Mein erstes Fach at Universität Passau

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What are the four examples for a bad strategy?

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What are the 4 cornerstones of a good strategy? Please describe them as well.

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What are the two types of decisions? Please describe them as well. 
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Exemplary flashcards for Mein erstes Fach at the Universität Passau on StudySmarter:

What are the challenges while making strategic decisions?

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What are the qualities of a good strategy process?

Exemplary flashcards for Mein erstes Fach at the Universität Passau on StudySmarter:

What are the 4 key success factors? (according to the CUSF-Principle)

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Strategic thinking requires the clear definition of pivotal, focal question to be solved. Please describe the S-C-Q Framework of framing focal problems and questions.
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Exemplary flashcards for Mein erstes Fach at the Universität Passau on StudySmarter:

What does the Value Process Framework describe?

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Theories are influenced by the subjectivity of human perception. What are the errors of human perception due to bounded rationality?

Exemplary flashcards for Mein erstes Fach at the Universität Passau on StudySmarter:

According to the Value-Process Framework, which first condition is necessary for building a competative advantage?

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According to the Value-Process Framework, what are the ultimately two levers of strategic management?
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What are the two levels of Strategic management?

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Exemplary flashcards for Mein erstes Fach at the Universität Passau on StudySmarter:

Mein erstes Fach

What are the four examples for a bad strategy?
Fluff, goals instead of actions, blue sky goals and annual exercise 

Mein erstes Fach

What are the 4 cornerstones of a good strategy? Please describe them as well.
1. Diagnosis and anticipation 
- define challenges and anticipate changes
- identify key opportunities and threats 

2. Guiding policy 
- choose an overall approach to overcoming instigiere obstacles
- decide under uncertainty and complexity 

3. Concentration of efforts on leverage point
- identify focal leverage points at which resources and efforts can used most effectively 

4. Coordination of efforts on coherent actions 
- design actions that builds on each other 
- focus organizational energy on the alignment of actions 

Mein erstes Fach

What are the two types of decisions? Please describe them as well. 
Type 1: 
- Decisions that are consequential and (nearly) irreversible (one way door)
- Decisions of Type 1 must be made methodically, carefully, slowly and with great deliberation and consultation 

Type 2: 
- Decisions that are changeable and reversible (two way door)
- Decisions of Type 2 can and should be made quickly z.B. high judgement individuals or small groups 

Mein erstes Fach

What are the challenges while making strategic decisions?
- Identifying choices to be made
- coming up with options
- reaching conclusions 
- creating commitment 

Mein erstes Fach

What are the qualities of a good strategy process?
Genuine: realistic options and deciding what (not) to do as a consequence

Sound: good logic, good data and tested intuitions 

Actionable: easily communicating long-term goals and breaking them down into a series of steps 

Compelling: generate commitment and engagement and testing of commitment 

Mein erstes Fach

What are the 4 key success factors? (according to the CUSF-Principle)
Comprehensive: take all (valuable) options and ideas into account without neglecting anything 

Unbiased: limit the degree to which choices are influenced by cognitive biases and potential misperceptions of reality

Simple: Set simple guiding principles in order for individual actions and decisions to be reflections of those principles 

Fair process: make individual feel that they have a voice and a fair shot at participating in decisions 

Mein erstes Fach

Strategic thinking requires the clear definition of pivotal, focal question to be solved. Please describe the S-C-Q Framework of framing focal problems and questions.
Situation:
- Key point: Describe “the situation“ before the problem occured 
- Example: Our business did well for 20 years

Complication:
- Key point: What is going on now?
- Example: However, recently our sales have dropped

Question:
- Key point: What is the key question you want to address?
- Example: How can we improve our long term profitability?

Mein erstes Fach

What does the Value Process Framework describe?
- the concept of understanding competitive advantage and identify key trade-offs
- Business strategy is about how value is created and captures in order to achieve a competitive advantage 
- in a competitive environment, companies can only compete successfully if their value created is higher than that of competitors 

some defintions: 
Benefit: perception of use-utility of product from the view of the customer
Value: difference between perceived benefit and marginal cost
Value creation: takes place at the interface between the company and its suppliers
Value capture: takes place at the interface between the company and costumers & competition 

Mein erstes Fach

Theories are influenced by the subjectivity of human perception. What are the errors of human perception due to bounded rationality?

Pseudo-Regularity
- Humans want to find regularities where no regularities exist 

Observation dependent on expectation 
- Phenomen of cognitive dissonance (we observe what we want to see and view things as we like to view)

Selective perception
- selection of memory
- selective cognition 
- selective memory 

Erroneous deduction 
- IntuitiVe thinking often causes mistakes when interpreting probabilities 



Mein erstes Fach

According to the Value-Process Framework, which first condition is necessary for building a competative advantage?
Creating a value that is positive

Mein erstes Fach

According to the Value-Process Framework, what are the ultimately two levers of strategic management?
Value creation and capturing 

Mein erstes Fach

What are the two levels of Strategic management?
- corporate level (Multibusiness)
- business level (Single business)

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Organisation

Langenscheid Grundwortschatz Spanisch

Basismodule Soziologie I und II

Spanisch A2

Vergleichende Regierungslehre

Fach 5 at

Hochschule Osnabrück

Mein erstes Thema at

IUBH Internationale Hochschule

Mein erstes Thema at

Hochschule für Angewandte Wissenschaften Hamburg

Mein EVWL at

TU Dresden

Mein EBWL at

TU Dresden

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