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IT 371
Chapter 2
19
Business
Undergraduate 3
04/13/2011

Additional Business Flashcards

 


 

Cards

Term
Triple Bottom Line
Definition
A business strategy that includes social, economic, and environmental critera
Term
Operations and Supply Chain Strategy
Definition
Setting Broad policies and plans for using the resources of a firm to best support the firm's long-term competitive strategy
Term
Straddling
Definition
occurs when a firm seeks to match what a competitor is doing by adding new features, services, or technologies to existing activities. This often creates problems if certain trade-offs need to be made
Term
Order winner
Definition
A dimension that differentiates the products or services of one firm from those of another
Term
Order qualifier
Definition
a dimension used to screen a product or service as a candidate for purchase
Term
Activity-system maps
Definition
A diagram that shows how a company's strategy is delivered through a set of supporting activities
Term
Core capabilities
Definition
Skills that differentiate a manufacturing or service firm from its competitors
Term
Productivity
Definition
A measure of how well resources are used
Term
Shareholders
Definition
those individuals or companies that legally own one or more shares of stock in the company
Term
Stakeholders
Definition
those individuals or organizations who are influenced, either directly or indirectly
Term
Social
Definition
pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts is business
Term
Economic
Definition
the firm’s obligation to compensate shareholders who provide capital via competitive returns on investment
Term
Environmental
Definition
the firm’s impact on the environment
Term
Operations Effectiveness
Definition
relates to the core business processes needed to run the business
Term
Yearly
Definition
Develop/refine the strategy
Term
Quarterly
Definition
Translate the strategy
Term
Monthly
Definition
Plan operations and supply
Term
Partial measure
Definition
output/labor, output/capital, output/materials, output/energy
Term
Multifactor Measure
Definition
Output/(labor+capital+energy), output/(labor+capital+materials)
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