A unique skill and/or knowledge an organization possesses that gives it an edge over competitors.

Define the role of core capabilities in strategic planning.

Provides a leverage and something the company needs to consider and recognize as their strong points.

A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.

Define the components of a SWOT analysis.

it's like a pros and cons chart but for company use.

Comparing the companies basic functions and skills with another company to identify the best method.

The acquisition or development of new businesses that produce parts or components of the organization’s product.

Define vertical integration strategy.

Adding the full circle. EX: From the farms to the grocery store basically cutting out the middle man.

differentiation strategies

A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.

Distinguish between cost and differentiation strategies an organization may use to gain competitive advantage.

Low cost is being able to buy more at a cheaper cost being able to offer slightly lower priced product but not perfect service nor quality. where Differentiation stays strict on quality and service even if it may affect the price.

A strategy an organization uses to build competitive advantage by being efficient and offering a standard no-frills project.

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wgu- c483

Principles of Management - simplified

Term	Definition
core capability	A unique skill and/or knowledge an organization possesses that gives it an edge over competitors.
Define the role of core capabilities in strategic planning.	Provides a leverage and something the company needs to consider and recognize as their strong points.
SWOT	A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
Define the components of a SWOT analysis.	it's like a pros and cons chart but for company use.
Benchmarking	Comparing the companies basic functions and skills with another company to identify the best method.
Vertical Integration	The acquisition or development of new businesses that produce parts or components of the organization’s product.
Define vertical integration strategy.	Adding the full circle. EX: From the farms to the grocery store basically cutting out the middle man.
differentiation strategies	A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.
Distinguish between cost and differentiation strategies an organization may use to gain competitive advantage.	Low cost is being able to buy more at a cheaper cost being able to offer slightly lower priced product but not perfect service nor quality. where Differentiation stays strict on quality and service even if it may affect the price.
Low-cost	A strategy an organization uses to build competitive advantage by being efficient and offering a standard no-frills project.
Contrast organic structural models with mechanistic structural models.
Organic structural models
Mechanistic structural models
Identify the steps for managing an organization’s resources
Differentiate the steps in the strategic planning process
Differentiate strategic vision from strategic mission.
Define the value chain concept.
Define the purpose of value chain analysis.
Describe the Five Forces model of competitive forces.

Created by: Jesuisbanan

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