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22 Cards in this Set
- Front
- Back
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Mission
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defines the orgs purpose- what it will contribute to society
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Strategy
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an organizations action plan to achieve the mission
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Competitive advantage
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implies the creation of a system that has a unique advantage over competitors and this is possible via differentiation, low cost, and response
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Differentiation
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provides uniqueness, offerings of an org in a way that customer percieves as adding value
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Experience differentiation
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engaging a customer with a product through imaginative use of the five senses, so the customer experiences the product
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Response
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A set of values related to rapid, flexible, and reliable performance
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Flexible response
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match changes in a marketplace where design innovations and volumes fluctuate substantially
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Reliability
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maintaning reliable scheduling, and they perform to these schedules
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Resources View
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method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage
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Value-chain anaylsis
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way to identify those elements in the produce/service chain that uniquely add value
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Five forces model
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seek out potential competing forces that are immediate rivals, potential entrants, customers, suppliers, and substitute
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Key Success Factors (KSFs)
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activities or factors that are key to achieving competitive advantage
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Core competencies
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a set of skills, talents, and capabilities in which a firm is particularly strong
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Activity map
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graphical link of competitive adv, KSFs, and supporting activities
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Outsourcing
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transferring a firms activities that have traditionally been internal to external suppliers
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Theory of comparitive advantage
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theory which states that countries benefit from specializing in and exporting goods and services in which they have relative adv, and they benefit from importing goods and services in which they have a relative disadvantage
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International Business
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a firm that engages in cross border transactions
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Multinational Corporation (MNC)
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a firm that has extensive involvement in international business, owning or controlling facilities in more than one country
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international strategy
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in which global markets are penetrated using exports and licenses
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Multidomestic strategy
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in which operating decisions are decentralized to enhance local responsiveness
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Global strategy
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in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities
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Transnational strategy
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combines the benefits of global-scale efficiencies with the benefits of local responsiveness
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