Mana test 2

  1. Strategy
    An action managers take to attain a goal of an organization
  2. Competitive Advantage
    Advantage obtained when a firm outperforms its rivals.
  3. Distinctive Competency
    A unique strength that rivals lack
  4. Sustainable competitive advantage
    a distinctive competency that rivals cannot easily match or imitate
  5. barrier to imitation
    factors that make it difficult for a firm to imitate the competitve position of a rival
  6. legacy constraints
    prior investments in a particular way of doing business that are difficult to change and limit a firm's ability to imitate a successful rival
  7. business level strategy
    strategy concerned with deciding how a firm should compete in the industries in which it has elected to participate
  8. low-cost strategy
    focusing managerial energy and attention on doing everything possible to lower the costs of the organization
  9. economies of scale
    cost advantages derived from a large sales volume
  10. differentiation strategy
    increasing the value of a product offering in the eyes of consumers.
  11. focus strategy
    serving a limited number of segments
  12. broad market strategy
    serving the entire market
  13. value innovation
    using innovation to offer more value at a lower cost than competitors
  14. primary activities
    activities having to do with the design, creation, and delivery of the product; its marketing; and its support and after-sale service.
  15. support activities
    activities that provide inputs that allow the primary activities to occur
  16. competitive tactics
    actions that managers take to try to outmaneuver ricals in the market
  17. corporate-level strategy
    strategy concerned with deciding which industries a firm should compete in and how the firm should enter or exit industries
  18. vertical integration
    moving upstream into businesses that supply inputs to a firm's core business or downstream into businesses that use the outputs of the firm's core business.
  19. diversification
    entry into new business areas
  20. related diversification
    diversification into a business related to the existing business activities of an enterprise by distinct similarities in one or more activities in the value chain.
  21. unrelated diversification
    diversification into a business not related to existing business activities of an enterprise by distinct similarities in one or more activities in the value chain.
  22. economies of scope
    cost reductions associated with sharing resources across businesses
  23. internal governance skills
    the ability of snior managers to elicit high levels of performance from the constituent businesses of a diversified enterprise
  24. control
    the process through which managers regulate the activities of individuals and units
  25. standard
    a performance requirement that the orgainzation is meant to attain on an ongoing basis.
  26. subgoal
    an objective that, if achieved, helps an orgainzation attain or exceed its major goals.
  27. personal control
    making sure through personal inspection and direct supervision that individuals and units behave in a way that is consistent with the goals of an organization
  28. bureucratic control
    control through a formal system of writtin rules and procedures
  29. output controls
    setting goals for units or individuals to achieve and monitoring performance against those goals
  30. performace ambiguity
    a situation that occurs when the link between cause and effect is ambiguous
  31. cultural control
    regulating behavior by socializing employees so that they internalize the values and assumptions of an organization and act in a manner that in consistent with them
  32. self-control
    occurs when employees regulate their own behavior so that it is congruent with organizational goals.
  33. incentives
    devices used to encourage and reward appropriate employee behavior
  34. peer control
    occurs when employees pressure others within their team or work group to perform up to or in excess of the expectations of the organization
  35. market control
    regulating the behavior of individuals and units within an enterprise by setting up an internal market for some valuable resource such as capital.
  36. the balanced scrorecard
    a control approach that suggests managers use several different financial and operational metrics to track performance and control an organization
  37. backchannel
    an informal channel through which managers can collect important information
  38. organizational culture
    the values and assumptions shared within an organization
  39. artifacts
    the observable symbols and signs of an organization's culture
  40. rituals
    the programmed routines of daily organizational life that dramatize the organization's culture
  41. ceremonies
    planned activities conducted specifically for the benefit of an audience.
  42. adaptive culture
    an organizational culture in which employees focus on the changing needs of customers and other stakholders and support initiatives to keep pace with these changes.
  43. organizational socialization
    the process by which individuals learn the values, expected behaviors, and social knowledge necessry to assume their roles in an organization
  44. bicultural audit
    the practice of diagnosing cultural relations between companies and determining the extent to which cultural clashes will likely occur.
Card Set
Mana test 2