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| plans that organization wide, establish overall objectives, and position an organization in terms of its environment |
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| plans the specify the details of how an organizations overall objectives are to be achieved |
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| plans that cover less than one year |
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| plans that cover more than one year |
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| plans that have clearly defined objectives and leave no room for misinterpretation |
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| flexible plans that set out general guidelines |
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| a plan that is used to meet the needs of a particular or unique situation |
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| a plan that is ongoing and provides guidance for repeatedly performed actions in an organization |
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| management by objectives (MBO) |
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| a system in which specific performance by subordinates and their supervisors, progress toward objectives is periodically reviewed, and rewards are allocated on the basis of that progress |
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| strategic management process |
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| a nine step process that involves strategic planning, implementation, and evaluation |
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| the purpose of an organization |
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| screening large amounts of information to detect emerging trends and create a st of scenarios |
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| accurate information about competitors that allow managers to anticipate competitors actions rather than merely react to them |
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| positive external environment factors |
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| negative external environmental factors |
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| internal resources that are available or things that an organization does well |
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| any of the strengths that represent unique skills or resources that can determine the organizations competitive edge |
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| resources that an organization lacks or activities that it does not do well |
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| analysis of an organizations strengths, weaknesses, opportunities, and threats in order to identify a strategic niche that the organization can exploit |
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| the four primary types of strategies; growth, stability, retrenchment, and combination |
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| a strategy which an organization attempts to increase the level of its operations |
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| occurs when two companies, usually of similar size, combine their resources to form a new company |
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| occurs when a larger company buys a smaller one and incorporates the acquired companys operations into its own |
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| a strategy that is characterized by an absence of significant change |
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| a strategy characteristic of a company that is reducing its size, usually in an environment of decline |
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| the simultaneous pursuit by an organization of two or more of growth, stability, and retrenchment strategies |
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| a strategy to position an organization in such a way that it will have a distinct advantage over its competition; three types are cost leadership, differentiation, and focus strategies |
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| the strategy of an organization follows when it wants to be the lowest cost producer in its industry |
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| the strategy an organization follows when it wants to be unique in its industry within a broad market |
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| the strategy an organization follows when it wants to establish an advantage in a narrow market segment |
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| the search for the best practices among competitors or noncompetitors that lead their superior performance |
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| designed by the international organization for standardization, these standards reflect a process whereby independent auditors attest that a company's factory, laboratory, or office has met quality management standards, |
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| a philosophy and measurement process that attempts to design quality as a product is being made |
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