business strategy

strategic analysis

asessment of organisation’s currect comptetitive position

data

merely faw facts/unstructured facts and figuress

information

useful data/data that are endowed with meaning and purpose

knowledge

closely linked to doing and implies know-how and understanding

= possesed by each individual

= what you know and/or understand

interpretation

explanation/making sense of data/based on knowledge and experience

plan

pre-determined course of action

malleability

ability to reshape itself in response to new conditions

strategy

a planned way of achieving a long-term goal

mission

what the organization does

= reason for existence

vision

what the organization wants to become in the future

= goals for the future

mantra

= concise guiding phrase that helps maintain focus

SCQ framework

= situation (what is happening), complication (what changed or creates pressure), question (what decision must be made)

MECE

= mutually exclusive & collectively exhaustive

normative conflict

norms are society’s accepted, established beliefs about how things should be done

distributional conflict

market power is the ability to price above or below competitive levels

strategic forecasting

the process of predicting future trends and opportunities by analysing quantitative and qualitative data to help organizations make long-term informed decisions

gig economics

= freelancing

= bases on ST-contracts instead of permanent jobs

super products

products/services with features that customers do not expect, however, perceive them and they are willing to pay for

targeted demand

total quantity of products which could be purchased by a given market segment in a given area, time, in a certain competitive environment and using certain marketing tools

industry

= group of businesses that make and sell similar products and services

market

= defined by the group of potential customers

industry dynamics

forces, patterns, and changes that shape how an industry operates over time

= why does the industry evolve the way it does, who wins, who loses, what drives growth/decline

scenario planning

= describing a possible future

• scenario = story about a plausible future world

forecast

= data-based expectation of what is likely to happen

gross margin

percentage of revenue left after subtracting the direct costs to produce a product

= how efficient does a company make offerings before overheads

net margin

what remains at the end

basic index

first year is 100 and the others are based on that

chain index

shows you the difference between years

market segmentation

division of customers into homogeneous groups which differ from each other by their needs, characteristics, and behaviour

focus strategy

a business approach concentrating on a narrow market segment to serve its specific needs better than broad-market competitors

scamper

substitute, combine, adapt, modify, put to another use, eliminate, reverse/rearrange

deductive logic

from general statement to specific conclusion

inductive logic

finding a pattern in specific observation(s) and finding the most probable explanation

abductive logic

making a best guess of of incomplete information