Term
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Definition
The search for the best practices among competitors or noncompetitors
that lead to their superior performance |
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Term
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Definition
| An organization’s skills and abilities in doing the work activities needed in its business |
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Definition
| The idea that plans should extend far enough to meet those commitments made when the plans were developed |
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Term
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Definition
| What sets and organization apart; its distinctive edge |
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Term
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Definition
A type of environmental scanning that gives managers accurate
information about competitors |
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Term
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Definition
An organizational strategy for how an organization will compete in
its business(es). |
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Term
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Definition
| The major value-creating capabilities of an organization |
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Term
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Definition
An organizational strategy that specifies what business a company is
in or wants to be in, and what it wants to do with those businesses. |
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Term
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Definition
When an organization competes on the basis of having the
lowest costs in its industry. |
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Term
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Definition
When an organization competes on the basis of having unique
products that are widely valued by customers (e.g. Apple’s iPad, Samsung’s Galaxy S III) |
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Term
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Definition
An analysis of the external environment, which involves
screening large amounts of information to detect emerging trends. |
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Term
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Definition
| When an organization competes in a narrow segment or niche with either a cost focus or a differentiation focus. |
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Term
| Formal Planning Department |
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Definition
: A group of planning specialists whose sole responsibility is
to help write the various organizational plans. |
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Term
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Definition
Strategy used in an organization’s various functional departments to
support the competitive strategy |
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Term
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Definition
A corporate strategy in which an organization expands the number of
markets served or products offered, either through its current business(es) or through
new business(es). |
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Term
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Definition
| Plans with a time frame beyond 3 years |
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Term
| MBO Management By Objectives |
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Definition
A process of setting mutually agreed-upon goals and
using those goals to evaluate employee performance. |
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Term
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Definition
An integrated network of goals in which higher-level goals are linked
to lower-level goals, which serve as the means for their accomplishment. |
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Term
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Definition
Positive trends in the external environment. (see Strategic Management
Process -> SWOT Analysis in Other Notes) |
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Term
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Definition
A corporate strategy that addresses declining organizational
performance |
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Term
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Definition
An organization’s assets that it uses to develop, manufacture, and deliver
products to its customers. |
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Term
| SBU Strategic business units |
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Definition
An organization’s single businesses that are independent
and formulate their own competitive strategies. |
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Term
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Definition
: Official statements of what an organization says -and wants its
stakeholders to believe- its goals are. |
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Term
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Definition
Those goals an organization actually pursues as shown by what the
organization’s members are doing. |
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