3.1.1 Corporate objectives, 3.1.2 Theories of corporate strategy Flashcards
1
Q
aims
A
a generalised statement of where a business is heading
2
Q
mission
A
an aim expressed in a particularly inspiring way
3
Q
mission statement
A
a short passage of text that sums up an organisation’s mission
4
Q
Distinctive capabilities
A
ways a firm operates that cannot easily be copied by rivals
5
Q
Generic strategy
A
an strategic position that will prove effective in every market. Porter said lowest cost and highest differentiation were the perfect positions of strength
6
Q
Product differentiation
A
the extent to which customers perceive one product as being distinct from its rivals
7
Q
Stock units
A
the number of different different brands and pack sizes stocked by a company
