Term
| diagnostic Reasoning Skills |
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Definition
| Being able to leap to accurate Conclusions without having complete information. |
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Term
| Diagnostic Reasoning Steps |
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Definition
Obtain and Filter Information
Formulate an initial small hypothesis
Obtain additional information to support hypothesis
Use a reasoning strategy |
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Term
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Definition
| (General to specific) taking a set of facts and using that information to develop more facts that you know are true. |
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Term
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Definition
| (Specific to General) is looking for a trend or patterns than generalizing. |
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Definition
| Why an organization offers the services they offer. |
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Term
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Definition
| Means by which it sets out to achieve its desired ends. |
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Term
| Four Fundamental Characteristics of business Strategy. |
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Definition
Level of investment strategy
The product market to compete
Assets and competencies
Functional area Strategies and Programs |
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Definition
Represents attractive market opportunity
Resources and desire to serve that market better than competitors
Well coordinated execution |
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Term
| First leg of strategy formulation |
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Definition
External Analysis
Competitor Dynamics
Industry Analysis
Industry analysis |
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Term
| Features of external Analysis |
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Definition
Competitor Dynamics
Industry Analysis
Industry Evolution |
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Term
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Definition
Internal Analysis
Competitive Positioning
General Strategies
BUilding Competitive Advantage
Sustaining Competitive Advantage
Vertical Integration
Diversification |
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Term
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Definition
Implementation
Incentives/other control systems
Organizational structure |
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Term
| Levels of Investment Strategy |
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Definition
Invest To Grow
Invest to Maintain
Milk the business by minimizing investment
Recover as many of the assets as possible by liquidating or divesting the business. |
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Term
| Product Market to Compete |
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Definition
Business Defined by what it offers and does not offer
Markets it seeks to serve and not serve
Competitors it chooses
Level of vertical integration |
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Definition
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Term
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Definition
| What a business does exceptionally well |
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Term
| Strategic Leadership Traits |
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Definition
Actively listen to and value feedback
Be selective about the ideas you present
Be proactive and not reactive
Challenge traditional thinking and the status quo |
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Term
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Definition
| Differentiation, Low cost, innovation |
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Term
| Strategic Management EXTERNAL ANALYSIS |
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Definition
Customer Analysis
Competitor Analysis
Market/Submarket Analysis
Environment Analysis |
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Term
| Strategic Analysis Internal Analysis |
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Definition
Performance analysis
Determinants of strategic options |
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Term
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Definition
Size, growth, profitability
Strength and weaknesses
Exit Barriers
Cost structure
Objectives and Commitment
Current and past strategies
Organization and Culture
Cost structure. |
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Term
| DIMENSION OF MARKET ANALYSIS |
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Definition
Emerging Submarkets
Actual and potential market and submarket size
Market and Submarket growth
Market and submarket profitability
Cost Structure
Distribution Systems
Trends and Developments
key success factors |
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Term
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Definition
Select product category or subcategory
Determine brands to reconsider |
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Term
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Definition
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Term
| Detecting Maturity and Decline |
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Definition
Price pressure caused by overcapacity and lack of product differentiation
Buyer sophistication and knowledge
Substitute products or technologies
Saturation
No growth sources
Customer disnterest |
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Definition
Technology trends
Government/Economic Trends |
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Term
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Definition
| What are the current or emerging trends in lifestyles, fashion and culture. What demographic trends will affect the market size of the industry or submarkets |
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Term
| Transformational Innovations |
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Definition
| Changes what people buy - changes in the assets and competencies needed. |
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Definition
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Definition
| Makes the offering more attractive or less costly. |
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Term
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Definition
| Structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. |
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Definition
| Those features of the business which allow you to operate more effectively than your competitors. |
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Term
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Definition
| Areas capable of improvement |
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Term
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Definition
| Interesting trends which you can take advantage of |
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Term
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Definition
| Internal or external (considered to be external in class); anything that can inversely affect your business. |
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Term
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Definition
Age
Gender
Household income
Race
Marital status
Households total population in zip codes
Home values
Crime rates |
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Term
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Definition
State of the economy
Who are your competitors
What services do they offer
What are their strengths and weaknesses
How can you differentiate |
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Term
| Primary benefit of Strategic Planning |
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Definition
| Something to measure; follow, guide |
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Term
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Definition
| Helps to understand and quantify the gaps that exist between the ideal future state and present state of a business. By analyzing these gaps, management can create specific action plans to move the organization toward its goals. |
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Term
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Definition
| Sustainable Competitive advantage |
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Term
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Definition
The way you compete
Basis of competition
What you offer
Where you compete |
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Term
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Definition
Two or more businesses in combination will generate
INCREASED Customer value/Loyalty
Lower Operating Costs
Overcoming Organizational Issues |
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Term
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Definition
Assumes that the current strategy will work in the future
Tunnel vision
Buy-in throughout the organization
Improve the offering, the costs, the customer relationships
Patience |
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Term
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Definition
Assumes a fast changing market and you cannot predict the future so the best strategy is to be sensitive to current opportunities and exploit them
Short term oriented
Decentralized, entrepreneurial, risk-taking |
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Term
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Definition
Assumes a changing market and that the organization can predict and manage responses to those changes
A medium term perspective
Organization is flexible supports investments behind terms
(Large companies, risk averse) |
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Term
| Global Strategy Motivations |
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Definition
(OGAASDA)
Obtaining Scale Economies
Global Brand Associations
Access Low Cost materials and Labor
Access National Investment incentives
Cross subsidization
Dodge Trade Barriers
Access Strategically Important markets
Obtaining Scale Economies |
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Term
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Definition
Leverage great branding and Marketing
Economies of Scale
Easier to manage brands
Easy to replicate |
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Term
| Standardization not always optimal in Global Market |
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Definition
Market Share Positions
Government Contexts
Brand Images
customer Motivations and responses vary
Distribution channels
Local Heritage/Culture |
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Term
| Success of Global Strategy (Global Footprint) |
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Definition
A strong core
Repeatable formula
Customer differentiation that travels
Industry economics |
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Term
| Global Strategic Alliances |
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Definition
Generate Scale Economies
Gain Access to strategic Markets
Overcome trade barriers
Gain access to a needed technology
Use excess capacity
Gain access to low cost manufacturing capabilities
Access a name or customer relationship
Redice the investment required. |
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Term
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Definition
Identifies; objectives for the evaluation
Types of information to be collected
Manner in which the information |
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