Term
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Definition
| the determination of an enterprise's basic long-term goals and objectives, the adoption of courses of action, and the allocation of resources necessary for carrying out these goals |
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Term
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Definition
| a broad plan of action for pursuing and achieving the firm's objectives and satisfying its mission |
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Term
| strategic business unit (SBU) |
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Definition
| a product/service division of a company that establishes goals and objectives in harmony with the organization's overall mission |
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Term
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Definition
| a strategic business unit that has high market share in a high-growth market |
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Term
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Definition
| a strategic business unit with a high market share in a low-growth market |
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Term
| SBU (acronym for, four characteristcs, list) |
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Definition
strategic business units;
1) has a distinct mission; 2) it has its own competitors; 3) it is a single business/collection of...; 4) it can be planned for independently of the other business of the total organization |
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Term
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Definition
| a strategic business unit that has low market share in a high-growth market |
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Term
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Definition
| a strategic business unit that has low market share in a low-growth market |
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Term
| SBU (acronym for, classifications, list) |
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Definition
strategic business unit;
1) star; 2) cash cow; 3) question mark; 4) cash trap; |
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Term
| SBU (acronym for, alternative strategies, list) |
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Definition
strategic business unit;
1) build; 2) hold; 3) harvest; 4) divest; |
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Term
| build (SBU strategy, def.) |
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Definition
| of an sbu that "has potential" to be a star, to build up the sbu, forgoing short-term profits if necessary |
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Term
| hold (SBU strategy, def.) |
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Definition
| of an sbu that is a successful cash cow, to hold/preserve the market share so organization can take advantage of positive cash flow |
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Term
| harvest (SBU strategy, def.) |
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Definition
| of all sbu's except stars, focuses on increasing the short-term cash return w/o concern for long-term impact. |
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Term
| divest (SBU strategy, def.) |
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Definition
| of sbu's with low shares of low-growth markets, to get rid of |
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Term
| SBU (alternative strategies matrix) |
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Definition
Build --> Star | ?? <-- Build/Harvest
Hold/Harvest --> Cash Cow | Cash Trap <-- Harvest/Divest |
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Term
| five competitive forces (def.) |
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Definition
| a view held by Harvard Business School economist Michael Porter that in any industry the nature of competition is embodied in five competitive forces |
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Term
| five competitive forces (list) |
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Definition
| 1) threat of new entrants; 2) threat of substitute products/services; 3) bargaining power of suppliers; 4) bargaining power of buyers; 5) rivalry among existing competitors; |
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Term
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Definition
| all the activities an organization undertakes to create value for a customer |
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Term
| value chain (3 broad categories, list) |
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Definition
| primary activities, support activities, margin |
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Term
| primary activities (of a value chain, list) |
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Definition
| in-bound logistics; operations (manuf.); out-bound logistics; marketing & sales; after-sale service; |
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Term
| support activities (of a value chain, list) |
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Definition
| firm infrastructure (e.g., finance, planning); human resource management; technology development; procurement; |
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Term
| margin (of a value chain, def.) |
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Definition
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Term
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Definition
| the process of determining desired objectives or benchmarks and of developing ways to reach them. "What do we want the future to be? What must we do now to better ensure that the desired future is achieved?" |
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Term
| strategic plan (outline, list) |
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Definition
| 1) mission; 2) objectives; 3) strategies; 4) portfolio plan; 5) 1-4 --> operational plans |
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Term
| operational plans (from strategic plan, categories, list) |
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Definition
| 1) production plan; 2) marketing plan; 3) personnel plan; 4) financial plan; 5) facilities plan; |
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Term
| operational plans (from strategic plan, details of sub-categories, list) |
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Definition
| objectives, forecast, budgets, strategies and programs, policies; |
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Term
| strategic planning process |
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Definition
| strategic thinking --> circle: set operating strategies, assess environment, establish mission, establish goals |
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Term
| SWOT analysis (acronym for, def.) |
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Definition
| The process of examining a firm's internal and external environments for important Strengths, Weaknesses, Opportunities, and Threats |
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Term
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Definition
| anything that has the potential to increase the firm's strength |
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Term
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Definition
| anything that has the potential to hurt or even destroy a firm |
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Term
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Definition
| a technique used by mgmt whereby info about events & trends in an organization's external environmenet are used in planning the organization's future courses of action |
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Term
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Definition
| a technique used by many firms in which one person is assigned leadership on a single issue and is responsible for strategic decisions on that issue |
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Term
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Definition
| the relative worth of a company's products/services as discerned by its customers |
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Term
| driving forces that revolutionize business/world markets (list 1-10) |
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Definition
| 1) speed; 2) convenience; 3) demographics/age waves; 4) lifestyles; 5) choices; 6) discounting; 7) value adding; 8) customer service; 9) technology; 10) quality |
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Term
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Definition
| a statement of the firm's long-term vision of what the firm is trying to become, which differenetiates this firm from other firms. The mission provides direction and a sense of purpose to all employees |
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Term
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Definition
| within an organization, stories tell of experiences and events that transpired where the story-teller works. stories legitmate power, rationalize group behavior, and reinforce organizational values, identity, and commitment |
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Term
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Definition
| a capacity that's unique to the firm and that's valued in the market |
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Term
| mission statement (characteristics of, list) |
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Definition
| 1) customer-focused; 2) achievable; 3) motivational; 4) specific; |
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Term
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Definition
| a broad plan of action for pursuing and achieving a firm's goals and satisfying its mission |
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Term
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Definition
| a firm offers a high-priced product equipped with the greatest number of product-enhancing features, and sells the product to a relatively small group ... aka premium strategy. |
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Term
| competitive strategy models (list) |
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Definition
| differentiation strategy, cost-leadership strategy, niche strategy |
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Term
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Definition
| a strategy of low price, high volume, and low profit margins on each item. With this strategy, a cost leader attempts to attract a large number of customers with low prices, generating a large overall profit by sheer volume of units sold |
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Term
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Definition
| a strategy that applies the premium strategy to a restricted market (usually a geographic region) |
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Term
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Definition
| that which occurs among employees who have experienced too many mgmt initiatives (e.g., TQM, re-engineering, CTR, etc) in too short a time |
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Term
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Definition
| end users of the firm's products and services |
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Term
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Definition
| those who own a firm's stock |
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Term
| total quality environmental management |
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Definition
| a CI approach to a company's environmental mgmt practices. It involves forming alliances with other organizations for the purpose of working together to solve common problems. |
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