Strategic Management Principles - Chapter 4

  Answer each question with three key elements: • Own words • From an academic journal source/citation(References) • Example (Using Emirates Airlines) 1. How can (Macro-environment, Industry, Resources, Culture, Stakeholders) in strategic position can be linked to leadership or organizational development? 2. What is Strategy? • Brief history of the word Strategy o Where do we compete? o What unique value do we bring? o What resources/capabilities do we utilize?  Use the VRIO Criteria ( Value. Rarity, Inimitability, Organizational Support) o How do we sustain unique value? 3. What is Strategy and What is not Strategy? 4. Difference between Strategy and Goals? 5. Difference between Value Chain and Value System? a. Draw a value chain and value system for Emirates airlines b. For Value chain i. generic description of activities ii. Identify the activities iii. Analysing the competitive position c. For Value System i. Understanding cost/price structures ii. Identify the ‘profit pools’ iii. The ‘make or buy’ decision iv. Partnering 6. Benchmarking is used as a means of understanding how an organization compares with others. Make a critical assessment of the benefits and dangers of the approach that was taken by Emirates Airlines. a. Use the two approaches of Benchmarking i. Industry/sector benchmarking ii. Best-in-class benchmarking 7. What is Competitive advantage? 8. What is Activity Systems Mapping? a. Relationship to the value chain b. The importance of linkages and fit. c. Relationship to VRIO. 9. How to decide what to do before doing the business while designing strategy? 10. How to decide what NOT to do before doing the business while designing strategy 11. How strategy can be linked to Leadership and organizational development?