a comprehensive plan for accomplishing an organization's goals
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.
- Industry attractiveness
- Competitive position (strength) of each firm in the portfolio.
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