Basta Flashcards
Factors affecting managerial decision-making & strategies for competitiveness:
- Uncertainty: Rapid changes in market trends, technology, and customer preferences.
- Complexity: Business environments are interconnected, requiring careful analysis.
- Intra-organizational conflicts: Managers must align internal goals to avoid inefficiencies.
- Strategies: Use data-driven decision-making, adaptability, and continuous learning
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It refers to the combination quality and the strategies of market positioning that could create customer value and patronage.
Core competencies
It refers to the perception of the business environment that needs careful study to make valuable decisions.
Complexity
It refers to the situation when managers and executives are closely working on their respective duties and responsibilities and disregarding other management factors that affect the firm’s environment.
Intra-organizational conflict
It refers to the organizational structure that plans, organize, directs and control the operation of business.
Organizational resources
It refers to the technology and corporate trademarks, copyrights and other trade secrets.
Technological resources
It is the most important asset that the company could depend on for competitive advantage.
Human resources
It is the capacity to bring new ideas and strategies that would be necessary in the change process.
Innovation resource
It refers to the perception that is earned through time about product quality and service and its relationships with other stakeholders.
Reputational resources
It refers to the state of how the firm can exploit opportunities and neutralize threats in the external environment.
Valuable capabilities
It means that the firm’s capabilities are the product complex social phenomenon.
Social complexity
