Diamond- E

Question 1

Purpose of the Diamond-e

Answer 1

• Asses current strategy
• Generate new strategic proposals
• Evaluate strategic proposals
• Cannot change the environment so need to know how to react and anticipate

Question 2

5 key components

Answer 2

1. strategy
2. management preferences
3. organization
4. resources
5. environment

Question 3

strategy

what is it made up of

Answer 3

• All internal aspects affect what strategy is being used
o Can drive or constrain the strategy
• The strategy of the company affects all other internal aspects
o It is the linking variable in the model (links to environment)
• Steps that you plan on taking to achieve the goals you have
• Must be consistent with demands and opportunities of the environment
• Internal- what can we do
o Determined by internal qualities
• External
o What should we do

Question 4

strategy models

Answer 4

• Porters generic strategies and Ansoff matrix

Question 5

strategy and resources

Answer 5

• Resources determine the available strategies and what is feasible
• Existing strategy determines what resources are necessary

Question 6

strategy and managerial preferences

Answer 6

• Management preferences change the strategy being used based on what preferences the company has (risky, stable, tech-based, old-fashioned etc.)
• Existing strategy can change the way management works

Question 7

strategy and organization

Answer 7

• Organizational capabilities impact strategy implementation → good at marketing, distribution etc.
• Strategies may force companies to re-organize the company

Question 8

strategy and environment

Answer 8

• Environmental forces affecting the environment create implications for the business strategy (opportunities and challenges) → adjusts planning of the company

Question 9

management preferences

what is it made of?

Answer 9

how the company describes itself
vision
mission
preferences/biases

Question 10

vision

Answer 10

priorities and plan- outline the direction of the business

Question 11

mission

Answer 11

what the company wants, ambitions, objectives

Question 12

preferences and biases

Answer 12

influences what capabilities are developed

internal vs domestic, risk vs stability

Question 13

strategy and management preferences

Answer 13

• Management preferences change the strategy being used based on what preferences the company has (risky, stable, tech-based, old-fashioned etc.)
• Existing strategy can change the way management works

Question 14

resources and management preferences

Answer 14

• management preferences impact how resources are used based on vision, mission etc,
• Resources impact what decisions can be made based on whats available

Question 15

organization and management preferences

Answer 15

• managerial preferences influence how management makes decisions
• Management determines the structure/capabilites + set the culture

Question 16

management preferences and environment

Answer 16

• Environment limits the preferences management wishes to have

Question 17

organization

Answer 17

the company as a whole

Question 18

organization

what is it made up of

Answer 18

culture, capabilities, structure

Question 19

culture

Answer 19

“who we are”
determines the values of the company- are ideas valued?
influences what we are doing
vision and mission

Question 20

capabilities

Answer 20

as an organization what are we good at

ex- apple good at marketing

Question 21

structure

Answer 21

how we divide the work

influences how efficient/ effective you are at executing plans

Question 22

strategy and organization

Answer 22

• Strategies may force companies to re-organize the company

strategy can impact organization capabilities

Question 23

resource and organization

Answer 23

•

• Org is what we are good at → resources follow to ensure company has a competitive advantage

Question 24

organization and management preferences

Answer 24

• managerial preferences influence how management makes decisions
• Management determines the structure/capabilities + set the culture

Question 25

organization and environment

Answer 25

• Environment causes shifts in the structure or what companies choose to specialize in

Question 26

resources | what are they made up of

Answer 26

human capital financial

Question 27

human

Answer 27

o Labour o Number and skill of employees o What kind of talent the company has or needs o Determines what you can execute and what you can produce

Question 28

capital

Answer 28

o Tangible and intangible assets outside of money | o Assets you have as a company- buildings, land, patents, reputation

Question 29

financial

Answer 29

o How much money, equity and debt capacity o Does the company have enough money to acquire the needed resources o How/where to spend it

Question 30

strategy and resources

Answer 30

* Resources determine the available strategies and what is feasible * Existing strategy determines what resources are necessary

Question 31

resources and organization

Answer 31

* Resources make up the org/how its structured | * Org is what we are good at → resources follow to ensure company has a competitive advantage

Question 32

resources and managerial preferences

Answer 32

* management preferences impact how resources are used based on vision, mission etc, * Resources impact what decisions can be made based on whats available

Question 33

resources and environment

Answer 33

• Environment changes the resources available/needed to be successful

Question 34

environment

Answer 34

what must we do

Question 35

environment what is it made up of

Answer 35

``` external aspects of the business that you cannot control. political economic technological socio-cultural competitors ```

Question 36

political

Answer 36

relationship between the business and government (includes government regulations and laws of business)

Question 37

economic

Answer 37

the conditions of the economic system that the organization operates

Question 38

technological

Answer 38

what is available

Question 39

socio-cultural

Answer 39

customs, values, attitudes, demographic characteristics of a society that the organization operates in

Question 40

competitors

Answer 40

o Constraints and circumstances that we have to walkaround o The firm also influences the environment because it is a part of the environment but it is too small to make much of a difference

Question 41

environment and orgainzation

Answer 41

• Environment causes shifts in the structure or what companies choose to specialize in

Question 42

environment and management preferences

Answer 42

• Environment limits the preferences management wishes to have

Question 43

environment and resources

Answer 43

• Environment changes the resources available/needed to be successful

Question 44

environment and strategy

Answer 44

• Environmental forces affecting the environment create implications for the business strategy (opportunities and challenges) → adjusts planning of the company

Question 45

principal logic

Answer 45

everything is dependent on each other internal configuration of the company influences strategy and vise versa internal consistency and external alignment strategy must be consistent with resources of the company- feasible

Question 46

internal consistency

Answer 46

good execution

Question 47

external alignment

Answer 47

right strategy for the environment- looked at the strengths and weaknesses