MGMT Chap 6 terms pt 2

the degree to which two companies have overlapping products, services, or customers in multiple markets

resources that produce value or competitive advantage and have no equivalent substitutes or replacements

a corporate–level strategy that minimizes risk by diversifying investment among various businesses or product lines

firms that adopt an adaptive strategy that seeks fast growth by searching for new market opportunities, encouraging risk taking, and being the first to bring innovative new products to market

a company with a small share of a fast–growing market

resources that are not controlled or possessed by many competing firms

firms that take an adaptive strategy of not following a consistent strategy, but instead reacting to changes in the external environment after they occur

the strategic actions taken after retrenchment to return to a growth strategy

creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures

the extent to which a competitor has similar amount sand kinds of resources

the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, create and sustain competitive advantage, and fulfill a need or solve a problem

a competitive countermove, prompted by a rival’s attack, to defend or improve a company’s market share or profit

a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business

the firms in a strategic group that follow strategies related to but somewhat different from those of the core firms

an assessment of the strengths and weaknesses in an organization’s internal environment and the opportunities and threats in its external environment

a strategy that focuses on improving the way in which the company sells the same products or services to the same customers

a company with a large share of a fast–growing market

a discrepancy between a company’s intended strategy and the strategic actions managers take when implementing that strategy

a group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities

the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage

a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate

a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry

a measure of the ease with which customers can find substitutes for an industry’s products or services

creating or acquiring companies in completely unrelated businesses

resources that allow companies to improve efficiency and effectiveness