Strategy at TU München

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Study with flashcards and summaries for the course Strategy at the TU München

Exemplary flashcards for Strategy at the TU München on StudySmarter:

Uncertainty

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What can be two reasons to avoid substitution?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What are the four levels of need to change?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What are basic problems with external analysis?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What are the sub-stages of formulation?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

Difficulties of external analysis?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

Qualitative approaches to industry definition

Exemplary flashcards for Strategy at the TU München on StudySmarter:

When do firms operate in the same industry?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What makes a competitive advantage?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What does the value chain (VC) include?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

Was ist der EVA?

Exemplary flashcards for Strategy at the TU München on StudySmarter:

What is the basic idea of industry substitution?

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Exemplary flashcards for Strategy at the TU München on StudySmarter:

Strategy

Uncertainty
Problem: dynamic environment influences change & prediction of changes is difficult
Approach: acknowledge it & adapt analysis techniques to the level

Strategy

What can be two reasons to avoid substitution?
– Differentiation
– Price Leadership

Strategy

What are the four levels of need to change?
Lv.0: Health Company
Lv.1: Expectation Problems
Lv.2: Performance Problems
Lv.3: Liquidity Problems

Strategy

What are basic problems with external analysis?
1. Uncertainty
2. Complexity
3. Bias

Strategy

What are the sub-stages of formulation?
1. Internal & External Analysis
2. Strategy Options
3. Evaluation
4. Strategy as a Plan

Strategy

Difficulties of external analysis?
Uncertainty, Complexity, Bias

Strategy

Qualitative approaches to industry definition
•Analysis of conditions of substitution
-Similar product performance characteristics
-Similar occasions for use
-Sold in the same geographic market

Strategy

When do firms operate in the same industry?
If one firms production/price decision affect the price the other firm charges.

Strategy

What makes a competitive advantage?
Value advantage, price advantage

Strategy

What does the value chain (VC) include?
R&D – Purchasing – Operations – Marketing/Sales – Service

Strategy

Was ist der EVA?
– Economic Value Added
– gibt an, ob die Ansprüche der Kapitalgeber für die Deckung der Kapitalkosten gedeckt sind

Strategy

What is the basic idea of industry substitution?
Basic Idea: – two firms operating in the same industry, if one firm’s producing/pricing decisions affect that of the other, it may charge (substitution)

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