Hello, this is a summary for the second years course Strategy on the Radboud University. I included all lectures and subjects in it. It has (in my opinion) all of the important aspects of the course. Good luck studying!
Strategy - Radboud University
Lecture 1:
Wicked problem -> the more you try to solve it, the more complicated it becomes
Distributive nature -> giving up one advantage for others (balance)
Integrative nature -> seeing possible synergy
Lecture 2:
Identifying -> being aware of opportunities and recognize importance
Diagnosing -> understanding structure of the problem and causes
Understanding (conceiving) -> choosing the best solution
Achieve -> take concrete actions and evaluate them
Limits cognitive thinking:
- Limite to feel info
- Limite to process info
- Limite to store info
Analytical reasoning (Logic) = everything is analyzed, formulated and implemented on the
basis of facts. Bounded rationality and emotions play a part
Holistic reasoning (intuition) = intuitive thinking and creativity must be the driving forces
Dynamic capabilities = the ability to integrate competencies in changing environments
(sensing, opportunity, reconfiguration) The more complex the industry, the more important
D.C are.
Lecture 3:
Vision= what do you want to achieve (desired future)
Mission= Driving forces to steer in the right direction (how) (strategic choices)
Function mission: Direction, legitimization, motivation
4 elements; Purpose, philosophy or beliefs, values, business definition
Vision: expected environment, desired position, time horizon
Broad stakeholders; anyone who can influence the company
Narrow stakeholder; anyone on who the organization depends
Organizations should create shared value instead of profit
Externalities; social costs such as pollution
Lecture 4:
Industry -> look at supply side
, Market -> look at demand side
Sustainable competitive advantage = it cannot be copied, substituted or eroded by the
actions of rivals
Value chain = integrated set of value creation leading to the supply of product and /or
service offerings -> goal is adding value
Differentiation -> distinguish you from your competitors
Capability -> ability to exploit its resources
Competency -> set of skills that can combine different resources
I/O model = industrial organization model
Market adoption looks at what is needed -> focus on growth
REsource leverage -> what is the strength -> not looking at growth
Markets VS resources
Market adaption VS build on existing resources
Outside-in perspective -> organization adapts to the environment (market adaption) Look
through the eyes of customers
Inside-out perspective -> Strategies are based on organization’s strengths (resources)
Incremental dynamic capabilities -> continuous improvement
Renewing dynamic capabilities -> refresh, adapt and augment
Regenerative dynamic capabilities -> DC that can respond to other DC’s
Lecture 5:
Vertical diversification -> move forward or backward in your own industry
Horizontal diversification -> expand outside own industry
Reasons for diversification; resources, stimulants (incentives), managerial motives
Responsiveness VS synergy
Responsiveness -> noticing developments and taking chances (more costs & slower
decisions)
Synergy -> more than the sum of its parts, be related to each other
Internalization is about doing it yourself instead of outsourcing
Opportunity for synergy -> current synergy approach -> effectiveness of the approach ->
agenda for change
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper esmeevanharen. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €5,49. Je zit daarna nergens aan vast.
