Business

Question 1

Deliberate effort to establish fruitful relationships with exchange partners and stakeholders

Answer 1

Marketing

Question 2

A method of assessing an organizations products or strategic business units that considers various factors, including competitive position, profitability, growth, and mission importance

Answer 2

Portfolio analysis

Question 3

Person to have a claim to or Obtain some benefit from an organization

Answer 3

Stakeholders

Question 4

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

Answer 4

Strategic alliance

Question 5

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

Answer 5

Strategic management

Question 6

The organizational characteristics of a market that exert a strategic influence on the intensity and form of competition

Answer 6

Market structure

Question 7

The percentage of total sales volume in a market captured Buy a brand, product, service, or company

Answer 7

Market share

Question 8

Wrong doing or improper and dishonest conduct, especially by a person who holds a public office or a position of trust

Answer 8

Malfeasance

Question 9

Evaluation of an organizations products, assets, operations, and other factors to determine whether the organization is caring out its mission effectively and efficiently

Answer 9

Internal environmental analysis

Question 10

The acquisition or merger of two or more organizations that produce similar products or services

Answer 10

Horizontal expansion

Question 11

A measure of market concentration calculated by squaring the market share percentage of each organization in a market and then summing the numbers

Answer 11

Herfindal Hirschman index

Question 12

Commonly used strategies that combine a target market and a type of differentiation

Answer 12

Generic strategies

Question 13

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

Answer 13

Healthcare disparities

Question 14

A method of identifying the distance between an organizations current position and it’s desired position with regard to its mission, vision, and values

Answer 14

Gap analysis

Question 15

A bar chart that lays out the schedules, steps, and time frames of a project or projects

Answer 15

Gantt chart

Question 16

Four attributes that have traditionally been used to establish an organizations market position, product, price, promotion, and place

Answer 16

Four P’s

Question 17

Use of data from the past and present to analyze trends and predict the future; also called scenario planning

Answer 17

Forecasting

Question 18

Perfect competition, monopolistic competition, oligopoly and monopoly; each type reflects the number of organizations in a market and their degree of market influence

Answer 18

Four basic types of market structure

Question 19

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

Answer 19

Five forces model

Question 20

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

Answer 20

First movers

Question 21

Reductions in unit cost as a result of an increase in number of products or services produced

Answer 21

Economies of scale

Question 22

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

Answer 22

Disruptive innovation

Question 23

The act of making untrue statements about another that damages the persons reputation; written defamation is libel, and oral defamation is slander

Answer 23

Defamation

Question 24

A process for disseminating information to all organizational stakeholders in the event of an emergency

Answer 24

Crisis communication plan

Question 25

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

Answer 25

Core competencies

Question 26

A voluntary, deliberate, and legally binding agreement between two or more competent parties; usually written but sometimes spoken or implied

Answer 26

Contract

Question 27

An activity whereby union and management officials attempt to resolve conflicting interests in a manner that will sustain and possibly enrich their continuing relationships

Answer 27

Collective bargaining

Question 28

Certificate or approval for new services in for construction or renovation of hospitals are related facilities; issued in many states

Answer 28

Certificate of need

Question 29

A model of a specific strategy or function that guides design, operations, and goalsetting

Answer 29

Business plan

Question 30

The underlying structure of an organization; the means through which an organization created delivers value to its customers and earns revenues

Answer 30

Business model

Question 31

A contracting parties failure or refusal to performance obligations specified in a contract

Answer 31

Breach of contract

Question 32

A community wide communication effort to convey the mission and the competitive advantage of an organization

Answer 32

Branding

Question 33

Obstacles that impede an organization as it seeks to enter a market

Answer 33

Barriers to entry

Question 34

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

Answer 34

Bargaining unit

Question 35

Assimilation of the vertical components of an organization through greater internal control and coordination

Answer 35

Vertical integration

Question 36

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

Answer 36

Value chain

Question 37

Intentional damage to someone else’s contractual or business relationships with a third-party, causing economic harm

Answer 37

Tortious interference

Question 38

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

Answer 38

SWOT analysis

Question 39

The cost associated with changing a product, brand, marketplace, or supplier

Answer 39

Switching costs

Question 40

The set of decisions about mission, ownership, scope of activity, location, and partners that define organization and release it to stakeholder needs

Answer 40

Strategic positioning

Question 41

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

Answer 41

Strategic planning

Question 42

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

Answer 42

Strategic opportunities

Question 43

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

Answer 43

Product or service lifecycle

Question 44

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

Answer 44

Project charter

Question 45

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

Answer 45

Segmentation

Question 46

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

Answer 46

Scenario analysis

Question 47

Strategic planning budgeting implementing strategy and controlling problems and monitoring progress

Answer 47

Strategic action cycle for stages