Business Strategy

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  • Created by: hreaney1
  • Created on: 18-01-18 15:46

1. What is strategic drift?

  • Tendency for strategies to develop incrementally on the basis of historical and cultural influences, but fail to keep pace with a changing environment.
  • Commitment by the organisation to behave ethically and contribute to economic development while improving peoples quality of life.
  • High coordination of extensive activities dispersed geographically in many countries.
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2. What are supporting activities?

  • Help to improve the effectiveness of primary activities e.g. HRM
  • Directly concerned with the creation/delivery of a product or service e.g. ops.

3. What are competencies?

  • Activity or process that creates competitive advantage and the ability to add value
  • Suitability of resources and competencies that allow the firm to generate value
  • You have competencies and then resources, they come together to form capabilities.

4. What is an example of external capability development?

  • Alliances, acquisition and joint ventures
  • Build a culture promoting innovation

5. Whats a strategic alliance?

  • Purchasing majority shares in a target company
  • Where 2 or more organisations share resources and activities to pursue a common strategy
  • Combination of 2 separate organisations to form a new company
  • Benefits gained where firms complement each other e.g film and music
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