Term
_______ is not a key dimension of strategic farsightedness |
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Definition
| viewing labor as a commoditiy |
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Term
There is a trend away from the _______ mode and toward the _______ mode in strategy making. |
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Definition
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Term
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Definition
strategic planning + implementation + control
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Term
What does the term synergy refer to? |
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Definition
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Term
Which of the according to Porter, is the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sales service? |
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Definition
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Term
The seven basic Internet business models include all except which one of these? |
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Definition
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Term
One of four key lessons that managers have learned about Internet strategy is that when doing business on the Internet, it is especially important to ensure that e-business partnering does not dilute |
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Definition
strategic control and ethical standards
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Term
_______ serves as the focal point for the entire planning process. |
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Definition
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Term
The "W" in a SWOT analysis stands for |
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Definition
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Term
_______ analysis has been called "no surprise" strategic planning. |
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Definition
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Term
| what are the key dimensions of strategic farsightedness? |
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Definition
- Organizational strategy
- competitive advantage
- organizational structure
- research and development
- return
- human resources
- problem solving
- mgmt style
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Term
| 3 reasons for understanding strategic mgmt |
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Definition
- encourages farsightedness
- think in strategic terms then you better understand top mgmt decisions
- trending away from command, symbolic, and rational modes towards transactive and generative modes
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Term
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Definition
- command,-imperial, commander, soldier
- symbolic- cultural, coach, player
- rational- analytical, boss, subordinate
- transactive- procedural, facilitator, participant
- generative- organic, sponsor, entreprenuer
Mode- style, role of mgmt, and role of organization |
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Term
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Definition
| the ongoing process of ensuring a competitively superior fit between an organization and its changing environment |
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Term
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Definition
| an integrated perception of how the organization should achieve its mission |
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Term
| What does strategic mgmt include? |
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Definition
- includes budget control, long range planning, and strategic planning
- merges strategic planning, implementation, and control to create dynamic process
- requires holistic view from a long term perspecitve
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Term
| 4 alternative perspectives for thinking innovatively about strategy |
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Definition
- synergies
- porters generic strategies
- business ecosystems
- internet and social media strategies
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Term
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Definition
| occurs when 2 or more variable interact to produce an effect greater than the sum of the effects independently |
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Term
| What is the 1+1=3 effect? |
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Definition
| the whole is greater than the sum of its parts |
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Term
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Definition
| when one product or service fortifies the sales of one or more other products or services |
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Term
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Definition
| occurs when 2 or more porducts can be designed by the same engineers, produced in the same facility, distributed thru same channels, or sold by the same sales people, overall costs decrease |
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Term
| What is technology synergy? |
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Definition
| transferring tech from one app to another, thus opening new markets |
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Term
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Definition
| occurs when mgmt team is more productive because its members have complementary and not identical skills |
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Term
| Porter's 4 Generic Strategies |
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Definition
- cost leadership
- differentiation
- cost focus
- focused differentiation
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Term
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Definition
having the lowest overall cost in a market to provide a competitive advantage in pricing over competitors
Walmart |
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Term
| What is differentiation strategy? |
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Definition
providing unique and superior value for a customer that builds brand loyalty
apple, harley davidson |
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Term
| what is cost focus strategy? |
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Definition
attempting to gain a competitive edge in a narrow market by controlling the segment
southwest airlines, bags fly free |
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Term
| what is focused differentiation? |
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Definition
achieving the competitive edge by delivering a superior product and/or service to a limited audience
tesla |
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Term
| what is differentiation?or the term "sticky"? |
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Definition
| the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after sales service |
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Term
| What two aspects are involved in the competitors advantage? |
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Definition
- lower cost
- differentiation
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Term
| what two aspects are involved in the competitive scope? |
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Definition
- broad target
- narrow target
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Term
| What is a business ecosystem? |
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Definition
| an economic community of organizations and of all their stakeholders, suppliers, and customers |
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Term
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Definition
- commission based
- advertising based
- markup based
- production based
- referral based
- subscription based
- fee for service based
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Term
| what is the one size fits all internet strategy? |
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Definition
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Term
| 4 crtieria websites need to satisfy |
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Definition
- high quality layout and graphics
- fast, responsive service
- complete and up to date information
- high ranking on search engines
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Term
| what is the second generation web tool? |
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Definition
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Term
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Definition
| blogging, social networking, video and photo sharing sites....represents user generated info....strategies used are a work in progress |
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Term
| Steps in the strategic mgmt process |
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Definition
- formulation of grand strategy
- formulation of strategic plans
- implementation of strategic plans
- strategic control
- corrective action based on evals and feedback
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Term
| what is a grand strategy? |
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Definition
| a general explanation of how the organizations mission is to be accomplished |
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Term
| What is situational analysis? |
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Definition
| finding the organizations niche by performing a SWOT analysis to match unfolding opportunities with resources being acquired |
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Term
| What does SWOT stand for? |
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Definition
Strengths, weaknesses, (internal)
opportunities, threats (external) |
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Term
| What is the capability profile? |
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Definition
| after mgmt scans external opportunities and threats, it then turns inward to identify the organizations strengths and weaknesses |
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Term
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Definition
| radicallys redisgning the entire business cycle for greater strategic speed |
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Term
| Steps to formulate strategic plans |
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Definition
- develop objectives
- identify activities required to accomplish goals
- assign responsibilities to personnel
- estimate times for activities and sequencing
- determine resources required
- communicate and coordinate above elements and complete action plan
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Term
| What is implementation of strategic action plans? |
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Definition
| developing a systematic flitering down process that builds middle manager commitment and must consider people, culture, and control systems |
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Term
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Definition
| detect and correct downstream problems in order to keep strategies updated and on target |
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Term
| what is corrective action based on? |
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Definition
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Term
4 critical organizational factors that strategic plans target
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Definition
- organizational structure
- people
- culture
- control systems
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Term
| What can foster middle mgmt? |
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Definition
| participative mgmt, and effective leadership |
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Term
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Definition
| predictions, projections, or estimates of the future |
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Term
| What are the types of forecasts? |
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Definition
- event outcome-predictions of outcome/effects on future events like the election
- event timing- predictions of when an event will occur like the stock market
- time series- estimates on future values in a statistical sequence like sales forcasts for black friday or cyber monday
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Term
| What are the 4 forcasting techniques? |
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Definition
- Informed judgement
- scenario analysis
- surveys
- trend analysis
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Term
| What is informed judement? |
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Definition
| forecasts relying on intuitive judgements based on how well informed the forecaster is |
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Term
| What is scenario analysis? |
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Definition
| preparing written descriptions of alternative but likely situations |
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Term
| 2 types of scenario analysis |
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Definition
- longitudinal- how the future evolves from the present
- cross sectional- describe future situations at a given time
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Term
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Definition
| face to face interviews and mail or email questionnaires |
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Term
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Definition
| hypothetical extension of past events into the future |
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Term
| What are the likely candidates for scenario analysis? |
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Definition
| products, industry, markets, and catastrophic events |
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Term
| What is the key to good scenario writing? |
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Definition
| to focus on identifiable unpredicatble factors that will have the greatest impact on the topic in question |
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