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Details
Title: Chapter 2
Description: Strategic Management
Total Flash Cards: 11
Created: 03/28/2011 18:43:56
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Additional Business Flashcards
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Cards in this set:
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| describes the route a company intends to take in developing and strengthening its business. It lays out the company's strategic course in preparing for the future. |
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| identifies boundaries of a company's current business and says something about present products/services, types of customers served, and geographic coverage. |
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| the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company's business and pursuing its strategic vision and strategy |
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| an organization's performance targets - the results and outcomes management wants to achieve. They function as yeardsticks for measuring how well the organization is doing. |
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| outcomes focused on improving financial performance |
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| Outcomes focused on improving competitive strength and market standing |
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| measuring company performance is optimal; it entails setting financial and strategic objectives and placing balanced emphasis on achieving both types of objectives |
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| when a company pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective |
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| lays out its future direction, performance targets, and strategy |
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| Managing By Walking Around (MBWA) |
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| one of the techniques that effective leaders use to stay on top of how well things are going and to learn what issues they need to address |
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