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MAN 320F Exam 2 Questions and Answers
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MAN 320F Exam 2 Questions and Answers
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MAN 320F Exam 2 Questions and AnswersWhat is the blue ocean strategy - Answer -go where the profits and growth are and where the competition isn't
Technology and Globation - Answer --info on products and prices will be immediately available
-meaning accelerated commoditization (when brands become more similar, people buy on price)
-Therefore, niche markets and monopolies quickly dissapear
Products and services introduced recently - Answer --Iphone in 2007 (1 billion units have been sold)
-Ipad in 2008 (450 million units)
-Instagram in 2010 (850 million units)
Things about the IPod that are important - Answer --a blue ocean strategy
-looked beyond the "tradition" customer (looked at non-customers who refused the IPod
but had other means of listening to digital music, also looked at non-customers who had
never considered an IPod or other forms of digital music)
What does blue ocean mean? - Answer --create new group of consumers, don't take away from a swindling group
-create an industry not in existence today
-most blue oceans are created from within a red ocean by expanding existing industry boundaries
what are the two main reasons why a venture capitalist will NOT invest in a deal? - Answer -1) management team (they do not believe in them)
2) the do not see a potential return on investment
What are two successful Austin companies - Answer -Whole Foods and Dell Computer
What are the six key success factors? - Answer -market opportunity X 6
Red Ocean Strategy vs. Blue Ocean Strategy - Answer -red ocean- compete in existing market space, beat the competition, exploit existing demand, make the value/cost trade off, align the whole system of a firm's activities with its strategic choice of differentiation or low cost
blue ocean- create uncontested market space, make the competition irrelevant, create and capture new demand, break the value/cost trade off, align the whole system of a firm's activities in pursuit of differentiation and low cost
Some questions to raise with Cirque du Solei - Answer --is it a real circus after all they have eliminated?
-is it theatre? If so then what genre?
-is is a little of all of the genres and non of any of the genres all at once?
-what industry does it fall into?
-why do they compete with?
Winning strategic approaches for Cirque du Solei - Answer --involves value innovation, value (cost, utility, and price position), creation and innovation
-reduce the cost and increase the value for buyers
-break the value cost trade-off, add value and reduce cost by enhancing a limited set of key factors and reducing or eliminating all other "traditional" factors
Strategic thinking at toyota - Answer --first to introduce a commercial hybrid car in 1997
-gas averaging $1.10 a gallon
-only 300 sold in first year vs. 11 million by 2017
-today, toyota market leader
-strategic thinking took place because theirs a rising demand for energy and they saw there was a limited supply
What is strategy - Answer --a strategy is a long term plan for success
-strategy is concerned with deciding what business ventures to take
- ***a sustainable competitive advantage over long term***
strategic plan - Answer -a comprehensive plan that identifies the critical direction and guides the allocation of resources of an entire organization
What is the broad environment consist of? - Answer -socio-cultural forces, technological
forces, economic forces, political/legal forces
What are some major sociocultural issues/forces in the US - Answer --roles and policies
of government
-immigration
-terrorism and security
-importance of role of army
-global energy
-foreign investment ownership in the US
what are some global economic forces? - Answer --economic growth
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