Vocab
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| show | The assets, capabilities, processes, info, and knowledge that an organization uses to improve its effectiveness and efficiency, create and sustain competitive advantage, and fulfill a need or solve a problem
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| Competitive Advantage | show 🗑
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| show | A competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate. Four conditions must be met to have sustainab. compet adv: rare, valuable, imperfectly imitable,& non-substitutable
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| show | Resources that allow companies to improve efficiency and effectiveness
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| Rare Resources | show 🗑
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| Imperfectly Imitable Resources | show 🗑
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| show | Resources that produce value or competitive advantage and have no equivalent substitutes or replacements.
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| show | 1) assess the need for strategic change
2) conduct a situational analysis
3) choose a strategic alternative
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| Competitive Inertia | show 🗑
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| Strategic dissonance | show 🗑
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| Situational Analysis | show 🗑
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| Assess need for strategic change | show 🗑
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| Distinctive competence: | show 🗑
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| Core capabilities: | show 🗑
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| Strategic Group | show 🗑
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| Core firms | show 🗑
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| Secondary firms | show 🗑
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| show | After detrmining the need for strategic change and conducting a situational analysis, it is the last step in the strategy making process. It will help the company create or maintain a sustainable competitive advantage.
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| Strategic Reference points | show 🗑
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| Corporate level strategy | show 🗑
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| show | A strategy for reducing risk by owning a variety of items (stocks, or in the case of a corporation, types of business) so that the failure of one stock or business does not doom the entire portfolio
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| show | A corporate level strategy that minimizes risk by diversifying investment among various businesses or product lines.
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| Acquisition | show 🗑
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| Unrelated diversification | show 🗑
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| BCG Matrix | show 🗑
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| show | A company with a large share of a fast growing market
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| Question Mark | show 🗑
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| Cash Cow | show 🗑
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| Dog | show 🗑
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| show | Creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures.
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| show | A broad corporate-level srategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use. Three kinds: growth, stability, and retrenchment/recovery
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| show | Type of grand strategy. Purpose is to increase profits, revenues, market share, or the number of places in which the company does business.
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| show | Type of grand strategy. Purpose is to continue doing what the company has been doing, just doing it better.
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| show | Type of grand strategy. Purpose is to turn around very poor company performance by shrinking the size or scope of the business or, if a company is in multiple businesses, by closing or shutting down different lines of the business.
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| Recovery | show 🗑
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| Industry Level strategy: | show 🗑
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| Character of the Rivalry | show 🗑
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| show | Type of industry level strategy. They determine an industry's overall attractiveness and potential for long term profitability. Include character of rivalry, threat of new entrants, threat of substitute prod/serv, bargaining power of supplier & buyers
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| Threat of new entrants | show 🗑
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| Threat of substitute products or services | show 🗑
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| show | A measure of the influence that suppliers of parts, materials and services to firms in an industry have on the prices of these inputs
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| show | A measure of the influence that customers have on a firm's prices.
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| Cost leadership | show 🗑
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| Differentiation: | show 🗑
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| show | The positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment. Positioning strategy.
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| Defenders | show 🗑
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| Types of Adaptive strategies | show 🗑
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| show | Firms that adopt an adaptive strategy that seeks fast growth by searching for new market opportuities, encouraging risk taking, and being the first to bring innovative new products to market.
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| show | 1) Cost leadership
2) Differentiation
3) Focus
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| show | Firms that adopt an adaptive strategy that seeks to mimize risk and maximize profits by following or imitating the proven successes of prospectors
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| Reactors | show 🗑
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| show | A corporate strategy that addresses the question "How should we compete against a particular firm"
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| Direct Competition | show 🗑
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| Market commonality | show 🗑
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| show | The extent to which a competitor has similar accounts and kinds of resources
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| Strategic moves of direct competition | show 🗑
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| show | A competitive move designed to reduce a rival's market share or profits
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| Response | show 🗑
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Created by:
bargjr