ch 10 final Flashcards

1
Q

strategic management process

A

-mission/purpose
-external analysis
-internal analysis
-formulate strategy
-implement strategy
-evaluate strategy

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2
Q

levels of strategy

A

corporate
business (consumer product unit, digital media unit, financial services unit)
functional (R+D, manufacturing, marketing, HR, finance)

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3
Q

corporate level

A

growth, stability, renewal

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4
Q

growth strategy

A

expanding the numbers of products offered or markets served through current or new business

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5
Q

types of growth strategies

A

concentration
vertical + horizontal integration
diversification

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6
Q

concentration

A

concentrates on a primary line of business and increasing the number of products offered or markets served

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7
Q

vertical integration

A

gaining control of inputs or distribution - backward and forward integration

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8
Q

horizontal integration

A

company grows by combining (merge or buy) other firms in the same industry

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9
Q

diversification

A

related - company grows by combining with firms in different but related industries
unrelated - when a company grows by combining with firms in different and unrelated industries

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10
Q

stability

A

absence of significant change in what the org is currently doing

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11
Q

renewal

A

a strategy designed to address org weaknesses that are leading to performance declines

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12
Q

renewal strategies

A

retrenchment - short run renewal strat
turnaround - cost reductions, layoffs, closing underperforming units closing entire product lines/services

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13
Q

BCG Matrix

A

considers market share and industry growth rates

cash cows - low growth rate, high market share
stars - HGR, HMS
question marks -HGR, LMS
dogs - LGR, LMS

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14
Q

business level strategies

A

cost leadership
differentiation
focus

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15
Q
A
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