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10 Cards in this Set

  • Front
  • Back
Steps in strategic management
1. Mission statement
2. SWOT analysis
3. Strategy
4. Implementation
5. Controls
6. Feedback
Generic Competitive strategies model
1. Cost leadership
2. Differentiation
3. Cost focus
4. Focused differentiation
5. Graphic depiction
5 Operations strategies
1. Cost strategy
2. Quality strategy
3. Delivery strategy
4. Flexibility strategy
5. Service strategy
Product Life Cycle
1. Precommercialization
2. Introduction stage
3. Growth stage
4. Maturity Stage
5. Decline stage
Occurs when the combination of formerly separate elements has a greater effect than the sum of their individual effects
Synergy
Product life cycle where
Product development
No Sales
High investment cost
Precommercialization
Product life cycle where
Slow sales growth
Lack of profits
Higher income customers targeted
Introduction
Product life cycle where
Sales & Profit increase rapidly
cost per customer decreasing
Growth
Product life cycle where
Sales peak but growth declines
Per customer cost is lost
Maturity
Product life cycle where
sales and profits drop as prices are cut and come entities leave market
Decline