exam 2

What can be the meaning of a

strategy?

• The simple answer on how a company can

achieve a particular goal

• A centralized effort at the company that

considers all aspects and functions of the

business

• Matching what the company has with what

the external environment offers

What can be a strategy

• When you match Internal elements with External elements

• What are internal elements: Strengths (S)

• What can be external elements: Opportunities (O) or Threats (T)

• These can be placed in a TOWS matrix where strategies can come from

– S-O: strategies that emerge from 1 S and 1 O

– S-T: strategies that emerge from 1 S and 1 T

3 Examples for a potential strategy concerning

this goal: How to compete in today’s economy?

• S: strong innovation capabilities

• O: Emerging trends in broadband usage at home

• T: Fewer mobility due to pandemic

• S-O-T strategy: Placing an emphasis on virtual collaboration

• S-T strategy: business model adaptation to enhance on-demand production

• S-O strategy: Balance the current offering to serve specific market niches

Use of 5 elements

• Once you have your particular strategy – use the 5

elements in broad statements

Arenas. Where will we be active?

Differentiators. How will we get there?

Vehicles. How will we win in the marketplace?

Staging. What will be our speed and sequence of

moves?

Economic logic. How will we obtain our returns?

Final reminders

• Use a word processor to prepare your answer BEFORE you enter into the repository

• Write in short paragraphs and use good organization

• Use the keyboard when pasting your answer in the Blackboard text box (Control-V)

• Once you do the pasting – review how the text is seen in the repository to verify that the formatting was kept