Internal Responses |
The Internal Responses section includes the following categories: Mission & Strategy & Goals, Leadership & Corporate Culture, Historical Context, Organization Structure & Behavior, Human Resources, Operations & Processes, Research & Development, Pricing, Promotional Mix, Logistics & Distribution & Supply Chain, Market Research Intelligence, Telecommunications & Computing, Risk Management, and Financial. The essential questions and corresponding tools can be found below. In addition, tools and models highlighted in turquoise lead to an external link for more information.
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Mission, Strategy, & Goals
Essential Questions• What is our mission?
- Does our company effectively execute this mission? • What is our overall strategy? - What do we do well as a company? What do we need to improve on in the future? • How do we measure our goals? - What are our short-term goals and our long-term goals? - How do we measure success? |
Tools/Models• SWOT Analysis
• Company Website |
Leadership & Corporate Culture
Essential Questions• What is our dominant operating style?
- How do we execute our style? • What’s our outlook on leadership? - How are our employees managed and led? - How do we keep employees accountable for the well- being of our product? - What degree of leadership opportunity exists? • What is our corporate culture? - How do we execute our culture and measure its success? |
Tools/Models• Corporate Culture Model
• Hersey & Blanchard's Situational Leadership Model |
Historical Context
Essential Questions• What are our tendencies?
- Historically, what are our strengths and weaknesses? • What is the history of our product? - How have we changed over time? - Are we evolving with our products and environment? • How has our past shaped where we are today? • What milestones have we achieved as a company? • What changes in leadership have occurred in the past and how have they affected us? • What is our firm DNA? |
Tools/Models |
Organization Structure & Behavior
Essential Questions• What type of organization are we?
• How do we make decisions? • Are we consistent and controlled? - What span of control exists across the board of our firm? • Who has the power within the firm? • What is our structure? - How flat or hierarchical are we? • What are our management strategies from top to bottom? • Who owns our firm? - Are we privately held or publically traded? - Who makes up our board of directors? • How do our structure support the activities and goals of the firm? |
Tools/Models |
Human Resources
Essential Questions• How many employees do we currently have?
• What type of skill sets do we seek in our employees? - What degree of expertise is necessary? • How do we acquisition talent? - How do we hire/fire or retain employees? • What is our policy and process for advancement? - How do we recognize top employees? - How do we motivate employees? - What’s the turnover rate? • How are employee conflicts handled in our organization? |
Tools/Models• Comprehensive Model of Motivation
• Maslow's Hierarchy of Needs |
Operations & Processes
Essential Questions• How do we operate?
• How many departments do we have? - Are our departments independent or interdependent of each other? • How does our firm communicate internally? • What are the major processes within our organization? - How do we buy/sell? - How can we improve or streamline these processes? - Will disintermediation improve our processes and organization? • Who do we work with outside of our firm? |
Tools/Models• Business Model Integration
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Research & Development
Essential Questions• Do we do research and development in-house or
outsource? - What research are we doing or planning to do? - How many resources do we devote to research and development? - Is our research and development expensive? • How quickly do we improve or change our product? • What is the research and development process? • Is the company a development leader or follower of the industry trends? • How up-to-date is our research and development? • What is the history of our product? |
Tools/Models |
Pricing
Essential Questions• How is our product priced?
- What discounts or other pricing modifications are available for our product? - How does our pricing compare to our core competitors? - Is there a large range of pricing in the industry? * Where do we fall on the spectrum of pricing? * Are there stipulations (caps, ceilings, floors) on our pricing? • What are our pricing goals? • What is our pricing strategy? • How does volume affect our pricing model and product? • How aggressive is our pricing compared to competitors? • What is our speed in reacting to price fluctuations? |
Tools/Models• Four Approaches for Selecting Price
• Break-Even Analysis Chart |
Promotional Mix
Essential Questions• What is our current promotional mix?
- How recognizable is our brand? - What is our most effective promotional material? • How can we better sell our product? - How equitable is our brand? - How do we engage our consumers through our promotional materials? • What is our current desired sales force behavior? - How do we execute our DSFB? • What are our communication goals? • What thresholds exist in executing our promotional plan? |
Tools/Models• The Five Elements of the Promotional Mix Model
• Advantages and Disadvantages of Media Alternatives Model • The Personal Selling Process • The Communication Process |
Logistics, Distribution, & Supply Chain
Essential Questions• How do we work with our suppliers?
- Are our transactions with business partners made efficiently? - Do we maintain strong relationships with our suppliers, manufacturers, distributors, and retailers? • How broadly does this good need to be distributed? -Where does this product have to be located for us to be successful in the market place? • What kind of structure do you need for your channel of distribution? - What flows of function are going to occur? (Flow of money, flow of ownership, packaging, assortment) • What is the required structure of the channel? • How much variance is there in the demand for this product? - What level of service is required in this channel? - What are the associated costs with mistakes? |
Tools/Models• Porter's Five Forces Model
• Supply Chain Flow Chart |
Market Research Intelligence
Essential Questions• What type of market research have we done in the
past? - How volatile is the environment? - How responsive are we to changes? • What pertinent information is needed to best understand the market? • How long will it take to gain market knowledge? • How much will this research cost? - How effective has our research been in the past? • What do we know about the market at this time? - What can we gather from our secondary research? - How responsive are we to our consumers and the environment? • What primary and secondary research is available/needs to be done? |
Tools/Models• Vector Model
• SCAMPER Model |
Telecommunications & Computing
Essential Questions• What forms of communications do we currently
utilize? - Are our systems able to support our organization and product demands? - Are there programs that can better support our needs? • How do we implement our telecommunications and computing devices? • Is this an area where we have a competitive advantage? • How do we capture and use data? • What is the purpose of our IT and TC systems? • How do we leverage data to our advantage over our competitors? |
Tools/Models• The Communication Process
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Risk Management
Essential Questions• How willing are we to take risks?
- Does our product/industry require a degree of risk? - What are the major risks we are taking as a firm? - How do we diversify our risk? - What are the ways in which we protect ourselves? • What is our current contingency plan? • How do we monitor risk and quality control? |
Tools/Models |
Financial
Essential Questions• How do we make money?
- What’s our break-even point? - What are our margins? • What return are we providing for our stockholders? • What were our cash levels and how do they affect our business practices? - How much liquidity exists in our firm? - How do we manage debt? • Are we a public or private firm? - Should we be public or private? • What is our firm’s financial structure? • How do we achieve operational efficiency and maintain it? • How do we evaluate projects, actions, and investments? • Is our company profitable? |
Tools/Models• BEP Quantity = (Fixed Cost) / (Unit Price - Unit Variable
Cost) • Break-Even Analysis Chart • Balance Sheet • Income Statement • Cash Flow Analysis |