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40 Cards in this Set
- Front
- Back
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Definition of Effectiveness
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Doing the right thing
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Stakeholders
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individuals, groups, organization that was a stake in success of the organization
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Strategic Groups
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firms within an industry that usually follows similar strategies
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Profit Pool
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Total profits in an industry at all the points in the value chain
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"Balanced Scorecard"
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Provides managers with comprhensive view of a business
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Strategy Anaylsis
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Advance work that needs to be done in order to formulate and implement strategies
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Introduction Stage
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Of the industry life-cycle, the emphasis on product design is high, intensity competition, and market growth low
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Human Capital
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Individuals capabilities, knowledge, and skills
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Outbound Logistics
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Associated with collections, storing, distributing the product or service
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Current Ratio
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Companies ability to meet financial obligations
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Emerging sociocultural changes in the enviroment
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Include increasing education attainment of women in the past decade
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Strategy implementation
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Proper Strategic controls and organizational designs
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SWOT
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focus on the external environment (needed area)
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"Pied Piper Effect"
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Capture employees from competitors, bring leader over and hope of following
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Strategy formulation and implementation
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ongoing process, involves everyone
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Social Complexity
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Interpersonal relations among managers of a firm, culture, reputation with suppliers and customers
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Social Capital
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Network of relationships that individuals have throughout an organization
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Focus Strategy
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You must focus on market segments or group of segments
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Customer Service
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Includes ex.parts and supply
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360-degree evaluation and feedback system
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supervisor, colleagues, and customers hate a person's skill performance
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Primary Activites
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ex. baggage handling tie into the customer service
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High Product Differentiation
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Usually accompanied by a decreased emphasis on competition based on price
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Gross Domestic Products of developed countries
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Changed,now based on knowledge
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Leaders should emerge at what level
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throughout the organization at all levels
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Buyer power
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is greater when concentrated or when purchasing large volume relative to sellers sales
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Poison Pill
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anti-takeover tactic in which shareholders can buy additional shares of stock of discount
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Successful firms use internal labor markets
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use because they want to keep mobil employees motivated and challenged
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Inbound logistics
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Warehousing and inventory control
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Mission
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encompass the purpose of the company and the basis for competition
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Parenting
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Firms corporate office helps subsidiary make wise choices in acquisitions and new ventures
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"Cash Cow"
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BCG technique, low market growth, high Market share
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Intangible Resources
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embedded in the practices such as trust on effective work teams
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Just-in-time (JIT)
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Focus on low cost, high quality, on time production
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Demographic Changes
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aging of population, ethnic composition, affects of the baby boom
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Entry barrier
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large economies of scale
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Intense Rivalry with competition
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when you have high fix cost and slow growth industry and high exit barriers
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Human Resource Management
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Activities that involve recruiting, training, hiring, development,and compensation
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Likely time to pursue a harvest strategy
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when you have a decline in market life cycle
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Sharing Activities
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when management uses common production facilities to distribute common but different products
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Restructuring
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A firm tries to acquire poor earning firms knowing that the industry will have positive change
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