International Business Chapter 12

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  1. International Strategy
    The way firms make the choices about acquiring and using scarce resources in order to achieve their international objectives
  2. Competitive advantage
    The ability of a company to have higher rates of profits than its competitors
  3. competencies
    skills or abilities required in order to adequately complete a task
  4. strategic planning
    the process by which an organization determines where it is going in the future, how it will get there, and how it will assess whether and to what extent it has achieved its goals
  5. value chain analysis
    an assessment conducted on the chain of interlinked activities of an organization or set of interconnected organizations, intended to determine where and to what extent value is added to the final product or service
  6. knowledge management
    the practices that organizations and their managers use for the identification, creation acquisition, development, dispersion, and exploitation of competitively valuable knowledge
  7. tacit knowledge
    knowledge that an individual has but that is difficult to express clearly in words, pictures, or formulae, and therefore difficult to transmit to others
  8. explicit knowledge
    knowledge that is easy to communicate to otehrs via words, pictures, formulae, or other means
  9. mission statement
    a broad statement that defines the organization's purpose and scope
  10. vision statement
    a description of the company's desired future position if it can acquire the necessary competencies and successfully implement its strategy
  11. Values statement
    a clear and concise description of the fundamental values, beliefs, and priorities of the company's members
  12. competitive strategies
    action plans to enable organizations to reach their objectives
  13. scenarios
    multiple, plausible stories about the future
  14. contingency plans
    plans for the best or worst case scenarios or for critical events that could have a severe impact on the firm
  15. sales forecast
    a prediction of future sales performance
  16. budget
    an itemized projection of revenues and expenses for a future time period
  17. policies
    broad guidelines intended to assist lower level personnel in handling recurring issues or problems
  18. procedures
    specified ways of performing a particular task or activity
  19. top- down planning
    planning process that bigins at the highest level in the organization and continues downward
  20. bottom up planning
    planning process that begins at the lowest level in the organization and continues upward
  21. iterative planning
    repition of the bottom up or top down planning process until all differences are reconciled
  22. industrial espionage
    act of spying on a competitor to learn secrets about its strategy and operations
  23. competitor analysis
    process in which principal competitors are identified and their objectives, strengths, weaknesses, and product lines are assessed
  24. competitor intelligence system (CIS)
    procedure for gathering, analyzing, and disseminating information about a firm's competitors
  25. benchmarking
    a technique for measuring a firm's performance against the performance of others that may be in the same or a completely different industry
Card Set:
International Business Chapter 12
2012-04-12 04:45:38
International Business

International Competitive Strategy
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