general management questions
- Describe standardization, format wars, and how standardization can lead to a format war.
- Once standardization occurs, how does the industry benefit?
- During a format war, describe how competition occurs and how a price war can take shape.
- Define first and second movers. How do these two entities interact within and industry, and who learns what as the industry takes shape
- Why do companies go global? Once a company has decided to go global what entry modes could the company leverage to break in to the global market?
- What additional benefits from economies of scale does a company receive from going global?
- Describe the main strategies available to an organization going global. Describe why each strategy may be chosen.
- What are the advantages and disadvantages of the different entry modes a company can use to break in to the global market?
- Who makes strategies at the corporate level, and how is this strategy made? How would an organization with a multi-business model form their strategies? What would they target?
- Why would a company leverage horizontal integration as a strategy? What are the advantages and disadvantages?
- Why would a company leverage vertical integration as a strategy? What are the advantages and disadvantages?
- What is strategic outsourcing? Describe why a company would explore this as an alternative to vertical integration, as well as any potential advantages.
- Why do companies diversify? When do companies consider diversification?
- Describe related and unrelated diversification, and why a company would choose one diversification method or the other.
- Describe what can cause diversification to fail.
- When seeking to enter a new industry, describe the advantages and disadvantages a company may face when exploring acquisition to enter the new industry.