Z302 Chapter 8 Vocab

Front 1

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

Back 1

strategic management

Front 2

the general plan of major avtion 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 wuit 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 resouce allocation and other activities for dealing with the environment, achieving a competitive advantage, and attaining organizational goals

Back 6

strategy

Front 7

what sets the organization apart from others and provides it with a distinvtive edge in the marketplace

Back 7

competitive advantage

Front 8

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

Back 8

core competence

Front 9

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

Back 9

synergy

Front 10

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 10

corporate-level strategy

Front 11

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

Back 11

business-level strategy

Front 12

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

Back 12

functional-level strategy

Front 13

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 stategic plan

Back 13

stategy formulation

Front 14

the state of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving stategic outcomes

Back 14

strategy implementation

Front 15

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

Back 15

situation analysis

Front 16

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

Back 16

strategic business unit (SBU)

Front 17

the organization's mix of strategic business units and product lines that fit together in such a way as to provide the corporation with synergy and competitive advantage

Back 17

portfolio strategy

Front 18

a concept developed by the Boston Consulting Group that evaluates strategic buisness units with respect to the dimensions of business growth rate and market share

Back 18

BCG matrix

Front 19

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

Back 19

differentiation

Front 20

a type of competitve strategy with which the organization affressively seeks efficient facilities, vuts costs, and employs tight cost controls to bemore efficient than competitors

Back 20

cost leadership

Front 21

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

Back 21

focus