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Details Title: 405 Description: Test 2 Total Flash Cards: 14 Created: 11/05/2007 20:55:05	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term competetive advantage Definition operating in successful ways that are difficult to imitate Term strategy Definition a comprehensive plan that sets direction and guides alloction of resources to achive long term objectives Term strategic management Definition the process of formulating and implementing strategies Term organization's mission Definition its reason for existence as a supplier of goods and services to society Term stakeholders Definition those directly affectd by an organization and its accomplishments. employees and members of external environment Term constituent analysis Definition how well a corp serves its stakeholders Term operating objective Definition specific results that organizations try to accomplish ex. proftability, market share, human talent Term SWOT Definition examines organization Strengths and Weaknesses and environmental Opportunities and Threats Term Porter's five forces Definition industry competeitors, new entrants, suppliers, customers, substitutes Term three levels of strategy Definition corporate, business, functional Term opportunities for competetive advantage Definition cost and quality, knowledge and timing, barriers to entry, financial resources Term portfolio planning approach Definition seeks the best mix of investments among alternative business opportunities Term two factors to porter's business level strategic decisions Definition market scope, source of competetive advantage Term four generic strategies that organizations can pursue under Porter Definition diferentiation, cost leadership, focused differentiation, focused cost leadership