16-22 Strategy

Question 1

strategy

Answer 1

A plan to achieve long-term business goals.

Question 2

Strategy Success

Answer 2

Achieving the desired outcomes of a business plan.

Question 3

Profitability

Answer 3

The ability to generate more revenue than expenses.

Question 4

Resource Allocation

Answer 4

Distributing resources (e.g., money, people) effectively to achieve goals.

Question 5

Cutthroat

Answer 5

Extremely competitive and ruthless.

Question 6

Ferocious

Answer 6

Intense and aggressive competition

Question 7

Fierce

Answer 7

Strong, determined, and intense competition.

Question 8

Low-Key

Answer 8

Subtle and not drawing much attention.

Question 9

Keen

Answer 9

Highly enthusiastic or competitive.

Question 10

Startups

Answer 10

New, emerging businesses.

Question 11

Subsidiary or Business Unit

Answer 11

A smaller division or company owned by a larger organization.

Question 12

key players

Answer 12

main competitors

Question 13

minor players

Answer 13

smaller competitors

Question 14

Bids

Answer 14

Proposals or offers to win contracts or business.

Question 15

Offerings

Answer 15

Products or services provided to customers.

Question 16

Suppliers

Answer 16

Companies that provide raw materials or products to a business.

Question 17

Technology

Answer 17

Tools and systems used to enhance business processes and offerings.

Question 18

Position

Answer 18

A company’s standing in the market relative to competitors.

Question 19

Pressure

Answer 19

Forces that challenge or influence a business, such as competition or market demands.

Question 20

Prices

Answer 20

The cost at which goods or services are sold.

Question 21

Threat

Answer 21

A potential risk or challenge to the business.

Question 22

Advantage/Edge

Answer 22

A unique strength that gives a company a competitive lead.

Question 23

Porter’s 5 Forces

Answer 23

A framework analyzing the competitive forces affecting an industry (rivalry, supplier power, buyer power, threat of new entrants, threat of substitutes).

Question 24

Core Competences

Answer 24

Unique skills or capabilities that give a company a competitive advantage.

Question 25

cost leadership

Answer 25

Competing by being the lowest-cost producer.

Question 26

Differentiation

Answer 26

Competing by offering unique products or services.

Question 27

Focus

Answer 27

Targeting a specific market niche.

Question 28

Volume Industries

Answer 28

Industries producing large quantities of goods.

Question 29

Manufacturer

Answer 29

A company that makes products.

Question 30

Discerning

Answer 30

Having good judgment, especially in choosing products.

Question 31

Concentrated

Answer 31

A market with few dominant players.

Question 32

Fragmented

Answer 32

A market with many small competitors.

Question 33

Market Share

Answer 33

A company’s portion of total sales in a market.

Question 34

Low Entry Barriers

Answer 34

Few obstacles to entering an industry.

Question 35

Mergers and Acquisitions

Answer 35

Combining companies or purchasing others to grow

Question 36

Acquisitive

Answer 36

Actively seeking to buy other companies.

Question 37

Takeovers

Answer 37

Acquiring control of another company

Question 38

Strategic Acquisitions

Answer 38

Buying companies that align with long-term goals.

Question 39

Vertical Integration

Answer 39

Controlling multiple stages of production or distribution.

Question 40

Unwieldy Conglomerate

Answer 40

A large, complex company that is difficult to manage.

Question 41

Subsidiaries

Answer 41

Companies owned by a larger parent company.

Question 42

Disposed of

Answer 42

Sold or eliminated.

Question 43

Divested

Answer 43

Sold off assets or parts of a business.

Question 44

Non-Core Business:

Answer 44

Activities not central to a company’s main operations.

Question 45

Make or Buy Decision:

Answer 45

Choosing whether to produce in-house or purchase from others.

Question 46

In-House:

Answer 46

Done within the company, not outsourced.

Question 47

Divestment:

Answer 47

Selling off parts of a company.

Question 48

Bureaucratic

Answer 48

Overly complex and slow due to rigid procedures

Question 49

Corporate Venturing

Answer 49

Large companies investing in or creating startups.

Question 50

Intrapreneurship

Answer 50

Employees acting like entrepreneurs within a company

Question 51

Entrepreneurial Activities

Answer 51

Innovating and starting new business ventures

Question 52

Skunk Works

Answer 52

Small, innovative project teams working independently within a company.

Question 53

IBM

Answer 53

A major technology and consulting company.

Question 54

Pioneer (verb):

Answer 54

To lead or be the first to do something.

Question 55

Focus Groups

Answer 55

Small, diverse groups giving feedback on products or ideas

Question 56

First Mover Advantage

Answer 56

Gaining an edge by being the first in the market

Question 57

Shakeout:

Answer 57

The elimination of weaker companies in a competitive market.

Question 58

Consolidation

Answer 58

Merging companies to reduce competition

Question 59

Mature

Answer 59

An industry or market that is fully developed and stable.

Question 60

Venturesome

Answer 60

Willing to take risks

Question 61

Reap

Answer 61

To harvest or gain benefits.

Question 62

Remuneration

Answer 62

Payment or compensation for work.

Question 63

Venture Capital Group

Answer 63

Investors providing funding to startups in exchange for equity.

Question 64

Mould Breaking

Answer 64

Innovative and unconventional.

Question 65

Hampering:

Answer 65

Hindering or obstructing progress.

Question 66

Stifle

Answer 66

Suppress or limit growth and innovation.

Question 67

Scenario Planning:

Answer 67

Preparing for multiple potential future events.

Question 68

Delphi Method

Answer 68

A technique using expert consensus for forecasting.

Question 69

Consensus

Answer 69

General agreement among a group.

Question 70

Risk Management

Answer 70

Identifying and mitigating potential business risks.

Question 71

Nationalization of Assets

Answer 71

Government takeover of private assets

Question 72

Public Relations

Answer 72

Managing a company’s image and communication with the public

Question 73

Business Continuity:

Answer 73

Ensuring operations continue during disruptions.

Question 74

Contingency Plans

Answer 74

backup plans for unexpected events.

Question 75

Customer Orientation

Answer 75

Prioritizing customer needs in business decisions.

Question 76

Customer Focus:

Answer 76

Concentrating efforts on satisfying customers.