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17 Cards in this Set
- Front
- Back
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Planning |
Defined as setting goals and deciding how to achieve them |
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Mission Statement |
Expresses Purpose of organization M |
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Standing plan |
For activities that occur repeatedly over period of time |
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Policy plan |
Outlines general response to a problem/situation |
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Procedure (operating) plan |
Outlines response to particular problems or circumstances |
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Rule pan |
Designated specific required action |
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Single use plan |
For activities not likely to be repeated in the future |
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Program |
Encompasses a range of projects or activities |
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Project |
Less scope and complexity than a program |
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Strategic Management |
A process that involves managers from all parts of the organization in the formulation and the implementation of strategies and strategic goals |
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Strategy |
The creation of a unique and valuable position |
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Strategic Positioning |
Attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company |
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Competitive Intelligence |
Gaining info on competitors’ activities so u can anticipate next move |
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Sources for competitive intelligence |
The public prints and advertising, investor information and informal sources |
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SWOT analysis |
search for the strengths, weaknesses, opportunities, and threats affecting the organization |
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Cost leadership strategy |
Keep costs/prices of a product/service below those of competitors and to target a wide market |
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Differentiation Strategy |
Offer products/services that are of unique and superior value with those of competitors |
