/
Quizlet Set
Save to my account
Sign up
Quizlet Set
Flashcard Deck
Study
1
Question
strategy
Answer
a set of goal-oriented actions a firm takes to gain and sustain better performance over competitors
2
Question
strategy managment
Answer
combines analysis, formulation, and implementation in finding competitive advantage
3
Question
mastery= view organization as a whole
Answer
4
Question
competitive parity
Answer
two or more firms perform at the same level
5
Question
strategic positioning
Answer
position in industry that allows firms to provide value to customers, while controlling costs
6
Question
mission
Answer
reason for existence, what an organization does
7
Question
vision
Answer
statement of some desired future state
8
Question
values
Answer
a statement of key values that an organization is committed to
9
Question
AFI framework
Answer
Analysis: vision, mission, values
10
Question
Formulation: corporate, business, or functional strategy
Answer
11
Question
Implementation: structure, culture, control-- corporate governance and business ethics
Answer
12
Question
purpose of AFI
Answer
-predicts differences in firm performance
13
Question
-create and implement a strategy
Answer
14
Question
top-down strategic planning
Answer
top management attempts to program future success
15
Question
black swan events
Answer
highly unlikely, but large impact events
16
Question
emergent strategy
Answer
unplanned strategy from the bottom of the organization. adapting the strategy/original plan to changing market conditions. EX: nyquil
17
Question
realized strategy
Answer
combination of intended and emergent strategy
18
Question
PESTEL Framework Factors
Answer
Political, economical, sociocultural, technological, ecological, legal
19
Question
political PESTEL
Answer
PR, litigation, lobbying
20
Question
economical PESTEL
Answer
growth rates, interest rates, levels on unemployment, price stability, and exchange rates
21
Question
sociocultural PESTEL
Answer
demographics, cultural norms
22
Question
ex: rise in electric vehicals
Answer
23
Question
technological PESTEL
Answer
product and process innovations- application of knowledge
24
Question
ecological PESTEL
Answer
the environment decides the state of usable materials
25
Question
legal PESTEL
Answer
laws, court decisions, mandates
26
Question
porter's five forces factors
Answer
risk of entry, competitive rivalry, buyer power, supplier power, substitutes
27
Question
five forces key assumptions
Answer
-from the point of view of existing firms in the industry
28
Question
-snapshot in time
Answer
29
Question
-stronger each force is, the more limits
Answer
30
Question
risk of entry - five forces
Answer
-economies of scale