2- Management Lesson 04 - Chapter 8

Front 1

The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Back 1

strategic management

Front 2

The general plan of major action by which an organization intends to achieve its long-term goals.

Back 2

grand strategy

Front 3

The standardization of product design and advertising strategies throughout the world.

Back 3

globalization

Front 4

The modification of product design and advertising strategies to suit the specific needs of individual countries.

Back 4

multidomestic strategy

Front 5

A strategy that combines global coordination to attain efficiency with flexibility to meet specific needs in various countries.

Back 5

transnational strategy

Front 6

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals.

Back 6

strategy

Front 7

A business activity that an organization does particularly well in comparison to competitors.

Back 7

core competence

Front 8

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone.

Back 8

synergy

Front 9

The level of strategy concerned with the question, "What business are we in?" Pertains to the organization as a whole and the combination of business units and product lines that make it up.

Back 9

corporate-level strategy

Front 10

The level of strategy concerned with the question "How do we compete?" Pertains to each business unit or product line within the organization.

Back 10

business-level strategy

Front 11

The level of strategy concerned with the question "How do we support the business-level strategy?" Pertains to all of the organization's major departments.

Back 11

functional-level strategy

Front 12

The stage of strategic management that involves the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan.

Back 12

strategy formulation

Front 13

The stage of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Back 13

strategy implementation

Front 14

Analysis of the strengths, weaknesses, opportunities, and threats (SWOT) that affect organizational performance.

Back 14

situation analysis

Front 15

A type of corporate-level strategy that pertains to the organization's mix of SBUs and product lines that fit together in such a way as to provide the corporation with synergy and competitive advantage.

Back 15

portfolio strategy

Front 16

A division of the organization that has a unique business mission, product line, competitors, and markets relative to other others in the same corporation.

Back 16

strategic business unit (SBU)

Front 17

A concept developed by the Boston Consulting Group that evaluates SBUs with respect to the dimension of business growth rate and market share.

Back 17

BCG matrix

Front 18

A type of competitive strategy with which the organization seeks to distinguish its products or services from competitors'.

Back 18

differentiation

Front 19

A type of competitive strategy with which the organization aggressively seeks efficient facilities, cuts costs, and employs tight cost controls to be more efficient than competitors.

Back 19

cost leadership

Front 20

A type of competitive strategy that emphasizes concentration on a specific regional market or buyer group.

Back 20

focus

Front 21

Types of Competitive strategies?

Back 21

1) Differentiation
2) Cost Leadership
3) Focus

Front 22

purpose of strategy?

Back 22

1) Core competency
2) Synergy
3) Value creation