Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ch. 4 Bateman

Management - Ch. 4 Strategical Planning

QuestionAnswer
SWOT Analysis A comparison of strength, weakness, opportunities, and treats that helps executives formulate strategy.
Corporate Strategy The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities.
Concentration A strategy employed for an organization that operates a single business and competes in a single industry.
Vertical Integration The acquisition or development of new business that produce parts or components of the organizations product.
Concentric Diversification A strategy used to add new businesses that produce related products or are involved in related markets and activities.
Business Strategy The major actions by which an organization competes in a particular industry or market.
Low-cost Strategy A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product.
Strategic Planning A set of procedures for making decisions about the organization's long-term goals and strategies.
Strategic Goals Major targets or end results relating to the organization's long-term survival, value, and growth.
Uncertainty The state that exists when decision makers have insufficient information.
State Uncertainty Uncertainties related to the enviroment itself *enviroment unpredictable.
Goal A target or end that management desires to reach.
Plans The actions or means managers intend to use to achieve organizational goals.
Situational Analysis A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
Scenario A narrative that describes a particular set of future conditions.
Strategy A pattern of actions and resourse allocations designed to achieve the organization's goals.
Tactical Planning A set of procedures for translating broad strategic goals and plans that are relevant to a particular portion or the organizaiton, such as a functional area like marketing.
Operational Planning The process of identifying the specific procedures and processes required at lower levels of the organization.
Strategic Management A process that involves managers from all part of the organizaiton in the formulation and implementation of strategic goals and strategies.
Stakeholders Groups and indviduals who affect and are affected by the achievement of the organization's mission, goals, and strategies.
Resources Imputs to a system that can enhance performance.
Core Competence A unique skill and/or knowledge an organization possesses that gives it an edge over competitors.
Differentiation Strategy A strategy an organization uses to build competitive advantage by being unique in its industy or market segment alon one or more dimensions.
Functional Strategies Strategies implemented by each functional area of the organizaiton to support the organization's busines strategy.
Certainty The state that exists when decision makers have accurate and comprehensive information.
Risk The state that exists when the probability of success is less than 100 percent and losses may occur.
Maximizing A decision realizing the best possible outcome.
Satisficing Choosing an option that is acceptable, although not necessarily the best or perfect.
Optimizing Achieving the best possible blance among several goals.
Groupthink A phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus.
Prospect Theory Overweigh the potential losses.(asymmetry)
Conglomerate Diversification Used to add new business that produce unrelated products or are involved in unrelated markets and activities
Created by: bpark
Popular Management sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards