Business Flashcards
Deliberate effort to establish fruitful relationships with exchange partners and stakeholders
Marketing
A method of assessing an organizations products or strategic business units that considers various factors, including competitive position, profitability, growth, and mission importance
Portfolio analysis
Person to have a claim to or Obtain some benefit from an organization
Stakeholders
A long-term, formal, and mutually beneficial relationship between two or more parties to pursue a set of agreed-upon goals or to meet a critical business need while remaining independent organizations
Strategic alliance
Overseeing and directing daily activities in an organization to ensure they support achievement of the organizations mission and vision; responsibilities may include designating organizational structures, policies, and procedures; evaluating budgets and progress towards goals; and coordinating staff training
Strategic management
The organizational characteristics of a market that exert a strategic influence on the intensity and form of competition
Market structure
The percentage of total sales volume in a market captured Buy a brand, product, service, or company
Market share
Wrong doing or improper and dishonest conduct, especially by a person who holds a public office or a position of trust
Malfeasance
Evaluation of an organizations products, assets, operations, and other factors to determine whether the organization is caring out its mission effectively and efficiently
Internal environmental analysis
The acquisition or merger of two or more organizations that produce similar products or services
Horizontal expansion
A measure of market concentration calculated by squaring the market share percentage of each organization in a market and then summing the numbers
Herfindal Hirschman index
Commonly used strategies that combine a target market and a type of differentiation
Generic strategies
Differences in access to or availability of healthcare facilities and services; related but different, health disparities referred to variation in the rates of disease occurrence and disabilities among Socio economic, geographic, social cultural cultural, and sexual or gender identity define population groups
Healthcare disparities
A method of identifying the distance between an organizations current position and it’s desired position with regard to its mission, vision, and values
Gap analysis
A bar chart that lays out the schedules, steps, and time frames of a project or projects
Gantt chart
Four attributes that have traditionally been used to establish an organizations market position, product, price, promotion, and place
Four P’s
Use of data from the past and present to analyze trends and predict the future; also called scenario planning
Forecasting
Perfect competition, monopolistic competition, oligopoly and monopoly; each type reflects the number of organizations in a market and their degree of market influence
Four basic types of market structure
A framework devised by Harvard economist Michael Porter for analyzing the degree of competition in a market and the ability of established organizations to influence prices
Five forces model
Organizations that consistently search for innovation opportunities in attempt to gain competitive advantages by being among the first to enter a new market or industry
First movers
Reductions in unit cost as a result of an increase in number of products or services produced
Economies of scale
Innovation that creates a new market by discovering new categories of customers, eventually displacing the existing market; occurs when new technologies are harnessed or when new Business models exploit old technologies
Disruptive innovation
The act of making untrue statements about another that damages the persons reputation; written defamation is libel, and oral defamation is slander
Defamation
A process for disseminating information to all organizational stakeholders in the event of an emergency
Crisis communication plan
The internal activities and function in Central to filling in organizations missions; tediously valuable, they are the essence of what makes the organization unique and providing value to its customers
Core competencies
A voluntary, deliberate, and legally binding agreement between two or more competent parties; usually written but sometimes spoken or implied
Contract
An activity whereby union and management officials attempt to resolve conflicting interests in a manner that will sustain and possibly enrich their continuing relationships
Collective bargaining
Certificate or approval for new services in for construction or renovation of hospitals are related facilities; issued in many states
Certificate of need
A model of a specific strategy or function that guides design, operations, and goalsetting
Business plan
The underlying structure of an organization; the means through which an organization created delivers value to its customers and earns revenues
Business model
A contracting parties failure or refusal to performance obligations specified in a contract
Breach of contract
A community wide communication effort to convey the mission and the competitive advantage of an organization
Branding
Obstacles that impede an organization as it seeks to enter a market
Barriers to entry
A group of employees recognized by the national labor relations board to be an appropriate body for collective bargaining under the national labor relations act
Bargaining unit
Assimilation of the vertical components of an organization through greater internal control and coordination
Vertical integration
The key internal processes or activities and organization performs to create value for it stakeholders; a framework for analyzing an organization strengths and weaknesses across the flow of product or service development and delivery
Value chain
Intentional damage to someone else’s contractual or business relationships with a third-party, causing economic harm
Tortious interference
A tool for understanding an organizations Strategic situation; examines both in organizations internal environment it strengths and weaknesses and it’s external environment it’s opportunities and threats
SWOT analysis
The cost associated with changing a product, brand, marketplace, or supplier
Switching costs
The set of decisions about mission, ownership, scope of activity, location, and partners that define organization and release it to stakeholder needs
Strategic positioning
A systematic process for envisioning a desired future and translating that vision into broadly defined goals or objectives in a sequence of steps to achieve them
Strategic planning
Opportunities that, when narrowed for use in business plans, involve quantum shifts in service capabilities or market share, usually by interaction with competitors, large scale capital investments, and revisions to several line activities
Strategic opportunities
Four distinct but not wholly predictable stages every product or service goes through introduction to the market; growth in utilization and revenue; maturity, when utilization and revenue stabilize; and decline, when utilization and revenue start to fall and eventually become too little for the product or service to remain viable
Product or service lifecycle
A tool commonly used in project management to clarify the key components of a project and to ensure that the projects definition and desired outcomes coincide with an organization strategic priorities and goals
Project charter
The division of a market into subsets of consumers with similar needs and wants; enables marketers to focus their marketing efforts on consumers most likely to buy a product or use a service
Segmentation
A technique of proposing alternative futures that could come to pass if a specified environmental change occurs semicolon used by liters to better understand and plan for future contingencies
Scenario analysis
Strategic planning budgeting implementing strategy and controlling problems and monitoring progress
Strategic action cycle for stages
