic activities –growing grapes and wine making. There are enterprises which specialize in growing grapes and do not make wine and enterprises which make
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