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7 Cards in this Set
- Front
- Back
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Business-Level Strategy |
Is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploring core competencies in specific product markets. |
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Market Segmentation |
Is a process used to cluster people with similar needs into individual and identifiable groups. |
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Cost Leadership Strategy |
An integrated set of actions taken to produce goods or services with features that are acceptable to customers at the lowest cost, relative to that of competitors. |
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Differentiation Strategy |
Is an integrated set of actions taken to produce goods or services that customers perceive as being different in ways that are important to them. |
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Focus Strategy |
Is an integrated set of actions taken to produce goods or services that serve the needs of a particular competitive segment. |
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Integrated Cost Leadership/Differentiation Strategy |
Involves engaging in primary value chain activities and allows a firm to simultaneously pursue low cost and differentiation. |
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Total Quality Management (TQM) |
A managerial process that emphasizes an organization's commitment to the customer and to continuous improvement of all processes through problem solving approaches based on empowerment of employees. |
