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What are the four approaches to strategy taught in this class?
Customer creation, customer value, industrial structure, and shareholder value
What are the six questions for marketing oneself?
What are my strengths?
duty's ist
What are my values? decision analysis model
How do I perform? contect analysis
Where do I belong?
What do I contribute?
What relationship am I responsible for?
trust and communication
What are the components of the mission?
Why do you do what you do?
What is your purpose?
Who do you serve?
How do you serve them?
Context analysis (WILL BE ON EXAM)
Discovering how you perform and in which types of environments you perform the best.
Ask youself:
"How do I learn?" writing it down, talking to others, observeing, or by just doing it.
"Do I act on this knoeledge?"
"In what environments do I perfome at my best?"
answer: advisor, boss, stability, alone, and big organization
What are the three policies for managing change/making the future?
Preventive care, continouse improvement, build on past success
What are the seven methods for anticipating change?
Unexpected success, incongruity, process need, chnages in market structure, demographics, changes in mood, and new knowledge
Which of the seven methods for anticipating change is the most important?
?
What are the first principles of marketing taught in this class?
Listen to your customer, win with strength, do your duty, change the rules, weigh the pros and cons
What are the characteristics(values) of tomorrow's markets? + their artifacts (WILL BE ON EXAM)
Customer- listen to your customer (phone)
Capital- chnage the rules (coke can)
Labor- wigh the pros and cones (kitchen scale)
Government- win with strength (barbie)
What is MPQ?
Market-perceived quality: companies succeed when they provide superior customer value over their competitors.
What is MPP?
Market Perceived Price: both financial and customer data are used in evaluating performance.
What are the steps in creating a decision model?
List the pros and cons
Assign weights (must add to 100)
Add weights
Compare pros and cons
Evaluate
What does SAILS stand for?
Satisfaction, Attributes, Independence, Linearity, Scale
What type of strategy is the industrial organization approach?
Develop and implement strategies that position the firm economically in its environment. E.g. how to reduce costs or add value.
What are the five forces?
Threat of new entrants
Threat of substitutes
Bargaining power of buyers
Bargaining power of suppliers
Current rivalry
What is a strategic group?
A group of firms following the same, or similar strategic dimensions.
When people say shareholder value, what are they really talking about?
Focusing on the economic value of an investment, it's all about cash, the difference between after tax operating
cash flow and the investment..
What is Pmin?
Minimum operating profit required to generate value for shareholders.
What are the turbo triggers of cash flow?
-Selling Price
-Sales mix
-Scales of economies
-Cost of efficiencies
(idk if this is right)
How do you create customer?
Have an innovation
Idk just memorize this, something How to calculate risk-adjusted basis (i think)
Change in sales
Times the operating speed
Time what you need
On a risk-adjusted basis
Note 
Flashcard (27)