GUIDELINE FOR REVIEW
Strategic Management June 2015
Dr. Jean-Marc DAUTREY
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The comprehensive exam consists of five questions.
Each question tests a specific area of the course (only the topics listed
below). They also make references to case studies and company-specific
situations discussed in class (and easily identifiable in the questions so
that you can refer to them in your analyses of the issues raised).
The topics, which each question tests, are indicated so as to provide the
expected general context of your answers.
Question 1 includes three essay questions but you only have to answer
two.
It is an open book exam.
The material tested includes the following:
1. Evaluating a Company’s External Environment (see Chapter 3 and
the corresponding power points)
Assessing the relevant factors in a company’s broad macroenvironment
Assessing the company’s industry and competitive environment
(Porter’s five force model of competition, factors driving industry
change
Assessing the position of industry rivals in the market and the
strategic moves they are likely to make next (framework for
competitive analysis, industry key success factors)
2. Evaluating a Company’s Resources and Capabilities (see Chapter
4 and the corresponding power points)
Assessing the competitive power of a company’s resources and
capabilities (the VRIN test for sustainable competitive
advantage)
Identifying a company’s internal strengths
Identifying a company’s weaknesses
Identifying market opportunities
Identifying the threats to a company’s future profitability
The concept of a value chain
Benchmarking
3. Corporate Strategy (see power points and Chapter 8 pp. 216-237 an
the corresponding power points)
Growth strategy
Stability strategy
Turn-around strategy
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Diversification strategy (related/unrelated/ by acquisitions, joint
ventures)
Parenting
Portfolio management
Economies of scope
4. The Five Generic Competitive Strategies (see Chapter 5 and the
corresponding power points)
Low cost provider strategies (major avenues for achieving a
competitive advantage based on lower costs)
Broad differentiation strategies (major avenues to a competitive
advantage based on differentiating a company’s product or
service offering from the offerings of rivals)
Focused (market niche) strategies (major avenues for a
competitive advantage based on lower costs)
Best-cost provider strategies (the attributes of a best-cost
provider strategy as a hybrid of low-cost provider and
differentiation strategies)
Please not that these five strategies have also been referred to as business
strategies as they apply to the business units of a large conglomerate (and
complement its corporate strategy) and to SMEs.
5. Timing a Company’s Offensive and Defensive Strategic Moves
(see Chapter 6/ pp. 155-174 and the corresponding power points)
First-mover advantages/ disadvantages
Late-mover advantages/ disadvantages
Merger and acquisition strategies (pros and cons)
Vertical integration strategies (pros and cons)
Outsourcing strategies (pros and cons)
Strategic alliances and partnerships (benefits and drawbacks)
6. Strategies for Competing in International Markets (see Chapter 7/
pp. 188-198 and the corresponding power points)
Strategic options for entering and competing in international
markets (export. licensing, franchising, foreign subsidiary,
alliance and joint venture strategies)
Multi-domestic, global, and transnational strategies
In addition to the book (only the chapters indicated above) and the course
power points, also review you notes (most notably the examples and case
studies discussed in class).