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| an organization that operates and competes in more than one country |
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| the set of global forces and conditions that operate beyond an organization's boundaries but affect a manager's ability to acquire and utilize resources |
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| the set of forces and conditions that originate with suppliers, distributors, customers, and competitors and affect an organization's ability to obtain inputs and dispose of its outputs because they influence managers on a daily basis |
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| the wide-ranging global, economic, technological, sociocultural, demographic, political, and legal forces that affect an organization and its task environment |
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| individuals and organizations that provide an organization with the input resources that it needs to produce goods and services |
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| the purchase of inputs from overseas suppliers or the production of inputs abroad to lower production costs and improve product quality or design |
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| organizations that help other organizations sell their goods or services to customers |
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| individuals and groups that buy the goods and services that an organization produces |
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| organizations that produce goods and services that are similar to a particular organization's goods and services |
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| organizations that presently are not in a task environment but could enter if they so choose |
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| factors that make it difficult and costly for an organization to enter a particular task environment or industry |
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| cost advantages associated with large operations |
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| customers' preference for the products of organizations currently existing in the task environment |
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| interest rates, inflation, unemployment, economic growth, and other factors that affect the general health and well-being of a nation or the regional economy of an organization |
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| the combination of skills and equipment that managers use in the design, production, and distribution of goods and services |
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| outcomes of changes in the technology that managers use to design, produce, or distribute goods and services |
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| pressures emanating from the social structure of a country or society or from the national culture |
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| the arrangement of relationships between individuals and groups in a society |
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| the set of values that a society considers important and the norms of behavior that are approved or sanctioned in that society |
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| outcomes of changes in, or changing attitudes toward, the characteristics of a population, such as age, gender, ethnic, origin, race, sexual orientation, and social class |
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| Political and Legal Forces |
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| outcomes of changes in laws and regulations, such as the deregulation of industries, the privatization of organizations, and the increased emphasis on environmental protection |
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| the set of specific and general forces that work together to integrate and connect economic, political, and social systems across countries, cultures, or geographical regions so that nations become increasingly interdependent and similar |
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| a tax that a government imposes on imported or, occasionally, exported goods |
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| the idea that if each country specializes in the production of the goods and services that it can produce most efficiently, this will make the best use of global resources |
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| ideas about what a society believes to be good, right, desirable, or beautiful |
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| unwritten, informal codes of conduct that prescribe how people should act in particular situations and are considered important by most members of a group or organization |
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| the routine social conventions of everyday life |
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| norms that are considered to be central to the functioning of society and to social life |
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| a worldview that values individual freedom and self-expression and adherence to the principle that people should be judged by their individual achievements rather than by their social background |
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| a worldview that values subordination of the individual to the goals of the group and adherence to the principle that people should be judged by their contribution to the group |
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| the degree to which societies accept the idea that inequalities in the power and well-being of their citizens are due to differences in individuals' physical and intellectual capabilities and heritage |
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| a worldview that values assertiveness, performance, success, and competition |
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| a worldview that values the quality of life, warm personal friendships, and services and care for the weak |
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| the degree to which societies are willing to tolerate uncertainty and risk |
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| a worldview that values thrift and persistence in achieving goals |
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| a worldview that values personal stability or happiness and living for the present |
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| identifying and selecting appropriate goals and courses of action; one of the four principal tasks of management |
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| a cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals |
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| a broad declaration of an organization's purpose that identifies the organization's products and customers and distinguishes the organization from its competitors |
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| top management's decisions pertaining to the organization's mission, overall strategy, and structure |
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| a plan that indicates in which industries and national markets an organization intends to compete |
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| divisional managers' decisions pertaining to divisions' long-term goals, overall strategy, and structure |
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| a plan that indicates how a division intends to compete against its rivals in an industry |
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| functional managers' decisions pertaining to the goals that they propose to pursue to help the division attain its business-level goals |
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| Functional-Level Strategy |
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| a plan of action to improve the ability of each of an organization's functions to perform its task-specific activities in ways that add value to an organization's goods and services |
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| the intended duration of a plan |
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| the ability of the CEO and top managers to convey a compelling vision of what they want the organization to achieve to their subordinates |
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| the development of a set of corporate-, business-, and functional-level strategies that allow an organization to accomplish its mission and achieve its goals |
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| a planning exercise in which managers identify organizational strengths (S) and weaknesses (W) and environmental opportunities (O) and threats (T) |
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| permanent, ongoing, intense competition brought about in an industry by advancing technology or changing customer tastes |
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| driving the organization's cost down below the costs of its rivals |
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| distinguishing an organization's products from the products of competitors on dimensions such as product design, quality, or after-sales service |
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| Focused Low-Cost Strategy |
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| serving only one segment of the overall market and trying to be the lowest-cost organization serving that segment |
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| Focused Differentiation Straegy |
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| serving only one segment of the overall market and trying to be the most differentiated organization serving that segment |
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| Concentration on a Single Industry |
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| reinvesting a company's profits to strengthen its competitive position in its current industry |
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| expanding a company's operations either backward into an industry that produces inputs for its products or forward into an industry that uses, distributes, or sells its products |
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| expanding a company's business operations into a new industry in order to produce new kinds of valuable goods or services |
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| entering a new business or industry to create a competitive advantage in one or more of an organization's existing divisions or businesses |
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| performance gains that result when individuals and departments coordinate their actions |
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| Unrelated Diversification |
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| entering a new industry or buying a company in a new industry that is not related in any way to an organization's current businesses or industries |
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| selling the same standardized product and using the same basic marketing approach in each national market |
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| customizing products and marketing strategies to specific national conditions |
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| making products at home and selling them abroad |
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| selling products at home that are made abroad |
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| allowing a foreign organization to take charge of manufacturing and distributing a product in its country or world region in return for a negotiated fee |
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| selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits |
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| an agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture |
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| a strategic alliance among two or more companies that agree to jointly establish and share the ownership of a new business |
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| Wholly Owned Foreign Subsidary |
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| production operations established in a foreign country independent of any local direct involvement |
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