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MGT 460 Midterm
Chapter 6
Term | Definition |
---|---|
Corporate-Level Strategy | specifies actions a firm takes to gain a competitive advantage by selecting a managing a group of different businesses competing in different product markets. Concerned with what product markets and businesses to enter |
Economies of Scope | cost savings that the firm creates by successfully sharing some of its resources and capabilities or transferring one or more corporate level core competencies that were developed in one of its businesses to another of its businesses |
Backward integration | a company produces its own inputs |
Forward integration | a company owns and operates its own source of output distribution |
Vertical integration | exists when a company produces its own inputs or owns its own source of output distribution |