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16 Cards in this Set
- Front
- Back
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3 steps in planning |
1. Determine organizations mission and goals 2. Formulating strategy 3. Implementing strategy |
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Cooperate level plan |
Top management's decisions pertaining to the organization's mission overall strategy and structure. Provides all framework for planning |
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Business level plan |
Divisional managers decision pertaining to divisions long term goals overall strategy and structure |
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Functional level plan |
Functional managers decision pertaining to the goals that they proposed to pursue to hell the division attain business level goals |
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Time horizons |
Intended duration of a plan |
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Programs |
Integrated plans achieving specific goals |
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Project |
Specific action plans to complete programs |
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SWOT analysis |
Planning exercise in which managers identify: organizational strengths and weaknesses, external opportunities and threats |
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The five forces |
1. Level of entry 2. Potential for entry 3. Powerboat suppliers 4. Power of customers 5. Substitutes |
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Low cost strategy |
Driving the organization's total costs down below the total costs of rivals |
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Differentiation |
Distinguishing an organizations products from the products of competitors on dimensions such as product design quality and after sales services |
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Vertical integration |
Expanding a company's operations either backward into an industry that produces inputs for its products or foward into an industry that uses, distributes or sells it's products |
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Multi domestic strategy |
Customizing products and marketing strategies to specific national conditions |
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Strategic alliance |
Managers pool resources with those of a foreign company l, organizations share risk and reward |
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Joint venture |
Strategic alliance amoung companies that agree to jointly establish and share the ownership of a new business |
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Wholly owned foreign subsidiaries |
Managers invest in establishing production operations in a foreign country independent of any local direct involvement |
