Strategic Planning & Leadership Flashcards

What is the key idea behind a 'Blue Ocean Strategy'?

Answer: Creating uncontested market space that makes competition irrelevant

Blue ocean strategy seeks new demand rather than fighting for share in existing markets.

Which tool plots stakeholders by their level of power and interest to decide how to engage them?

Answer: Mendelow's power-interest grid

The power-interest grid guides whether to manage closely, keep satisfied, inform or monitor.

The VRIO framework evaluates whether a resource provides sustained competitive advantage by asking if it is valuable, rare, costly to imitate and:

Answer: Organized to capture value

The 'O' stands for organization: the firm must be set up to exploit the resource.

A manager who gives rewards for meeting targets and corrects deviations from standards is using which leadership approach?

Answer: Transactional

Transactional leadership relies on exchanges of reward and correction for performance.

In strategy implementation, which problem most commonly causes well-designed strategies to fail?

Answer: Poor communication and misaligned execution

Strategies usually fail in execution when goals are not communicated or aligned to action.

Which type of goal-setting framework pairs an inspiring objective with measurable key results?

Answer: OKRs

Objectives and Key Results link an ambitious qualitative goal to quantifiable outcomes.

Which leadership principle emphasizes serving employees' growth and well-being first so they can better serve customers?

Answer: Servant leadership

Servant leaders prioritize the needs of their team above their own authority.