a comprehensive plan for accomplishing an organization's goals Show a comprehensive and ongoing management process aimed at formulating and implementing effective strategies; a way of approaching business opportunities and challenges a strategy that
promotes a superior alignment between the organization and its environment and the achievement of strategic goals an organizational strength possessed by only small number of completing firms when applied to strategy, it specifies the range of markets in which an organization will compete how an organization distributes its resources across the areas in which it competes the set of strategic alternatives from which an organization chooses as it conducts business in a particular industry or market the set of strategic alternatives from which an organization chooses as it manages it operations simultaneously across several industries and several markets the set of processes involved in creating or determining the strategies of the organization; it focuses on the content of strategies methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved a plan of action that an organization chooses and implements to support specific goals a pattern of action that develops over time in an organization in the absence of mission and goals or despite mission and goals an acronym that stands for strengths, weaknesses, opportunities, and threats a skill or capability that enables and organization to created an implement its strategies a skill or capability held by numerous competing firms duplicating another orgs distinctive competence and thereby implementing a valuable strategy sustained competitive advantage a competitive advantage that exists after all attempts at strategic imitation have ceased Organizational Weaknesses skills and capabilities that do not enable an org. to choose and implement strategies that support its mission. a situation in which an organization is not implementing valuable strategies that are being implemented by competing organizations Organizational Opportunity Area in the enviroment that, if exploited, may generate higher performance An area in the environment that increases the difficulty of an organization's achieving high performance a strategy in which a organization seeks to distinguish itself from competitors through the quality of its products or services Overall cost leadership strategy a strategy in which an organization attemps to gain a competitive advantage by reducing its costs below the cost of competing firms a strategy in which an organization concentrates on a specific regional market, product line, or group of buyers a strategy in which the firm encourages creativity and flexibility and is often decentralized a strategy in which the firm focuses on lowering costs and improving the performance of current products a strategy in which the firm attempts to maintain its current businesses and to be somewhat innovative in new businesses a strategy in which a firm has no consistent approach to strategy a model that portrays how sales volume for products changes over the life of products number of different businesses that an organization is engaged in and the extent to which these businesses are related to on another strategy in which an organization manufactures just one service and sells it in a single geographic market a strategy in which an organization operates in several businesses that are somehow linked with one another unrelated diversification a strategy in which an organization operates multiple businesses that are not logically associated with one another backward vertical integration an organization's beginning the business activities formerly conducted by its suppliers forward vertical inegration an organization's beginning the business activities formerly conducted by its customers the purchase of one firm by another firm of approximately the same size the purchase of a firm by a firm that is considerably larger portfolio management technique a method of determining which businesses to engage in and how to manage these businesses to maximize corporate performance method of evaluating businesses relative to the growth rate of their market and the organization's share of the market A method of evaluating businesses in a diversified portfolio along two dimensions, each of which contains multiple factors.
home replication strategy international strategy in which a company uses the core competency of firm-specific advantage it developed at home as its main competitive weapon in the foreign markets that it enters international strategy in which a company manages itself as a collection of relatively independent operating subsidiaries, each of which focuses on a specific domestic market international strategy in which a company views the world
as a single marketplace and has its primary goal the creation of standardized goods and services that will address the needs of customers worldwide international strategy in which a company attempts to combine the benefits of global scale inefficiencies with the benefits and advantages of local responsiveness When applied to strategy it specifies the range of markets in which an organization will complete?scope of a strategy specifies the range of markets in which the organization will compete. resource deployment is how a company will distribute its resources across various areas. distinctive competence is something the organization does extremely well.
Where do we compete in strategic management?To identify where to compete, you need to answer the following questions: What geographic markets should you be in? Who is your target customer? What products will you sell, and how will you source them?
What is the process of creating or determining the organization's strategies?Strategic planning is a process in which an organization's leaders define their vision for the future and identify their organization's goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.
What is true about strategic goals of an organization?Strategic goals are important because they: Drive priority setting, resource allocation, capability requirements and budgeting activities. Inform individual and team objectives used to focus and align the efforts of all employees. Inform the marketing, operations, IT and human resources plans for the coming years.
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When applied to strategy it specifies the range of markets in which an organization will compete?
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