MGMT 4950 Summer 09 Study Guide
Exam will cover chapters 1 – 4 & 5. There will be 30 objective type questions (multiple choice).
There will also be a mix of short answer discussion type questions – you will be asked to
describe, define, explain, and list. When a question directs you to describe, define, or
explain, you should answer in complete sentences.
Strategy and the quest for competitive advantage:
a. Thinking Strategically – where are we now, where do we want to go and how are we
going to get there. The importance of setting good objectives – develop a balanced
scorecard (pp. 20-21 text)
b. Strategy – competitive moves and business approaches used by managers to run the
organization .
c. Elements of a Company’s Business Strategy (slide 1-5)
d. Sustainable competitive advantage
e. Proven approaches – (slide 1-7) – examples?
f. Why do strategies evolve? – (slide 1-10 & 11)
g. What is a business model?
h. Tests of a winning strategy
Industry and competitive analysis
i. External environmental factors shaping a company’s choice of strategy
j. Assessing – 7 step process (slides 4-5 & 6)
k. Id industry’s dominant economic features – examples (page 61).
l. Porters five forces model of competition – (slides 4-8 –thru 4-16)
m. Driving forces – (slides 4-18 & 19)
n. Key concepts – “Blue Ocean”; Strategic Group Map; Key Success Factors; Barriers to
entry; Integration;
o. Deciding whether the industry presents an attractive opportunity
Analyzing a company’s Competitive Strength and Cost Structure
p. Performance indicators of how well a company’s strategy is working – financial &
strategic perspective ( Slide 5-4)
q. Identifying a company’s strengths, weaknesses, opportunities, and threats – Factors to
Consider
r. Value chain – identification and evaluation (Slide 5-11)
s. Benchmarking – (Slide 5-14 - 15)
t. Vertical integration strategy – options – advantages and disadvantages. (Slide 5-16 –
17,18,19)
u. Outsourcing – why? – when does it make sense? (5-20)
v. Correcting internal cost disadvantages – how? (5-21 - 5-25)
