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BPL 5100 - MIDTERM REVIEW EXAM 2024
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BPL 5100 - MIDTERM REVIEW EXAM
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BPL 5100 - MIDTERM REVIEW EXAMWHAT IS BUSINESS STRATEGY LEVEL VS. CORPORATE LEVEL STRATEGY? -
Answer -BLS:
How to position a firm in an industry.
- how to get a competitive advantage
- how to pick-up a strategy (low-cost or differentiation)
CLS:
- In what business are we in? Example: Avon (although Avon has a presence in fashion
and jewelry, Avon are in cosmetic business)
- Many industries
- Acquisition / Diversification / JV / Integration
DEFINE COST-LEADERSHIP STRATEGY? - Answer -Cost leadership strategy is the
ability to lower the costs.
Ans.: Decision on how to lower the costs (production) and then to sell goods or services
at a cheapest price.
PEOPLE ARE IN THE HEART OF STRATEGY, HOW HUMAN RESOURCE CAN
ENABLE THE SUCCESS OF STRATEGY? - Answer -Ans.:
- Human Capital (Talents) --> Intellectual Capital (intangible resources)
- Skills and Experiences
--> monitor behaviors (team work)
--> improve skills to training, couching, mentoring, and etc.
--> design a specific structure for these strategy and people.
WHAT DO YOU MEAN BY "THE NATURE OF THE ENVIRONMENT"? HOW CAN WE
IMPROVE ON UNDERSTANDING IT (difficult to predict = uncertainty)? - Answer -Ans.:
difficult to predict = uncertainty
--> External environment = industry
--> Trends and changes of the industry
--> Environmental scanning/mentoring/forecasting.
DEFINE STRATEGIC MANAGEMENT? - Answer -ANALYSIS --> FORMULATION -->
IMPLEMENTATION --> ASSESSMENT
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