Principles of Management
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| A strategy used to add new businesses that produce unrelatd products or are involved in unreleated markets and activities | Conglomerate diversification
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| A unique skill and/or knowledge an organization possesses that gives it an edge over competitors. | Core competence
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| The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities. | Corporate strategy
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| A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. | Differentiation strategy
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| Strategies implemented by each functional area of the organization to support the organization's business strategy. | Functional strategy
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| A target or end that management desires to reach. | Goal
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| A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product. | Low-cost strategy
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| An organization's basic purpose and scope of operations. | Mission
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| The process of identifiying the specific procedures and processes required at lower levels of the organization. | Operational planning
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| The actions or means managers intend to use to achieve organizational goals. | Plans
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| Inputs to a system that can enhance performance. | Resources
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| A narrative that describes a particular set of future conditions. | Scenario
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| A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration. | Situational analysis
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| Groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies. | Stakeholders
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| A system designed to support managers in evaluating the organization's progress regarding its strategy and, when discrepancies exist, taking corrective action. | Strategic control system
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| Major targets or end results relating to the organization's long term survival, value, and growth. | Strategic goals
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| A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies. | Strategic management
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| A set of procedures for making decisions about the organization's long-term goals and strategies. | Strategic planning
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| The long-term direction and strategic intent of a company. | Strategic vision
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| A pattern of actions and resource allocations designed to achieve the organization's goals. | Strategy
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| A comparision of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy. | SWOT analysis
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| A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing. | Tactical planning
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| The aquisition or development of new businesses that produce parts or components of the organization's product. | Vertical integration
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| The major actions by which a business competes in a particular industry or market. | Business strategy
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| A strategy employed for an organization that operates a single business and competes in a single industry. | Concentration
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| A strategy used to add new businesses that produce related products or are involved in related markets and activities. | Concentric diversification
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| The use of computer-aided design and computer-aided manufacturing to sequence and optimize a number of production processes. | Computer-integrated manufacturing (CIM)
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| A process that is highly automated and has a continuous production flow. | Continuous process
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| A multifaceted process focusing on creating two-way exchanges with customers to foster intimate knowledge of their needs,wants, and buying patterns. | Customer relationship management (CRM)
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| The planned elimination of positions or jobs. | Downsizing
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| Economies in which materials and processes employed in one product can be used ot make other, related products. | Economies of scope
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| Manufacturing plants that have short production runs, are organized around products, and use decentralized scheduling. | Flexible factories
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| A type of organization in which top management ensures that there is consensus about the direction in which the business is heading. | High-involvment organization
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| A series of quality standards developed by a committee working under the International Organization for Standardization to improve quality in all businesses for the beneffit of producers and consumers. | ISO 9001
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| A system that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process just as they are needed. | Just-in-time (JIT)
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| Technologies that produce goods and services in high volume. | Large batch
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| An operation that strives to achieve the highest possible productivity and total quality, cost effectively, by eliminating unnecessary steps in the production process and continually striving for improvement. | Lean manufacturing
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| An organization skilled at creating, acquiring, and transferring knowledge, and at modifiying its behavior to reflect new knowledge and insights. | Learning organization
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| The movement of the right goods in the right amount to the right place at the right time. | Logistics
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| The production of varied, individually customized products at the low cost of standardized, mass-produced products. | Mass customization
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| A form of organization that seeks to maximize internal efficiency. | Mechanistic organization
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| An organizational form that emphasizes flexibility. | Organic structure
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| A successful effort to achieve an appropriate size at which the company performs most effectively. | Rightsizing
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| A design approach in which all relevant functions cooperate jointly and continually in a maximum effort aimed at producing high-quality products that meet customers' needs. | Simultaneous engineering
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| Technologies that produce goods and services in low volume. | Small batch
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| A formal relationship created amoung independent organizations with the purpose of joint pursuit of mutual goals. | Strategic alliance
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| Loss of productivity and morale in employees who remain after a downsizing. | Survivor's syndrome
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| The systematic application of scientific knowledge to a new product, process, or service. | Technology
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| Strategies aimed at reducing the total time it takes to deliver a good or service. | Time-based competition (TBC)
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| An integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that reslut in high-quality goods and services. | Total quality management (TQM)
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| The sequence of activities that flow from raw materials to the delivery of a good or service, with additional value created at each step. | Value chain
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| Charging fees to advertise on a site. | Advertising support model
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| Charging fees to direct site visitors to other companies' sites. | Affiliate model
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| Informal work on projects, other than those officially assigned, of employees' own choosing and initiative. | Bootlegging
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| Protected environments for new, small businesses. | Business incubators
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| A formal planning step that focuses on the entire venture and describes all the elements involved in starting it. | Business plan
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| Individuals who establish a new organization without the benefit of corporate sponsorship. | Entrepreneur
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| The tendency of an organization to identify and capitalize successfully on opportunities to launchnew ventures by entering new or established markets with new or existing goods or services. | Entrepreneurial orientation
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| A new business having growth and high profitability as primary objectives. | Entrepreneurial venture
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| The pursuit of lucrative opportunities by enterprising individuals. | Entreprenuership
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| An entrepreneurial alliance between a franchisor (an innovator who has created at least one successful store and wants to grow) and a frachisee (a partner who manages a new store of the same type in a new location). | Franchising
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| Sale to the public, for the first time, of federally registered and underwritten shares of stock in the company. | Initial public offering (IPO)
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| Charging fees to bring buyers and sellers together. | Intermediary model
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| New-venture creators working inside big companies. | Intrapreneurs
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| People's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values. | Legitimacy
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| A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, specification of activities and resources needed to translate your idea into a viable business, and your source(s) of capital. | Opportunity analysis
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| As you head down a road, unexpected opportunities begin to appear. | Side street effect
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| A project team designated to produce a new, innovative product. | Skunkworks
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| A business having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative pratices. | Small business
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| A competitive advantage in the form of relationships with other people and the image other people have of you. | Social capital
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| Charging fees for site visits. | Subscription model
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| Charging fees for goods and services. | Transaction fee model
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