SWOT & Strategy Basics
This Framework synthesizes internal strengths and weaknesses with external opportunities and threats
What is SWOT?
A common SWOT mistake is confusing strengths with these EXTERNAL possibilities.
What are opportunities?
According to the book, this is called a "necessary evil" for startups.
What is fundraising?
A system of interdependent activities that creates and delivers value.
What is a business model?
Success in Business Model Innovation depends not just on novelty, but also on this.
What is alignment or strategic fit?
Strengths and weaknesses are derived from this type of analysis.
What is internal analysis?
This framework evaluates whether a resource is valuable, rare, inimitable, or organized.
What is VRIO?
Kickstarter is an example of this kind of funding method.
What is crowdfunding?
“What is offered?” by a business.
What is a value proposition?
High radicality, high reach, low complexity, and open structure all describe this type.
What is open/proactive BMI?
Opportunities are identified through this type of environmental analysis.
What is external or industry analysis?
This tool examines the primary and support activities to assess internal advantage.
What is the Value Chain Analysis (VCA)?
Using your own money and revenue instead of outside investors.
What is bootstrapping?
The three dimensions used to evaluate Business Model Innovation.
What are radicality, reach, and complexity?
Firms classified as defenders, analyzers, or prospectors come from this typology.
What is Miles & Snow's typology?
A matter that if left unresolved could impact the survival of a business.
What is a strategic issue?
This framework helps analyze macro trends and industry competition.
What is PESTLE? or Porter's Five Forces?
Investors who manage large funds and seek fast-scaling companies.
Who are Venture Capitalists
This term measures how far innovation extends from a company to the world.
What is reach?
Radical innovation combined with high complexity in a closed setting describes this type of innovation.
What is a closed/proactive BMI
SWOT should be used as this phase in strategy development, not as the final decision.
What is a starting or brainstorming phase?
Strategic Issues are framed as this type of concise statement.
What is a "How" statement?
The book says this kind of story, explaining the problem and solution, is key in a pitch.
What is storytelling?
These are the 5 fundamental questions put forth by Taran et al in the article.
What are "What should we innovate?", "How far do we go?", "How will the innovation support our strategy?", "Do we adopt a closed or open approach?", "When do we consider it a success?"
According to Taran et al., proactive firms attempting highly radical and far-reaching innovation should adopt this approach to reduce risk and acquire missing competencies.
What is an open organizational setting (open innovation approach)?