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BPL 5100 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL 5100 Exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100% VerifiedSuccessful Strategy - Long-term, simple and agreed-upon objectives
Profound understanding of competitive environment
Objective appraisal of resources
romantic view of leadership - leader is the force in determining company's success
external control view of leadership - external forces determine org success, leader
has limited influence
ex, technological advancements, economic downturns, war
Strategic management - consists of the analyses, decisions, and actions an organization undertakes in
order to create and sustain competitive advantages.
Strategic management : analysis - analysis of strategic goals(vision,mission,strategic objectives) and
internal/external environments.
Strategic management :decisions - How should we compete in order to obtain competitive advantages?
(quantity/price vs quality)
Which industries to enter?
How can we create competitive advantages that are unique and hard to copy?
Operational effectiveness - performing similar activities better than competitors (business process
reengineering,just in time, benchmarking, outsourcing)
Four key attributes of strategic management - 1. Strategic management is directed toward overall
organizational goals and objectives
2. Includes multiple stakeholders in decision marking
3. It requires incorporating both short term and long term perspectives(present operating needs and
vision for the future)
,4. Involves the recognition of trade offs between effectiveness and efficiency.
Four key attributes of strategic management: Strategic management is directed toward overall
organizational goals and objectives - effort must be directed at what is best for company as a whole , not
just a single department.
E.g. R&D may have to create a far superior offering but the design may make the product so expensive
that market demand is minimal.
effectiveness vs efficiency - Adequate to accomplish a purpose; producing the intended or expected
result.
vs
Performing or functioning in the best possible manner with the least waste of time and effort.
doing the right thing vs doing things right
ambidexterity - the challenge managers face of both aligning resources to take advantage of existing
product markets and proactively exploring new opportunities.
Strategic management process - strategy analysis, formulation, and implementation
intended strategy - strategy in which organizational decisions are determined by only analysis.
strategic decisions are implemented in according to strategic analysis.
-intended strategy rarely survives in its original form due to unforeseen environment events,
unexpected resource restraints, changes in managerial preferences(unrealized).
realized strategy - strategy in which organizational decisions are determined by both analysis and
unforeseen events (changes in managerial preferences, unanticipated resource constraint , unexpected
environmental changes).
,strategy analysis - study of firms' external and internal environments, and their fit with organizational
vision and goals.
strategy analysis includes - Analyzing :
1. Organizational goals/objectives
2. External/internal environment
3. Firm's Intellectual Assets
Analyzing Organizational goals/objectives - firm's vision, mission, and strategic objectives form a
hierarchy of goals that range from broad statements of intent for competitive advantage to specific,
measurable strategic objectives
Analyzing the External environment of the firm - Monitor and scan the general environment and
industry environment(competitors)
Analyzing the Internal environment of the firm - analyzing strengths and relationships among activities
that constitute a firm's value chain can be a means of uncovering potential sources of competitive
advantages.
strategy formulation - decisions made by the firms regarding investments, commitments, and other
aspects of operations that create and sustain competitive advantage.
coming up with business level(how to compete in a given business to gain advantage), corporate
level(what businesses should we compete in and how can these businesses be managed to achieve
synergy), and international strategies.
Business level strategy - cost leadership/differentiation
Corporate level strategy - addresses a firm's portfolio of businesses.
What businesses should we compete in?
How can we manage this portfolio of businesses to create synergies among them?
, strategy formulation: business level strategy - How to compete and outperform your competitors in a
given industry?
Cost leadership/differentiation/narrow vs industrywide market segment.
strategy implementation - actions made by firms that carry out the formulated strategy, including
strategic controls, organizational design(means to coordinate and integrate activities and stakeholders
to accomplish strategy), and leadership.
strategic controls - -continually scan environment and respond to T&O.
-proper balance of rewards/incentives/constraints/good cultures
-corporate governance
Organizational design - firms must have organizational structures and designs that are consistent with
strategy
corporate governance - the relationship among various participants in determining the direction and
performance of the corporations
-primary participants includes shareholders, board of directors, and management(CEO).
stakeholders - external or internal parties that has a stake and influence on the firm.
-shareholders, employees, customers, suppliers, community at large, etc
Capital market stakeholders - -shareholders
- major suppliers of capital (e.g.,
creditors
Product market stakeholders - - customers
-- host governments
- suppliers
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