Strategic Management at ETHZ - ETH Zurich

Flashcards and summaries for Strategic Management at the ETHZ - ETH Zurich

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Exemplary flashcards for Strategic Management at the ETHZ - ETH Zurich on StudySmarter:

What is the expected retaliation?

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Government policies. One point

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Which are the five changes in industry structure which companies should be aware of

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What is meant by Make change your default in terms of that many implementation efforts fail? Which key question?

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oligopol, 4 points

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What is strategic thinking about?

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Which are the Seven major sources to Barriers to Entry?

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Exemplary flashcards for Strategic Management at the ETHZ - ETH Zurich on StudySmarter:

The point of industry analysis is not to declare the industry attractive or unattractivee, what is it?

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When is a buyer group price sensitive? 4 reasons


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What is meant by exploiting industry change?

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What is the grand fallacy for strategic planning? Which three assumptions is this based on?

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High fixed costs as a source of increasing intensity in competition, how?

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Exemplary flashcards for Strategic Management at the ETHZ - ETH Zurich on StudySmarter:

Strategic Management

What is the expected retaliation?

How potential entrants believe incumbents may react will also influence their decision to enter or stay. These reactions can be seen in the media (Cut prices, extra investors, new marketing).

Strategic Management

Government policies. One point

Government can limit or foreclose entry to industry

by licensing requirements, technology transfer provision, limiting access to raw materials, standards and

regulations

Strategic Management

Which are the five changes in industry structure which companies should be aware of

Shifting threat of new entry.



Changing supplier or buyer power.



Shifting threat of substitution. 



New bases of rivalry.

Strategic Management

What is meant by Make change your default in terms of that many implementation efforts fail? Which key question?

is that they require changing peoples habits - very sticky and persistent. Identifying and countering the bad habits that keep your strategy from getting executed is not an easy process but there are various practices you can build into your organization to make it work.



Chang it unless it is crystal clear that the old way is substantially better. Execution involves change. Embrace it. Key question: “Why do we do it this way?”.

Strategic Management

oligopol, 4 points

  • Few large firms
  • Some pricing power
  • Differetnated product
  • High entry barriers

Strategic Management

What is strategic thinking about?

Strategic Thinking, in contrast, is about synthesis. It involved intuition and creativity. The outcome of strategic thinking is an integrated perspective of the enterprise, a not too precisely articulated vision of direction.

Strategic Management

Which are the Seven major sources to Barriers to Entry?

  1. Supply side economies of scale 
  2. Demand-side benefits of scale (network effects)
  3. Customer switching costs
  4. Capital Requirements .
  5. Incumbency advantages independent of size .
  6. Unequal access to distribution channels
  7. Restrictive government policy.

Strategic Management

The point of industry analysis is not to declare the industry attractive or unattractivee, what is it?

But to understand the underpinnings of competition and the root causes of profitability.

Strategic Management

When is a buyer group price sensitive? 4 reasons


  1. The product it purchases from the industry represent a significant fractions of its cost structure or procurement budget. Buyers are likely to shop around and bargain hard.


2. The buyer group earns low profits, is strapped for cash, or under pressure to trim its purchasing costs.


3.The quality of buyers products or services is little affected by the industry product.


4.The industry product has little effect on the buyers other costs.

Strategic Management

What is meant by exploiting industry change?

When industry structure is in flux, new and promising competitive positions may appear. Structural changes open up new needs and ways to serve existing needs. Established leaders may overlook these or be constrained by the past strategies pursuing them. Small competitors in the industry can capitalize on such changes, or the void may well be filled by new entrants.

Strategic Management

What is the grand fallacy for strategic planning? Which three assumptions is this based on?

For strategic planning, the grand fallacy is this: because analysis encompasses synthesis, strategic planning is strategy making.



  1. The fallacy of prediction . The forecasting of discontinuties such as technological innovation or a price increase is impossible.

 


2. 

The fallacy of Detachment. Innovation has never been institutionalized. Systems have never been able to reproudce the synthesis created by the genoius entrepreneur or even the ordinary competent straetgyst, and they likely never will. Studies have shown that the most effective managers rely on some of the softest forms of information.


3. The Fallacy of Formalization. Formal systems could certainly process more information, at least hard information. But they could never internalize it, comprehend it, synthesize it. Planning could not learn.

Strategic Management

High fixed costs as a source of increasing intensity in competition, how?

High fixed costs and excess capacity often lead firms to fill capacity

which can lead to rapid price cuts

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