Exam (elaborations)
Admn 232 Final QUESTIONS AND ANSWERS.
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Admn 232 Final QUESTIONS AND ANSWERS.
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Admn 232 FinalCooperative-level Strategy
1. Portfolio Strategy: A strategy that minimizes risk by diversifying investment.
2. Grand Strategy: A strategy that aims for goal achievement and guides strategic alternatives
to managers.
Grand Strategy
1. Growth Strategy: A grand strategy that focuses on increasing revenue, profit, and market
share.
2. Stability Strategy: A grand strategy that focuses on improving the way of selling same
products or services to same customers.
3. Retrenchment Strategy: A grand strategy that focuses on turning around very poor
performance company by shrinking size of business.
Industry-level Strategy
1. 5 Industry factors
2. Positioning Strategy
5 Industry factors
1. Competitive Rivarly: A measure of intensitiy of competitive behavior.
2. Threats of New Entrants: A measure of how entry of barriers make it easy or hard to new
companies to start in an industry.
3. Threats of Substitute Products or Services: A measure of how easy it is for customer to find
substitution products or services.
4. Bargaing Power of Suppliers: A measure of how much suppliers who provide materials, parts,
or servcies can influence a firm.
5. Baragaing Power of Buyers: A measure of how much customers can influence a firm.
Positioning Strategy
, 1. Cost Leadership: Producing products or services at an acceptable quality and lower cost than
competitors, so the firm can have the lowest prices in the market.
2. Differentiation: Producing products or services sufficiently different from competitors, so that
customers are willing to pay a premium.
3. Focus Strategy: Producing products or services by using cost focus or differentiation to target
specific customers in a particular geographic area or market.
S-curve Pattern of Innovation
A pattern of technological innovation starts with slow initial progress, then rapid progress, and
then slow progress again as technology reaches its limits.
It requires maximum effort at the beginning, a little effort at midway, and then a maximum effort
again.
Innovation Streams
Patterns of innovation that can create sustainable competitive advantage.
Technological Discontinuity (기술적 불연속성)
The phase of an innovation stream in which existing technologies create a breakthrough in
performance or function.
기존에 있는 기술이 기능이나 성능의 주요 돌파구를 만들어냄
Technological Lockout
When a new dominant design prevents a company from selling its products or makes it difficult
to do so.
새로운 지배적 디자인 (Dominant Design)이 경쟁적으로 판매하기 어렵게 만듬.
Incremental Change (점진적 변화)
The phase of technology cycle in which companies innovate by lowering costs and improving
performance of the dominant technological design.
Technology Cycle
A cycle that begins with a new technology and ends when that technology reaches its limits and
is replaced by a newer and better technology.
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