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
