The Nature of Strategic Management 5.0 / 5 based on 2 ratings ? Business ManagementStrategic ManagementUniversityAll boards Created by: Bethany KeyesCreated on: 08-05-17 20:51 What is Porter's strategy equation? Strategy + operational effectiveness = operational success 1 of 7 What is operational effectiveness? Performing similar activities better 2 of 7 What 3 sources do strategic positions emerge from? Variety-based positioning, needs-based positioning and access-based positioning 3 of 7 What is value-based positioning? Producing a subset of an industry's products or services 4 of 7 What is needs-based positioning? When a group of customers have differing needs and so the organisation tailors a set of activities to serve those needs 5 of 7 What is access-based positioning? A function of customer geography or scale or of anything that requires a different set of activities to reach customers in the best way 6 of 7 What is strategic fit? (Porter) The degree to which an organisation is matching its resources and capabilities to the opportunities in the external environment 7 of 7
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