Term
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Definition
business plan for a specific industry or product.
Ex: PepsiCo and the strategy for Pepsi/Lays |
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Term
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Definition
business plan on a corporate level, managing several industries and markets.
Ex: PepsiCo & Lays
1 business plan as a whole.
2 plans individually. |
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Term
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Definition
something a company does really well that makes them stand out.
Ex: good service, high quality |
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Term
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Definition
the range of a market
or
the range of business activities, one product or several |
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Term
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Definition
Exploit: Strengths and Weaknesses
Eliminate: Threats
Hide/Minimize: Weaknesses |
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Term
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Definition
established industries that are similar
Ex: fast food |
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Term
| sustained competitive advantage |
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Definition
maintating your competitive advantage. Staying ahead of other competition.
-Hard to do |
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Term
| Porter's generic strategies for business level strategy |
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Definition
differentiation: distinguishing characteristics
cost leadership: lower $ than competitors
focus: on a specific market, product line, or group of buyers. |
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Term
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Definition
defender
analyzer
reactor
prospector |
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Term
Miles Snow Typology
Defender |
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Definition
protects consumer market
stable growth
current customers
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Term
Miles/Snow Typology
Analyzer |
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Definition
maintains current market
current customers satisfation
moderate innovation |
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Term
Miles/Snow Typology
Reactor |
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Definition
no clear stategy
reacts to changes
drifts with events |
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Term
Miles/Snow Typology
Prospector |
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Definition
innovative and growth oriented
searches for new markets
new growth
risk taking |
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Term
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Definition
| working as a group is more productive than working as individuals |
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Term
| diversification as a corporate level strategy |
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Definition
Forward verticle: cut out the middle man, and sell to the customers customers.
backward verticle: stop buying from other companies and do that service yourself.
Ex: soda co starts bottling company |
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Term
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Definition
stars
question marks
cash cows
dogs |
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Term
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Definition
routine and regular, details are worked out
Ex: class regestration |
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Term
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Definition
| ustructured and occurs less often than a programmed decision |
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Term
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Definition
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Term
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Definition
| knowing the other alternatives and thier payoffs |
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Term
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Definition
| not knowing the alternatives |
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Term
classical model of decision making
=>
perspective model |
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Definition
ideal conditions
rationality |
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Term
| administrative model of decision making |
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Definition
based on behavioral processes that affect how managers make decisions.
- incomplete and imperfect info.
- constrained by bounded rationality
- tend to satisfice |
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Term
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Definition
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Term
| entreprenuers role in society |
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Definition
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Term
| entreprenuers importance to large businesses |
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Definition
| small businesses are the large businesses best customers |
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Term
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Definition
| a part of the market that is under served |
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Term
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Definition
| first to get in on something and get established; ususally means success |
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Term
| buying an existing business |
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Definition
already have a customer base
established repuatation
know what youre getting |
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Term
| starting a business from scratch |
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Definition
freedom
long hours
no steady income
risk |
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Term
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Definition
usually personal funds
loans
govnt |
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Term
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Definition
contractual
costs to get in
customers already set
advertising |
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Term
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Definition
+more productive
+fewer workers
-boring
-low moral |
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Term
| alternatives to job specialization |
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Definition
job rotation
job enrichment
job enlargement |
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Term
| jobs characteristics approach |
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Definition
skill varaiety
task identitiy
task significance
atonomy |
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Term
| functional departmentalization |
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Definition
grouping by function
ex: accounting
HR
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Term
| product departmentalization |
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Definition
| by product life cycle, growth, mature, design etc. |
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Term
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Definition
clear and unbroken line of authority all the way to the top
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Term
tall / flat organizations
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Definition
Tall: cost more, decision making is slower, less span of control
flat: managers have more people, desision making is faster, communication is better, |
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Term
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Definition
| how many answer/report to a manager |
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Term
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Definition
| retaing power and authority in the hands of higher level managers |
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Term
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Definition
| systematically delegating power and authority throughout an organization |
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