What is strategy (Johnson, Scholes & Whittington)?
The long-term direction and scope of an organisation that achieves advantage through configuration of resources in a changing environment to meet stakeholder expectations. Use when defining or evaluating strategy in any scenario.
What is the Rational Strategic Planning model?
A formal, top-down approach to strategy involving analysis, choice and implementation. Use when strategy is deliberate and the environment is stable.
What are the stages of the Rational Planning model?
External analysis; Internal analysis; Mission & objectives; Gap analysis; Strategic choice; Implementation; Review and control.
When should an Emergent Strategy be used?
When strategy evolves through learning and adaptation in uncertain or fast-changing environments.
What is the Ashridge Mission Model?
A framework for evaluating mission statements: Purpose, Strategy, Policies, Values. Use when assessing or drafting a mission statement.
What are SMART objectives?
Objectives that are Specific, Measurable, Achievable, Relevant and Time-bound. Use when evaluating the quality of objectives.
What is Mendelow’s Matrix?
A stakeholder analysis tool based on power and interest. Use when prioritising stakeholder engagement (e.g. regulators vs customers).
What is PESTEL analysis?
A macro-environment analysis tool covering Political, Economic, Social, Technological, Environmental and Legal factors. Use to identify external opportunities and threats.
What is Porter’s Five Forces?
An industry analysis model assessing rivalry, threat of new entrants, threat of substitutes, buyer power and supplier power. Use to assess industry attractiveness.
What is the Industry Life Cycle model?
A model showing stages of industry development: introduction, growth, maturity, decline. Use when discussing market maturity or competitive intensity.
What are Critical Success Factors (CSFs)?
Key areas an organisation must perform well in to succeed. Use to identify what truly drives success.
What is the 9Ms model?
A resource audit tool: Men, Money, Machines, Materials, Markets, Methods, Management, MIS, Make-up.
When should the 9Ms be used in an exam?
Use when a strategy may fail in practice due to lack of resources, skills, systems, funding or management capability.
What are Core Competences?
Capabilities that provide sustainable competitive advantage and are difficult to imitate. Use when explaining long-term outperformance.
What is Porter’s Value Chain?
A model analysing primary and support activities that add value. Use to assess cost leadership or differentiation.
What is SWOT analysis?
A framework combining strengths, weaknesses, opportunities and threats. Use to summarise analysis before recommending strategy.
What is Gap Analysis?
A comparison of current performance with desired objectives. Use when performance is below target.
What are Porter’s Generic Strategies?
Cost leadership, differentiation and focus. Use when explaining how a firm competes.
What is Ansoff’s Matrix?
A growth strategy framework: market penetration, market development, product development, diversification. Use when evaluating growth options.
What is the Product Life Cycle?
A model showing stages of a product’s life over time. Use when discussing pricing, marketing or innovation.
What is the BCG Matrix?
A portfolio analysis tool categorising products as stars, cash cows, problem children or dogs. Use for resource allocation.
What is international strategy?
Strategy concerned with competing in overseas markets. Use when expansion abroad is considered.
What is Porter’s Diamond Model?
A model explaining national competitive advantage. Use for country-level analysis.
What is organisational structure analysis?
Assessment of functional, divisional or matrix structures. Use when evaluating strategy implementation.
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Chapter 2 - Strategy and Business13
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Chapter 3 - Purpose and Stakeholders8
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Chapter 4 - Macro Environment8
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Chapter 5 - Industry Environment6
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Chapter 6 - Strategic Capability11
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Chapter 7 - Strategic Options9
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Chapter 8 - International Strategy16
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Chapter 9 - Strategy and Structure8
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Chapter 10 - Risk Management5
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Chapter 12 - Performance Measurement5
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Chapter 13 - Information Systems8
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Chapter 14 - Innovation and Technology10
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Chapter 15 - Change Management4
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Chapter 16 - Ethics and ESG4
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Summary Chapter - Models36
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Model Recognition Tests72
