Term
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Definition
| Ability to do something so well that one outperforms competitors |
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Term
| Sustainable Competitive Advantage |
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Definition
| The ability to uotperform rivals in ways that are difficult or costly to imitate |
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Term
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Definition
| Comprehensive plan guiding resource allocation to achieve long-term organization goals |
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Definition
| Focuses and applies organizational energies on a unifying and compeling goal |
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Term
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Definition
| Sets long-term direction for the total enterprise |
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Definition
| Identifies how a division or strategic business unit willl compete in its product or service domain |
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Term
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Definition
| guides activitis within one specific area of operation |
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Term
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Definition
| Process of formulating and implementating strategies |
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Term
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Definition
| Process of analyzing the organization, the environment, and the organization's competitive position and currennt strategies |
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Term
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Definition
| Process of crafting strategies to guide the allocation of resources |
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Term
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Definition
| Process of puttting strategies into action |
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Term
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Definition
| Expresses the organizations reason for existance in society |
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Term
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Definition
| Individuals and groups directly affected by the organization and its strategic accomplishments |
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Term
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Definition
| Broad beliefs about what is or is not appropriate behavior |
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Term
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Definition
| Predominant value system for the organization as a whole |
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Term
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Definition
| Specific results that organizations wish to accomplish |
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Term
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Definition
| Analyze business opportunities ccording to market growth and market share |
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Term
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Definition
| Expansion of the organizations current operations |
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Term
| Growth through Concentration |
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Definition
| Growth within the same business area |
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Term
| Growth Through Diversification |
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Definition
| Acquisition of or investment in new and different business area |
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Term
| Growth through vertical integration |
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Definition
| occurs by acquiring suppliers or distributors |
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Term
| Retrenchment and Restructuring Strategies |
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Definition
| Pursue radical changes to solve problems |
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Term
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Definition
| U.s> Law protects a firm from creditors while management reorganizes to restore solvency |
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Term
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Definition
| Business closes and sells its assets to pay creditors |
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Term
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Definition
| Decrease the size of operations |
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Term
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Definition
| Sell off parts of the organization to refocus attention on core business areas |
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Term
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Definition
| Tries to fix specific problems |
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Term
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Definition
| Adopts standardized products and advertising for use worldwide |
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Term
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Definition
| Customizes products and advertising to best fit local needs |
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Term
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Definition
| Seeks efficiencies of global operations with attention to local markets |
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Term
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Definition
| Organizations join in partnership to pursue an area of mutual interest |
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Term
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Definition
| Strategy of working with rivals on projects of mutual benefit |
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Term
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Definition
| Offers products that are uniquie and different from the competition |
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Term
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Definition
| Seeks to operate with low cost so that products can be sold at low prices |
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Term
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Definition
| Concentrates on serving a unique market segment better than anyone else |
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Term
| Focus Differentiation Strategy |
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Definition
| Offers a unique product to a special market segment |
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Term
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Definition
| Strategy seeks the lowest costs of operations within a special market segment |
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Term
| Lack of Participation Error |
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Definition
| Failure to include key persons in strategic planning |
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Term
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Definition
| System of control and performance monitoring of top management |
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Term
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Definition
| Makes sure stratigies are well implemented and that poor stratagies are scrapped or modified |
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Term
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Definition
| Inspires people to continously change, refine, and improve strategies and their implementation |
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