SM CH7 Word Scramble
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Question | Answer |
mention 5 long terms objectives | profitability, productivity, competitive position, employee relations/development, technological leadership |
mention the 3 generic strategies | low cost leadership, differentiation, focus |
2 risk of low cost leadership | imitation, technological changes, proximity to differentiation is lost |
2 risk of differentiation | imitation, differentiation becomes less important to customers, cost proximity is lost |
2 risk of focus | target segment becomes unattractive, focus strategy is imitated |
mentions at least 10 grand stategies | concentrated growth, market development, product development, innovation, horizontal integration, vertical integration, concentric diversification, conglomerate diversification, turnaround, divestiture, liquidation, bankrupcy, join ventures, str allnce |
Characteristics of a Concentrated Growth Strategy | Involves focusing resources on the profitable growth of a single product, in a single market, with a single dominant technology |
Characteristics of Market development | Consists of marketing present products, often with only cosmetic modifications, to customers in related market areas by Adding channels of distribution or Changing content of advertising or promotion |
Characteristics of Product development | Involves substantial modification of existing products or creation of new but related products |
Characteristics of Innovation Strategy | Involves creating a new product life cycle, thereby making similar existing products obsolete |
Characteristics of Strategies of Horizontal integration | Based on growth via acquisition of one or more similar firms operating at the same stage of the production-marketing chain |
Characteristics of Strategies of Vertical Integration | Involves acquiring firms To supply acquiring firm with inputs - backward integration or Are customers for firm’s outputs - forward integration |
Characteristics of Concentric diversification | Involves acquisition of businesses related to acquiring firm in terms of technology, markets, or products |
Characteristics of Conglomerate diversification | Involves acquisition of a business because it represents a promising investment opportunity Primary motivation is profit pattern of venture |
Characteristics of Turnaround Strategy | Involves a concerted effort over a period of time to fortify a firm’s distinctive competencies, returning it to profitability |
Characteristics of Divestiture strategy | Involves selling a firm or a major component of a firm |
Characteristics of Liquidation strategy | Involves selling parts of a firm, usually for its tangible asset value and not as a going concern |
Characteristics of Strategy of Bankruptcy | liquidation Involves complete distribution of a firm’s assets to creditors, Reorganization - Involves creditors temporarily freezing their claims while a firm reorganizes |
Characteristics of Joint venture | Involves establishing a third company (child), operated for the benefit of the co-owners (parents) |
Characteristics of Strategic alliance | Involves creating a partnership between two or more companies that contribute skills and expertise to a cooperative project |
What is a balance scoreboard? | Is a measure on how well the company is doing with its strategy, it measure, finance performance, business processes, customer knowledge, learn and growth |
Mention 3 reasons for outsourcing? | focus in business main competence, free resources, use the best capabilities of other companies. |
Created by:
jnartig
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