The flashcards below were created by user
akoskey
on FreezingBlue Flashcards.
-
strategic management
what managers do to develop an organizations stratagies
-
strategies
plans for how an organization will do what it's in business to do, how it will compete successfully, and how it will attract and satisfy its customers in order to achieve its goals
-
business model
a design for how a company is going to make money
-
resources
an organizations assets that are ued ot develop, manufacture, and deliver products to its customers
-
capabilities
an organizations skills and abilities in doing the activiities needed in its business
-
swot analysis
analysis of an organizations strengths and weaknesses (internal) and opportunities and threats (external)
-
core competencies
the organizations major value-creating capabilities that determine its competitive weapons
-
corporate strategy
grow, remain stable, renew; specifies what businesses a company is or wants to be and what it wants to do with those businesses
-
growth strategy
an organization wants to expand the market or products through current or new business; concentration, vertical intergration (own supplier), horizontal intergration (buy out), diversification, auisition, merger
-
stability strategy
corporate strategy in which an organization continues to do what it is doing
-
renewal strategy
corporate strategy designed to address declining performance
-
competetive strategy (bissines/generic)
an organizational strategy for how an organization will compete in business; cost leader, differentiation, niche
-
organizational strategies
corporate, competitive/business/generic, functional
-
functional strategies
organizational strategy used by organizations various functional departments (strategic bussiness units) to support organizations competetive strategy; marketing, operational, human resources, information technology
-
first mover advantage
an organzation that is first to bring a product innovation to market or to use a new process innovation
-
innovation strategies
shaped by innovation emphasis and inovation timing and focus on process development
|
|