Chapter 6: Strategic Management Flashcards
Attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.
Strategy Positioning
Focuses on the organization as a whole.
Corporate-Level Strategy
Focuses on individual business units or product/service lines.
Business-Level Strategy
Managers at this level focus in issues aimed at implementing decisions under consideration from Corporate-Level
Business-Level Strategy
Applies to the key functional departments or units within the business units.
Functional-level Strategy
The creation of a unique and valuable position.
Strategy
Strategy which focuses on the question “what business or businesses should we be in?”
Corporate-Level Strategy
Strategy which focuses on the question “how should we compete in this industry?”
Business-Level Strategy
Strategy which focuses on the question “how can business functions support the business-level strategies?”
Functional-Level Strategy
Establishing the mission, visions, and values statements is which step of the strategic-management process?
First
Assessing the current reality is which step of the strategic-management process?
Second
Formulating corporate, business, and functional strategies is which step of the strategic-management process?
Third
Executing the strategies is which step of the strategic-management process?
Fourth
Maintaining strategic control is which step of the strategic-management process?
Fifth
