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Bu-481 Business Policy, Section C

Lynn Gazzola, Class 6


Practice Quiz Q&A:
One of the ways in which a general manager creates value for the organization is
by Identifying emerging opportunities for the organization
Collectively, the vision mission and values of an organization are intended to
Inspire the org and provide direction on how to achieve its goals
Key activities for firms that compete on the basis for cost would include
Supplier relationships and logistics
15% return on investment and a reduction in reflection rates are examples of
Hard goals
Strategic tension refers to the constraints that exist between what an organization:
Should do and what it can do
The strategy environment linkage aligns:
Strategic opportunities and challenges with external forces
New entrants forced to enter an industry at a larger scale than they would have
preferred are facing barriers as
Economies of scale
The purpose of an organizational value chain is to demonstrate
How the activities contribute to costs
An organizations value proposition is based on
Customer appeal and competitive differentiation
If an organizations fixed costs are relatively high then the strategic focus is on:
Maximizing throughput

Have to have both operational effectiveness and strategy in order to win in


the long term

Generic Strategy: Low Cost


-

Cost leadership being able to offer a product at a lower cost than


competitors (having a better cost structure in order to offer a similar
product/service for a better price)

Generic Strategy: Focus


-

Product or service focussed on the need of a particular buyer group, segment,


or geographic market
Built around serving a particular market VERY WELL either more effectively
(differentiation) or efficiently (cost leadership)

There are 3 different positions


1. Variety: offering everything needed for a target (Jiffy Lube)
2. Needs: providing what is demanded
3. Access: making it accessible
Figure out generic strategy before position, because it will help to get to end goal
faster as you can figure out if current objectives are meeting strategy

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