Hello, this is a summary for the second years course Strategy on the Radboud University. I included all lectures and subjects in it. It has (in my opinion) all of the important aspects of the course. Good luck studying!
Strategy - Radboud University
Lecture 1:
Wicked problem -> the more you try to solve it, the more complicated it becomes
Distributive nature -> giving up one advantage for others (balance)
Integrative nature -> seeing possible synergy
Lecture 2:
Identifying -> being aware of opportunities and recognize importance
Diagnosing -> understanding structure of the problem and causes
Understanding (conceiving) -> choosing the best solution
Achieve -> take concrete actions and evaluate them
Limits cognitive thinking:
- Limite to feel info
- Limite to process info
- Limite to store info
Analytical reasoning (Logic) = everything is analyzed, formulated and implemented on the
basis of facts. Bounded rationality and emotions play a part
Holistic reasoning (intuition) = intuitive thinking and creativity must be the driving forces
Dynamic capabilities = the ability to integrate competencies in changing environments
(sensing, opportunity, reconfiguration) The more complex the industry, the more important
D.C are.
Lecture 3:
Vision= what do you want to achieve (desired future)
Mission= Driving forces to steer in the right direction (how) (strategic choices)
Function mission: Direction, legitimization, motivation
4 elements; Purpose, philosophy or beliefs, values, business definition
Vision: expected environment, desired position, time horizon
Broad stakeholders; anyone who can influence the company
Narrow stakeholder; anyone on who the organization depends
Organizations should create shared value instead of profit
Externalities; social costs such as pollution
Lecture 4:
Industry -> look at supply side
, Market -> look at demand side
Sustainable competitive advantage = it cannot be copied, substituted or eroded by the
actions of rivals
Value chain = integrated set of value creation leading to the supply of product and /or
service offerings -> goal is adding value
Differentiation -> distinguish you from your competitors
Capability -> ability to exploit its resources
Competency -> set of skills that can combine different resources
I/O model = industrial organization model
Market adoption looks at what is needed -> focus on growth
REsource leverage -> what is the strength -> not looking at growth
Markets VS resources
Market adaption VS build on existing resources
Outside-in perspective -> organization adapts to the environment (market adaption) Look
through the eyes of customers
Inside-out perspective -> Strategies are based on organization’s strengths (resources)
Incremental dynamic capabilities -> continuous improvement
Renewing dynamic capabilities -> refresh, adapt and augment
Regenerative dynamic capabilities -> DC that can respond to other DC’s
Lecture 5:
Vertical diversification -> move forward or backward in your own industry
Horizontal diversification -> expand outside own industry
Reasons for diversification; resources, stimulants (incentives), managerial motives
Responsiveness VS synergy
Responsiveness -> noticing developments and taking chances (more costs & slower
decisions)
Synergy -> more than the sum of its parts, be related to each other
Internalization is about doing it yourself instead of outsourcing
Opportunity for synergy -> current synergy approach -> effectiveness of the approach ->
agenda for change
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