MGMT CHAP 6 Terms

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ndumas2
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140643
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MGMT CHAP 6 Terms
Updated:
2012-03-09 01:42:42
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MGMT
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Terms from chapter 6
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  1. the purchase of a company by another company
    acquisition
  2. firms that adopt an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors
    analyzers
  3. a competitive move designed to reduce a rival’s market share or profits
    attack
  4. a measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs Bargaining power of buyers
    Bargaining power of suppliers
  5. a portfolio strategy, developed by the Boston Consulting Group, that categorizes a corporation’s businesses by growth rate and relative market share and helps managers decide how to invest corporate funds
    BCG matrix
  6. a company with a large share of a slow–growing market
    Cash cow
  7. a measure of the intensity of competitive behavior between companies in an industry
    Character of the rivalry
  8. providing greater value for customers than competitors can
    Competitive advantage
  9. a reluctance to change strategies or competitive practices that have been successful in the past
    Competitive inertia
  10. the internal decision–making routines, problem–solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs
    Core capabilities
  11. the central companies in a strategic group
    Core firms
  12. the overall organizational strategy that addresses the question “What business or businesses are we in or should we be in?”
    Corporate–level strategy
  13. the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can, so that the firm can offer the product or service at the lowest price in the industry
    Cost leadership
  14. firms that adopt an adaptive strategy aimed at defending strategic positions by seeking moderate, steady growth and by offering a limited range of high–quality products and services to a well–defined set of customers
    defenders
  15. the positioning strategy of providing a product or service that is sufficiently different from competitors’ offerings that customers are willing to pay a premium price for it
    differentiation
  16. the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and react to each other’ strategic actions
    Direct competition
  17. what a company can make, do, or perform better than its competitors
    Distinctive competence
  18. a strategy for reducing risk by owning a variety of items (stocks or, in the case of a corporation, types of businesses) so that the failure of one stock or one business does not doom the entire portfolio
    diversification
  19. a company with a small share of a slow–growing market
    dog
  20. a corporate strategy that addresses the question “How should we compete against a particular firm?”
    Firm–level strategy
  21. 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
    Focus strategy
  22. a broad corporate–level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use
    Grand strategy
  23. a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business
    Growth strategy
  24. resources that are impossible or extremely costly or difficult for other firms to duplicate
    Imperfectly imitable resources
  25. a corporate strategy that addresses the question “How should we compete in this industry?”
    Industry–level strategy

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