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Erstellt / Aktualisiert 01.05.2021 / 14.06.2021
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What do companies do?

  • Provide valuable goods (products, services)
    • Necessary activities: Procurement (Beschaffung), production, sales/logistics+reaserch & development, strategy, marketing, organization, HR, employees, innovation...
    • Most important point: Competition -> You have to do alle the points above better than your competitors
  • Receive compensation (mostly money = prices)
    • B2B vs. B2C
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How could you describe if you are trying to optimize your inputs respectively your outputs?

  • Decisions, actions, transactions -> Balance of inputs vs. outcomes
    • Maximize outcomes = Effectiveness (value, intended effects, revenues)
    • Minimize inputs at fixed/certain outcomes = Efficiency (costs, time, risks)

Overlap between both approaches:

  • Optimizing inputs and outcomes at once = Utility (Nützlichkeit; comlex, decision science)
  • Certain aspects can be perceived as both (inputs & outcomes): e.g. time, price
  • Many aspects influence each other: risks, time, costs, quality, innovation

 

 

 

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  1. What is acting strategically?
  2. What is strategy / are strategies?

 

  1. Acting strategically
    • acting accordingly to a long term "plan"
    • goals oriented
    • acting according to a pre-defined plan with a defined goal in mind
    • Strategic acting is acting delibarately according to a plan
    • All this in dependency of the competitors
  2. Strategy
    • A plan of actions designed to achieve a long-term or averall aim

 

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What are strategies and what are they good for?

Definition of Alfred Chandler (1962):

Strategy is the determination of the basic long-term goals of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.

 

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What are the purposes for strategies?

  • Complement to deficits in planning = some components are uncerain/ambiguous
  • Combination of stability and adaptability in a complex and dynamic world
  • Complexity reduction = selection what is relevant and what is not
  • Communication internal & external = mission/vision statement -> identity
  • Selection of relevant factors and activity options:
    • In what areas to be active (coporate strategy)?
    • How to act in these area (business area strategies)?
  • Control: Permanent questioning to what extent the current strategy is still adequate (strategic controlling)

 

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What is meant by strategies are subjective and context-related?

  • Perception of a specific situation
  • What goals should be pursued (values, self-concept, identity)?
  • What resources/capabilities are available or can be developed?
  • Ideas/beliefs: What actions lead to what effects?

 

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What means "Strategies are relational"?

Depend on perceptions and behaviors of thers: customers, stakeholders, shareholders, competitors, environment

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What are the two adaptive levels of strategies?

  • Strategic level: Strategic controlling
  • Operational level: Implementation

In other words the indended vs. the realized strategy