BMGT 304 Strategic Management Mid Term || with Error-free Solutions.

BMGT 304 Strategic Management Mid Term
|| with Error-free Solutions.

5GBasicGStrategicGApproachesG-GFocusedGlowGCostG-GDollaramaG
FocusedGDifferentiationG-GStarbucks,GTeslaG
Best-CostGProviderG-G(ValueGoriented)GAmazon,GCostcoG
BroadGDifferentiationG-GApple,GHudsonGBay,GRBC.G
LowGCostGProviderG-GWalmart

BusinessGModelG-GVGorGR-GCG=GP

SustainableGcompetitiveGadvantageG(S.C.A)G-
GaGcompetitiveGadvantageGthatGotherGcompaniesGhaveGtriedGunsuccessfullyGtoGduplicate

GandGhave,GforGtheGmoment,GstoppedGtryingGtoGduplicate



BalancedGScorecardG-
GisGaGwidelyGusedGmethodGforGcombiningGtheGuseGofGbothGstrategicGandGfinancialGobjecti

ves,GtrackingGtheirGachievement,GandGgivingGmanagementGaGmoreGcompleteGandGbalan
cedGviewGofGhowGwellGanGorganizationGisGperforming.

BalancedGScorecardsGmeasuresGaGfirm'sGoptimalGperformanceGbyG-G-
GPlacingGaGbalancedGemphasisGonGachievingG

bothGfinancialGandGstrategicGobjectives.
-
GTrackingGbothGmeasuresGofGfinancialGperformanceGandGmeasuresGofGwhetherGaGfirmGis

GstrengtheningGitsGcompetitivenessGandGmarketGposition.



FinancialGObjectivesG-G-
GCommunicateGtopGmanagement'sGgoalsGforGfinancialGperformance.

-GAreGfocusedGinternallyGonGtheGfirm'sGoperationsGandGactivities.

StrategicGObjectivesG-G-
GAreGtheGfirm'sGgoalsGrelatedGtoGmarketingGstandingGandGcompetitiveGposition.

-GAreGfocusedGexternallyGonGcompetitionGvis-à-visGtheGfirm'sGrivals.

SmartG-GSpecific,GMeasurable,GAttainable,GRealistic,GTimely

PESTELG-GFocusesGonGprincipalGcomponentsGofGstrategicGsignificanceGinGtheGmacro-
environment:
-GPoliticalGfactors
-GEconomicGconditionsG(localGtoGworldwide)G(FocusGonGthis)
-GSocioculturalGforces

, -GTechnologicalGfactorsG(focusGonGthis)
-GEnvironmentalGfactorsG(theGnaturalGenvironment)
-GLegal/regulatoryGconditions

TheGFiveGCompetitiveGForcesG-G-GCompetitionGfromGrivalGsellers
-GCompetitionGfromGpotentialGnewGentrants
-GCompetitionGfromGproducersGofGsubstituteGproducts
-GSupplierGbargainingGpower
-GCustomerGbargainingGpower

CorporateGStrategyG-GisGstrategyGatGtheGmulti-
businessGlevel,GconcerningGhowGtoGimproveGcompanyGperformanceGorGgainGcompetitive
GadvantageGbyGmanagingGaGsetGofGbusinessesGsimultaneously.



BusinessGstrategyG-GisGstrategyGatGtheGsingle-
businessGlevel,GconcerningGhowGtoGimproveGtheGperformanceGorGgainGaGcompetitiveGad
vantageGinGaGparticularGlineGofGbusiness.

FitGTestG-GHowGwellGdoesGtheGstrategyGfitGtheGcompany'sGsituation?

PerformanceGtestG-
GCanGitGproduceGgoodGperformanceGasGmeasuredGbyGtheGfirm'sGprofitability,GfinancialGan

dGcompetitiveGstrengths,GandGmarketGstanding?

TheGCompetitiveGAdvantageGTestG-G

StrategicGplanG-GlaysGoutGitsGfutureGdirection,GperformanceGtargets,GandGstrategy

StrategicGvisionG-
GdescribesGmanagement'sGaspirationsGforGtheGfutureGandGdelineatesGtheGcompany'sGstr

ategicGcourseGandGlong-termGdirection.

AnGeffectivelyGcommunicatedGvisionGisG-
GaGvaluableGmanagementGtoolGforGenlistingGtheGcommitmentGofGcompanyGpersonnelGtoG

engageGinGactionsGthatGmoveGtheGcompanyGforwardGinGtheGintendedGdirection

MissionGStatementG-GaGstatementGofGtheGorganization'sGpurposeG-
GwhatGitGwantsGtoGaccomplishGinGtheGlargerGenvironment



VisionGStatementG-
GexpressesGwhatGtheGorganizationGshouldGbecome,GwhereGitGwantsGtoGgoGstrategically



CoreGvaluesG-
GareGtheGbeliefs,Gtraits,GandGbehavioralGnormsGthatGtheGfirm'sGpersonnelGareGexpectedGt

oGdisplayGinGconductingGtheGfirm'sGbusinessGandGpursuingGitsGstrategicGvisionGandGmissi
on.