Chapter 13, Problem 1DQ

What strategic analysis tools from the previous chapter would a manager use when planning a strategy for an existing business? What tools would be most helpful for a start-up business?

Describe the three levels of strategy and what a manager developing strategy at each level is concerned with.

What are the similarities and differences between vision and mission?

What is the difference between official and operational goals?

What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group?

What are multiple goals? What is a goal hierarchy? How are these concepts related?

What is VRIO? What questions do the letters stand for, and how does using VRIO help a manager make decisions?

Why is performance measurement often the start of new strategy development?

How do the internal and external environments of the organization and its strengths and weaknesses impact the planning process?