MNGT 4800 Final Exam Study Guide – Summer 2015
Chapter 1
1. Understand the definition of strategy.
2. Understand the definitions of competitive advantage, sustainable competitive
advantage, and competitive parity.
3. Know stakeholder theory and the different types of stakeholder groups.
4. Understand how stakeholder theory and its t
5. Understand CSR by definition, as well as the CSR pyramid/hierarchy and its
components.
6. Understand the basics of the AFI framework, and how it fits into the Strategic
Management process model we discussed in class.
Chapter 2
1. Understand how external analysis contributes to SWOT analysis.
2. Understand the interactive nature and types of external environments with
which a firm interacts.
3. Know the aspects of SWOT analysis that are derived from external analysis.
4. Understand the basics of general environment analysis, as well at the 4
components of PEST analysis as discussed in lectures.
5. Understand the basics of Industry analysis, as well as the components of
Porter’s 5 Forces analysis.
6. Know what is meant by the term “complementors”, and how complementor
relationships impacts industry analysis.
7. Understand how to use the Value Chain to identify firm suppliers and buyers.
8. Know what the terms backward and forward integration means.
9. Know the meaning and components of switching costs.
10. Know how strategic groups impacts industry level analysis and the
determinants of direct and indirect competitors.
11. Understand the different stages of the industry life cycle
Chapter 12
1. Understand how external analysis contributes to SWOT analysis.
2. Understand the interactive nature and types of external environments with
which a firm interacts.
3. Know the aspects of SWOT analysis that are derived from external analysis.
4. Understand the basics of general environment analysis, as well at the 4
components of PEST analysis as discussed in lectures.
5. Understand the basics of Industry analysis, as well as the components of
Porter’s 5 Forces analysis.
6. Know what is meant by the term “complementors”, and how complementor
relationships impacts industry analysis.
7. Understand how to use the Value Chain to identify firm suppliers and buyers.
8. Know what the terms backward and forward integration means.
9. Know the meaning and components of switching costs.
10. Know how strategic groups impacts industry level analysis and the
determinants of direct and indirect competitors.
11. Understand the different stages of the industry life cycle
Chapter 3
1. Understand how external analysis contributes to SWOT analysis.
2. Understand the interactive nature and types of external environments with
which a firm interacts.
3. Know the aspects of SWOT analysis that are derived from external analysis.
4. Understand the basics of general environment analysis, as well at the 4
components of PEST analysis as discussed in lectures.
5. Understand the basics of Industry analysis, as well as the components of
Porter’s 5 Forces analysis.
6. Know what is meant by the term “complementors”, and how complementor
relationships impacts industry analysis.
7. Understand how to use the Value Chain to identify firm suppliers and buyers.
8. Know what the terms backward and forward integration means.
9. Know the meaning and components of switching costs.
10. Know how strategic groups impacts industry level analysis and the
determinants of direct and indirect competitors.
11. Understand the different stages of the industry life cycle
Chapter 4
1. Understand how internal analysis contributes to SWOT analysis.
2. Know the Value Chain, and the role of cost, margins, and profits in Value Chain
activities and management.
3. Understand the role of primary and support activities in Value Chain management.
4. Know how to identify a firm’s primary value-adding processes via Value Chain
analysis.
5. Understand the interrelated management of firm activities both within and across
organizations to maximize profits.
6. According to the Resource-Based View of the Firm, know the definitions and
differences between tangible resources, intangible resources, organizational
capabilities and core competencies.
7. Know the types of tangible and intangible resources.
8. Know the characteristics of resources/capabilities that contribute to competitive
advantage in the VRIO framework (know what the VRIO stands for).
9. Understand the means by which inimitable and substitutable resources can be
obtained/developed, and what resource qualities limit inimitability & substitution.
10. Understand the resource groupings that contribute to sustainable competitive
advantage, temporary advantage, competitive parity, and competitive disadvantage.
11. Understand what the terms “competitive advantage” & “abnormal profits” represent.
Chapter 6
2.
3.
4.
5.
6.
7.
1. Understand the different types of generic/business level strategies, and how they
help contribute to competitive advantage development.
Be able to differentiate between firms with a combination strategic advantage
versus firms that are straddling/“stuck in the middle”.
Understand the benefits and potential pitfalls associated with cost leadership and
differentiation generic strategies, as well as distinctions between focused versus broad
strategic targeting.
Know the characteristics and definition of learning curve effects.
Know the problems associated with being “stuck-in-the-middle”.
Understand the various tactics that may be employed based on industry life cycle
stage position.
Understand TOWS matrix, how it is derived, and applied in Strategic
Management research.
Chapter 8
1. Understand the definition and elements associated with corporate strategy.
2. Be able to differentiate between different types of diversification approaches, as
discussed in class.
3. Know the definition of synergy, as well as understanding the different approaches to
developing synergies spanning from related to unrelated diversification.
4. Understand the relationship and distinctions between profit pool and vertical
integration.
5. Understand the definition and attributes of economies of scale, economies of scope,
and learning/experience curve effects, as associated with related diversification.
6. Know what is meant by diseconomies of scale, and how diversification approaches
can produce these diseconomies
7. Understand the details of parenting versus holding company approaches, as involved
with unrelated diversification.
8. Know what is meant by the terms vertical & geographic scope/integration.
9. Understand the BCG matrix, as well as the general recommendations associated with
this approach.
Chapter 11
1. Know the three strategy implementation levers
2. Understand the definitional elements of organizational structure, as well as the
interrelated linkage between strategy, environment and structure.
3. Know the temporal relationship between strategy and structure.
4. Know the structural components discussed in class (specialization, centralization,
formalization, hierarchy), as well as the elements of hierarchy (unity of command,
chain of command, span of control).
5. Know the six major structural forms discussed in class, as well as the forces that drive
firms to shift from one structural form to another.
6. Know the basic characteristics and trade-offs associated with the six basic structural
forms.
7. Know the definition and differences between types of network and virtual
organizations, as well as how technology enables these structures.
8. Understand the dimensions of the Balanced Scorecard and Value Chain perspectives,
and understand how these dimension influence strategy implementation, processes
and systems, and evaluation.
9. Know what is meant by input, output, and process/outcome control systems.
10. Understand how intrinsic and extrinsic motivators impact reward system
effectiveness.
11. Know the 4 directions and flows of firm communication processes.
12. Understand the aspects of ambidextrous organizations for firms operating in dynamic
contexts.