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MGMT2
| Question | Answer |
|---|---|
| SWOT analysis | an assemssment of the strengths and weaknesses in an organization's internal environment and the opporutnities and threats in its external environment |
| Distinctive competence | what a company can make, do, or perform better than its competitions |
| Core capabilites | the internal decision-making routines, problem-solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs |
| Strategic group | a group of companies within an industry that top managers choose to compare, evalute,and benchmark strategic threats and opportunities |
| Core firms | the central companies in a strategic group |
| Secondary firms | the firsm in a strategic group that follow strategies related to but somewhat different from those of the core firms |
| Strategic refernce points | the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage |
| Corporate-level strategy | the overall organizational strategy that adresses the question "what businesses or businesses are we in or should we be in?" |
| Diversitification | a strategy for reducing risk by owning a variety of items (stocks or, in the case of a corporation, types of businesses) so that the failure of one stock or one business does not doom the entire portfolio |
| Porfolio strategy | a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines |
| Acquisition | the purchase of a company by another company |
| Unrelated diversification | creating or acquiring companies in completely unrelated businesses |
| BCG matrix | a portfolio strategy, developed by the Boston Consulting Group, that categorizes a corporation's businesses by growth rate and relative market share and helps managerse decide how to invest corporate funds |
| Star | a company with a large share of a fast-growing market |
| Question mark | a company with a small share of a fast-growing market |
| Cash cow | a company with a large share of a slow-growing market |
| Dog | a company with a small share of a slow growing market |
| Related diversification | creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures |
| Grand strategy | a braod corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use |
| Growth strategy | a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business |
| Stability strategy | strategy that focuses on improving the way in which the company sells the same products or services to the same customers |
| Retrenchement strategy | a strategy that focueses on turning around very poor company performance by shrinking the size or scope of the business |
| Recovery | the strategic actions taken after retrenchment to return to a growth strategy |
| Industry-level strategy | a corporate strategy that addresses the question "How should we compete in this industry?" |
| Character of the rivarly | a measure of the intensity of competitive behavior between companies in an industry |
| Threat of new entrants | a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry |
| Threat of subsitute products or services | a measure of the ease with which customers can find subsitutes for an indstury' products or services |
| Bargaining power of suppliers | a measure of the influecne that suppliers of parts, materials, and services to firms in an indstury have on the prices of these inputs |
| Bargaining power of buyers | a measure of the influence that customers have on a firm's prices |
| Cost leadership | the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can, so that the firm can offer the product or service at the lowest price in the industry |
| Differentiation | the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it |
| Focus strategy | the postioining strategy of using cost leadership or differentation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment |
| Defenders | firms that |
Created by:
yurpark
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