I Bus 300 Vocab Ch 4

Front 1

benchmarking

Back 1

an exmanination on whether a firm has resources and capabilites to perform a particular activity in a manner superior to competitors

Front 2

capability

Back 2

the tangible and intangible assets a firm uses to choose and implement its strategies

Front 3

captive sourcing

Back 3

setting up subsidaries abroad so that the work done is in-house but the location is foreign. Also known as FDI (foreign direct investment)

Front 4

causal ambiguity

Back 4

the difficulty of identifying the causal determinants of succesful firm performance

Front 5

commoditization

Back 5

a process of market competition through which unqiue products that command high prices and high margins gradually lose their ability to do so, thus becoming commodities

Front 6

complementary assets

Back 6

the combination of numerous resources and assets that enable a firm to gain a competitive advantage

Front 7

inshoring

Back 7

outsourcing to a domestic firm

Front 8

intangible resources and capabilities

Back 8

assets that are hard to observe and difficult (if not impossible) to quantify

Front 9

off shoring

Back 9

outsourcing to a n international or foreign firm

Front 10

OBM (original brand manufacturer)

Back 10

a firm that designs, manufactures, and markets branded products

Front 11

ODM(Original Design Manufacturer)

Back 11

a firm that both designs and manufactures products

Front 12

OEM (original equipment manufacturer)

Back 12

a firm that executes design blueprints provided by other firms and manufactures such products

Front 13

outsourcing

Back 13

turning over an organizational activity to an outside supplier that will perform it on behalf of the focal firm.

Front 14

resource

Back 14

the tangible and intangible assets a firm uses to choose and implement its strategies

Front 15

resource-based view

Back 15

a leading perspective in global business that posits that firm performance is fundamentally driven by differences in firm-specific resources and capabilities

Front 16

social complexity

Back 16

the socially intricate and interdependent ways firms are typically organized

Front 17

SWOT analysis

Back 17

an analytical tool for examining a firm's strengths, weakness, opportunities, and threats

Front 18

Tangible resources and capabilites

Back 18

assets that are easily observable and easily quantified

Front 19

Value chain

Back 19

a chain of vertical activities used in the production of goods and services that add value

Front 20

VRIO framework

Back 20

the resource-based framework that focuses on the Value, Rarity, Imitability, and Organizational aspects of resources and capabillities