Test Review Chapter 4&5

Q1: What are the Business-Level Strategy Formulation Responsibilities?
• Direction Setting--Mission, vision, ethics, goals
• Situation Analysis--Compilation and assessment of information
• Selection of Strategies--Generic Strategy (cost leadership, differentiation, best cost, focus) and Strategic Posture (specific strategies)
• Management of Resources--Acquisition and/or development of resources leading to competitive advantage

Q2: Explain the growth strategic process?
• Involve investment in resources to achieve growth in sales (assuming the industry is attractive)
• Investments over time may involve a redefinition/expansion of organizational scope
• Three concerns:
o what activities and resources to invest in
o the implications for scope and complexity
o the timing relative to competitors
• Internal Strategies
o Market penetration
o Market development
o Application development
o Product development
• External Strategies
o Horizontal integration
o Alliance formation
o Vertical integration

Q3: Market penetration Internal Growth Strategy has to follow:
Market penetration
• Objective: Increase sales volume, share of market in existing markets with existing products
• Invest: Advertising, promotion, sales force, capacity.
• Scope: Scale may increase, but scope does not change

Q4: The product development: Explain objective, invest and scope:
Product Development
• Objective: Develop new products and modifications that will lead to sales in new and existing market segments, possibly for new applications.
• Invest: Product development, process development, applications development, testing, marketing programs, new distribution channels, new sales staff, capacity...
• Scope: Increases the number/type of products, processes, functions served, and possibly the number and type of markets served

Q5: Can you inform the steps of product life cycle?
• Introduction
• Growth
• Maturity
• Commodity or Decline


Q6: How are the multiple stages of the industry supply chain?

Raw Materials Extraction => Primary Manufac-turing => Final Product Manufac-turing => Whole-saling => Retailing

Q7: What are the Typical Pre- to Post-Acquisition Organizational Changes?
• Profitability Declines
• R & D Declines
• Patent Activity Declines
• Financial Leverage Increases

Q8: Explain why Mergers that Don’t Work?
• Large or Extraordinary Debt
• Inadequate Target Evaluation
• Ethical Concerns
• Top Management Team and/or Structure Changes
• Multiple Acquisitions

Q9: The Strategic Alliances target is?
• Resource sharing--marketing, technology, raw materials and components, financial, managerial, political
• Speed of entry
• Spread risk of failure
• Lock in exclusive arrangements
• Draw on specific strengths of countries
• Outsourcing

Q10: Usually the Problems with Alliances are?
• Only partial control and limited profitability
• High administrative costs
• Possible lack of fit
• Risk of opportunism

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