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39 Cards in this Set

  • Front
  • Back
situation analysis
the process of finding a strategic fit between external opportunities and internal strengths while working around external and internal weaknesses
SWOT analysis
strengths, weaknesses, opportunities, and threats that are strategic factors for a specific company.
-identify distinctive competencies and identification of opportunities
propitious niche
-Extremely favorable niche
-where an organization can use its core competencies to take advantage of a particular market opportunity and the niche is just enough for one firm to satisfy its demand
a need in the marketplace that is currently unsatisfied
sweet spot
-a company is able to satisfy customers' needs in a way that rivals cannot
-area between customer's needs and company's capabilities
strategic window
-a unique market opportunity that is available for a particular time
TOWS Matrix
illustrates how the external opportunities and threats can be matched with internal strengths and weaknesses to result in 4 possible strategic alternatives
-provides a mean to brainstorm alternative strategies
-forces managers to create various kinds of growth and retrenchment strategies
-used to generate corporate as well as business strategies
SO Strategies
generate strategies here that use strengths to take advantage of opportunities
WO strategies
generate strategies here that take advantage of opportunities by overcoming weaknesses
ST strategies
generate strategies here that use strengths to avoid threats
WT strategies
generate strategies here that minimize weaknesses and avoid threats
business strategy
focuses on improving the competitive position of a company's or business unit's products or services within the specific industry or market segment it serves
-competitive strategy
-cooperative strategy
lower cost strategy
the ability of a company or business unit to design, produce and market a comparable product more efficiently than its competitors
differentiation strategy
the ability of a company or business unit to provide a unique or superior value to the buyer in terms of product quality, special features, or after sale service
cost leadership
a lower cost competitive strategy that aims at the broad mass market and requires efficient scale facilities, cost reductions, cost and overhead control
involves the creation of a product or service that is perceived throughout the industry as unique.
-associated with design, brand image, technology, features, dealer network, or customer service
cost focus
a low cost competitive strategy that focuses on a particular buyer group or geographic market and attempts to serve only this niche to the exclusion of others
ex) house brand products
differentiation focus
concentrates on a particular buyer group, product line segment, or geographic market to serve the needs of a narrow strategic market more effectively than its competitors
-ex) local organic store
timing tactics
when a company implements a strategy
first mover
first company to manufacture and sell a new product or service
-ex)microsoft: windows operating system
late movers
may be able to imitate the technological advances of others, keep risks down by waiting until a new technological standard or market is established, and take advantage of the first mover's natural inclination to ignore market segments
market tactics
deals with where a company implements a strategy
offensive tactics
used to attack a competitors position
frontal assault
-head to head with competitor
-matches the competitor in every category from price to promotion distribution channel
flanking maneuver
a firm may attack part of the market where the competitor is weak
ex)Texas instruments
bypass attack
company or business unit may choose to change the rules of the game
occurs as an attacking company or unit encircles the competitor's position in terms of products or markets or both
guerrilla warfare
use of small, intermittent assaults on different market segments held by the competitor.
defensive tactics
aim to lower the probability of attack, divert attacks to less threatening avenues, lessen the intensity of an attack
raise structural barriers
entry barriers act to block a challenger's logical avenues of attack
increase expected retaliation
any action that increases the perceived threat of retaliation for an attack
lower the inducement for attack
reduce the expectations of future profits in the industry
cooperative strategies
used to gain a competitive advantage within an industry by working with other firms
the active cooperation of firms within an industry to reduce output and raise prices to avoid economic law of supply and demand
strategic alliance
a long term cooperative arrangement between two or more independent firms or business units that engage in business activities for mutual economic gain
1)obtain or learn new capabilities
2)obtain access to specific markets
3)reduce financial risk
4)reduce political risk
mutual service consortia
partnership of similar companies in similar industries that pool their resources to gain a benefit that is too expensive to develop alone, such as access to advanced technology
joint venture
cooperative business activity, formed by two or more separate organizations for strategic purposes, that creates an independent business entity and allocates ownership, operational responsibilities, and financial risks and rewards each member, while preserving their separate identity/autonomy.
licensing arrangement
agreement in which the licensing firm grants rights to another firm in another country or market to produce and or sell a product
value chain partnership
strong and close alliance in which one company or unit forms a long term arrangement with a key supplier or distributor for mutual advantage