Ch.9 Management

  1. competitive advantage
    ability to do something so well that one outperforms competitors
  2. sustainable competitive advantage
    the ability to out perform rivals in ways that are difficult or costly to imitate
  3. strategy
    comprehensive plan to achieve long term organization goals
  4. strategic intent
    focuses and applies organizational energies on a unifying and compelling goal
  5. corporate strategy
    directs the organization as a whole toward sustainable competitive advantage
  6. business strategy
    for a single business unit or product line
  7. functional strategy
    guides the use of organizational resources to implement business strategy
  8. strategic management
    the process of formulating and implementing strategies
  9. strategic analysis
    assess the organization and its current strategies
  10. strategy formulation
    develop new or revised strategies
  11. strategy implementation
    using resources to put strategies into action and then evaluating results
  12. mission
    organization's reason for its existence in society
  13. SWOT analysis
    examines organizational strengths and weaknesses and environmental opportunities and threats
  14. monopoly conditions
    having NO rival to compete w/for resources or customers
  15. oligopoly
    facing few competitors
  16. hypercompetition
    facing several direct competitors
  17. bankruptcy
    under U.S law protects a firm from creditors while management reorganizes to restore solvency
  18. liquidation
    where a business closes and sells its assets to pay creditors
  19. downsizing
    decreases the size of operations, often through reducing workforce
  20. rightsizing
    downsizing with a clear, strategic focus
Card Set
Ch.9 Management