Vision
What are the two components of vision?
Core Ideology and Envisioned Future
What is defined by the maximum value a company can deliver at a given cost, with the best available technology, skills, and management techniques?
Productivity Frontier
TRUE/FALSE Effective corporate theories provide managers with vision to navigate the surrounding strategic terrain over a short period of time
FALSE .. this is done over an extended period of time
Which of the 5 strategy questions:
A business must make sense macro-cosmically as well as micro-cosmically. The sum of a business’s components must be greater than its parts.
What does not fit?
On Grody's syllabus he asked the class to translate the word "лидер".. what is this translation
TRUE/FALSE: It is more important for a CEO to focus on short term gains rather than long term
FALSE
What do all good strategies require?
Tradeoffs
What captures how the relevant strategic terrain will react and respond as the firm takes strategic actions.
Corporate Theory
Which of the 5 strategy questions:
Look at the company from an external perspective to consider its future. Companies focused on preserving an outdated legacy may not make necessary changes to products, projects, or beliefs.
What would an outsider do?
What year did Grody graduate from Duke?
1981
What part of vision always stays the same?
Core Ideology
What is the difference between operational effectiveness and strategy?
OE is about achieving excellence in individual activities, strategy is about combining activities.
TRUE/FLASE: Strategic positionings are often not obvious and finding them requires creativity and insight.
TRUE
Which of the 5 strategy questions:
Take time to consider whether the company’s structure is ideal for achieving its aspirations. Redesign the company from scratch periodically.
Is my organization consistent with my strategy?
What are the names of Grody's 2 black labs?
Is the following an example of core values or core purpose: Federal National Mortgage Association, Fannie Mae: “To strengthen the social fabric by continually democratizing home owner- ship.”
Core purpose
Define strategic positioning
Performing different activities or performing similar activities in different way than rivals
Is it better to micromanage or macromanage? Why?
Macromanage.. you want to manage the bigger issues rather than the smaller ones
Which of the 5 strategy questions:
If you don’t understand why the company operates a certain way, it could likely operate better. Practices and habits that helped the company succeed under prior circumstances may no longer benefit it.
Do I understand why we do it this way?
Name 2 of Grody's goals in his personal brand
“Touch” people and organizations, Help them achieve their goals, Leave them better off than they were, My reach should exceed my grasp, Be the solution, Be happy
How do our personal brands relate to a company's vision of Yin/Yang?
The energies of Yin/Yang relate to a personal brand because you want to keep your core values consistent, while growing and improving your brand over time.
Variety-based serves few needs of many customers (product/ service).. Needs-based serves broad needs of a few customers (target segmentation).. Access-based serves broad needs of a few customers in narrow market
What is the difference between foresight, insight and cross-sight?
Foresight is the industry's evolution (relevant technological change or evolving consumer preferences) Insight is the distinctive and valuable assets and resources. Cross-sight is the ability to identify adjacent assets uniquely valuable to your firm or assets with value that others are simply unable to perceive.
Which of the 5 strategy questions:
When considering a new strategy, think about potential future implications beyond the short-term. Complex decisions must be made despite uncertainty, and a company is responsible for the successes and failures of its strategy.
What might be the long term consequences?
What are the 8 E's?
Edge, Ego-less, Engage, Environment, Envision, Ethical, Execute, Expertise