Unraveling Multimodality with Large Language Models.pdf
Strategic management gtu module wise points
1. Strategic Management
Q: Resource Based model and I/O Model
Resources
Resources are the inputs into a firm’s production process: such as
o Physical
o Organizational
o Capital
According to resource based model,
Differences in the firms’ performances are due to their unique resources rather than
their structural characteristics.
◦ The I/O Model of Above Average Returns
From 1960-80, it was believed that the external environment plays the vital role in
determining the strategy
Thus, the Industrial Organization (I/O) model focuses on external environment’s
influence on a firm’s strategic actions.
Key factors to decide the firm’s performance as per I/O model
o Economies of scale
o Barriers to market entry
o Diversification
o Product differentiation
◦ What Are the Stakeholders of a Business?
Any person or entity interested in a particular business is called a stakeholder.
Asst. Professor Jay Padh- MBA dept.
2. They are affected by the business activity, and they may be part of the core decision-
making team.
Internal and external stakeholders may have different interests and priorities, possibly
leading to conflicts of interest.
◦ Kinds of Stakeholders
Internal stakeholders are owners, managers, and workers.
External stakeholders are the customers and the suppliers. The community in which
the organization does business also is a stakeholder.
All the stakeholders are not equal, and different stakeholders will have varying
considerations. These stakeholders can have direct or indirect stake in the
organization and in policy-making.
Q:Value Chain Analysis
A value chain is a chain of activities for a firm operating in a specific industry.
Products pass through all activities of the chain in order, and at each activity the
product gains some value.
The chain of activities gives the products more added value
starting with raw materials and ending with the delivered product
It is based on the notion of value-added at the link level. The sum total of link-level
value-added yields total value.
Six business functions of the Value Chain:
Research and Development
Design of Products, Services, or Processes
Production
Marketing & Sales
Distribution
Customer Service
Asst. Professor Jay Padh- MBA dept.
3. Primary activities
Inbound Logistics
Operations
Outbound Logistics
Marketing and Sales
Service
Support activities
Procurement
Human Resource Management
Technology Development
General Administration
Q: SWOT analysis:
Internal factors:
Strengths
Weaknesses
External Factors:
Opportunities
Threats
Q:Vision vs. Mission
The vision is more broad and future oriented – the goal on the horizon
The mission is more focused – how you will get to the horizon
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4. Q: PEST Analysis: it is the list of external factors affecting the business
Political
Environmental
Social
Economic
Q: Resources, Capacities, core competencies:
Resources
◦ How a firm procures the resources
Capacities
◦ How effectively a firm uses its resources
Competencies
◦ How uniquely the firm positions itself in terms of performance of its
product/service.
The collective strength of these three factors puts the firm a step ahead of its
competitors and gives the competitive advantage.
Q: Common types of Industry Key Success factors
Technology related KSFs
Expertise in particular technology (apple, Sony)
Expertise in scientific research (pharmaceuticals)
Ability to improve production process (ford motors)
Manufacturing related KSFs
High utilization of fixed assets
Access to attractive supplies of skilled labor
Asst. Professor Jay Padh- MBA dept.
5. High labor productivity
Ability to manufacture or assemble products
Distribution related KSFs
A strong network of wholesale/dealers (amway)
Strong direct sales capabilities via internet
Marketing related KSFs
A well known respected brand name (reebok, Nike)
Courteous, personalized customer services
Customer guarantee and warranties
Clever advertising (pepsi, coke)
Skills and capability related KSFs
National or global distribution capabilities
Design expertise
Short delivery time capability
Other types of KSFs
Overall low cost
Convenient location
Ability to provide fast, convenient after sale services
patents
Q: Strategic group mapping
The technique for displaying the different market or competitive positions that rival
firms occupy in the industry.
Step 1: Analyze industry structure
Step 2: Map the strategic groups
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6. Step 3:Measure the strength of barriers between groups
Step 4: Understand companies strategy with reference to groups’ interaction
Q: Six ways to achieve sustainable competitive advantage
1. Intellectual property
2. A dynamic product line, rather than a single product
3. Dramatic cost improvement for cause
4. Proven team with inside relationships
5.Lock on the market or customer base
6. Strong focus and differentiation
Q: Strategic and tactical actions
Strategic action:
◦ When a firm acts
Tactical action:
◦ When a firm responds to a strategic action.
Q: Likelihood of attack
First mover incentives
Second movers
Late movers
Asst. Professor Jay Padh- MBA dept.