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STRAMA > CHAPTER 4 > Flashcards

CHAPTER 4 Flashcards

1
Q

degree of complexity plus the degree of charges that exist in the organization’s external environment.

A

ENVIRONMENTAL UNCERTAINTY

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2
Q

monitoring, evaluation and dissemination of info from external and internal to the key people with in the organization

A

ENVIRONMENTAL SCANNING

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3
Q

includes physical resources wildlife and climate that are inherent part of existence on earth

A

NATURAL ENVIRONMENT

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4
Q

is mankind’s social system that includes general forces that do not di-
rectly touch on the short-run activities of the organization that can, and often do, influence its
long-run decisions.

A

SOCIETAL ENVIRONMENT

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5
Q

that regulate the exchange of materials, money, energy, and information.

A

ECONOMIC FORCES

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6
Q

that generate problem-solving inventions.

A

Technological forces

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7
Q

allocate power and provide constraining and protecting laws
and regulations.

A

Political–legal forces

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8
Q

that regulate the values, mores, and customs of society.

A

Sociocultural forces

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9
Q

includes those elements or groups that directly affect a corporation and,
in turn, are affected by it.

A

TASK ENVIRONMENT

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10
Q

(popularized by Michael Porter) refers to an in-depth examination of key
factors within a corporation’s task environment.

A

INDUSTRY ANALYSIS

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11
Q

side effect of pollution

A

EXTERNALITIES

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12
Q

greenhouse gases

A

CARBON FOOTPRINT

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13
Q

PESTEL ANALYSIS
TRENDS FROM NATURAL ENVIRONMENT SCANNING

A

STEEP ANALYSIS

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14
Q

Combining the computing power of the personal computer, the networking of the Internet,

A

Portable information devices and electronic networking:

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15
Q

The use of wind, geothermal, hydroelectric, solar, biomass,
and other alternative energy sources should increase considerably.

A

Alternative energy sources:

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16
Q

The computerized management of crops to suit variations in land
characteristics will make farming more efficient and sustainable.

A

Precision farming

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17
Q

Very smart computer programs that monitor e-mail, faxes,
and phone calls will be able to take over routine tasks, such as writing a letter, retrieving a file, making a phone call, or screening requests.

A

Virtual personal assistants:

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18
Q

A convergence of biotechnology and agriculture is cre-
ating a new field of life sciences.

A

Genetically altered organisms

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19
Q

Robot development has been limited by a lack of sensory devices.
and sophisticated artificial intelligence systems.

A

Smart, mobile robots

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20
Q

willingness to reject unfamiliar and negative info

A

strategic myopia

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21
Q

key environmental trends that are judge to have a both a meduim to high prabability

A

CORPORATION EXTERNAL STRATEGIC FACTORS

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22
Q

strategic factors

A

HIGH PRIORITY

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23
Q

trend/ merely scannned

A

LOW PRIORITY

24
Q

arounds of firms and producersa aimilar product or service.

A

INDUSTRY

25
Q

to an industry typically bring to it new capacity, a desire to gain market share,
and substantial resources.

A

New entrants

26
Q

Scale economies in the production and sale of microprocessors, for
example, gave Intel a significant cost advantage over any new rival.

A

Economies of scale

27
Q

Corporations such as Procter & Gamble and General Mills,
which manufacture products such as Tide and Cheerios, create high entry barriers through
their high levels of advertising and promotion.

A

Product differentiation

28
Q

The need to invest huge financial resources in manufacturing facilities in order to produce large commercial airplanes creates a significant barrier to entry to any competitor for Boeing and Airbus.

A

Capital requirements

29
Q

Once a software program such as Excel or Word becomes established in
an office, office managers are very reluctant to switch to a new program because of the
high training costs.

A

Switching costs

30
Q

Once a software program such as Excel or Word becomes established in
an office, office managers are very reluctant to switch to a new program because of the
high training costs.

A

Switching costs

31
Q

Small entrepreneurs often have difficulty obtaining su-
permarket shelf space for their goods because large retailers charge for space on their shelves and give priority to the established firms who can pay for the advertising needed.
to generate high customer demand.

A

Access to distribution channels

32
Q

is a product that appears to be different but can satisfy the same need as
another product.

A

substitute product

33
Q

ability to force down price

A

Bargaining Power of Buyers

34
Q

is a com-pany (e.g., Microsoft) or an industry whose product works well with a firm’s (e.g., Intel’s)
product and without which the product would lose much of its value.51

A

complementor

35
Q

where no firm has large market share, and each
firm serves only a small piece of the total market in competition with others

A

fragmented industry

36
Q

Enter maturity products tend to become more like commodities

A

consolidated industry

37
Q

operate worldwide,

A

Global industries

38
Q

primarily coordinate their activities within regions, such

A

regional industries

39
Q

is a set of business units or firms that pursue similar strategies with simi-
lar resources

A

strategic group

40
Q

is a category of firms based on a common strategic orientation and a combination of structure,
culture, and processes consistent with that strategy.

A

strategic type

41
Q

are companies with a limited product line that focus on improving the effi-
ciency of their existing operations.

A

Defenders

42
Q

are companies with fairly broad product lines that focus on product innova-
tion and market opportunities.

A

Prospectors

43
Q

are corporations that operate in at least two different product-market areas,
one stable and one variable.

A

Analyzers

44
Q

are corporations that lack a consistent strategy-structure-culture relationship.

A

Reactors

45
Q

They
are becoming more complex and more dynamic.

A

HYPERCOMPETITION

46
Q

summarizes the key success factors within a particular industry.

A

industry matrix

47
Q

are vari-
ables that can significantly affect the overall competitive positions of companies within any
particular industry.

A

Key success factors

48
Q

is a formal program of gathering information on a company’s
competitors.

A

Competitive intelligence

49
Q

is the extension of present trends into the future.

A

extrapolation

50
Q

non-quantitative approach that requires simply the presence of
people with some knowledge

A

Brainstorming

51
Q

is a nonquantitative technique in which
experts in a particular area attempt to forecast likely developments.

A

Expert opinion

52
Q

in which separated experts independently assess the likelihoods of specified events.

A

Delphi technique

53
Q

is a quantitative technique that attempts to discover causal or at

least explanatory factors that link two or more time series together.

A

Statistical modeling

54
Q

is a recent forecasting technique enabled by easy access to the Inter-
net.

A

Prediction markets

55
Q

is the most widely used forecasting technique after trend extrapolation.

A

Scenario writing

56
Q

is a forecasted description of a particular industry’s likely future.

A

industry scenario

57
Q

ais one way to organize the external factors into the
generally accepted categories of opportunities and threats

A

an EFAS (Ex-
ternal Factors Analysis Summary) Table

STRAMA (2 decks)

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