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21 Cards in this Set
- Front
- Back
The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organizaiton and its environment so as to achieve organizaitonal goals.
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strategic management
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the general plan of major avtion by which an organization intends to achieve its long-term goals
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grand strategy
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the standardization of product design and advertising strategies throughout the world
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globalization
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the modification of product design and advertising strategies to wuit the specific needs of individual countries
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multidomestic strategy
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a strategy that combines global coordination to attain efficiency with flexibility to meet specific needs in various countries.
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transnational strategy
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the plan of action that prescribes resouce allocation and other activities for dealing with the environment, achieving a competitive advantage, and attaining organizational goals
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strategy
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what sets the organization apart from others and provides it with a distinvtive edge in the marketplace
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competitive advantage
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a business activity that an organization does particularly well in comparison to competitors
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core competence
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the condition that exists when the organization's parts interact to produce a joint effect taht is greater than the sum of the parts acting alone
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synergy
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the level of strategy concerned with the question "what business are we in?" pertains to the organization as a whole and the combination of business units and product lines that make it up
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corporate-level strategy
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the level of strategy concerned with the question "How do we compete?" pertains to each business unit or product line within the organization
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business-level strategy
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the level of strategy concerned with teh question "How do we support the business-level strategy?" Pertains to all of the organization's major departments
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functional-level strategy
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the stage of strategic management that involves the planning and decision making that lead to the establishment of the organization's goals and of a specific stategic plan
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stategy formulation
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the state of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving stategic outcomes
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strategy implementation
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analysis of the strengths, weaknesses, opportunities, and threats (SWOT) that affect organizational performance
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situation analysis
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A division of the organization that has a unique business mission, product line, competitors, and markets relative to toher SBUs in the same corporation
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strategic business unit (SBU)
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the organization's mix of strategic business units and product lines that fit together in such a way as to provide the corporation with synergy and competitive advantage
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portfolio strategy
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a concept developed by the Boston Consulting Group that evaluates strategic buisness units with respect to the dimensions of business growth rate and market share
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BCG matrix
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a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.
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differentiation
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a type of competitve strategy with which the organization affressively seeks efficient facilities, vuts costs, and employs tight cost controls to bemore efficient than competitors
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cost leadership
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a type of competitive strategy that emphasizes concentration on a specific regional market or buyer group
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focus
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