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Organizational Management > Chapter 7 > Flashcards

Chapter 7 Flashcards

1
Q

is a comprehensive plan guiding resource allocation to achieve long-term organization goals

A

strategy

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2
Q

focuses organization al energies on achieving a compelling goal

A

strategic intent

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3
Q

is an ability to outperform rivals

A

competitive advantage

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4
Q

is achieved in ways that are difficult to imitate

A

sustainable competitive advantage

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5
Q

sets long-term direction for the total enterprise

A

corporate strategy

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6
Q

identifies how a division or strategic business unit will compete in its product or service domain

A

business strategy

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7
Q

guides activities within one specific area of operations

A

functional strategy

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8
Q

involves expansion of the organization’s current operations

A

growth strategy

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9
Q

growth by expansion within a existing business area

A

concentration

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10
Q

growth by expansion by entering related or new business areas

A

diversification

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11
Q

growth by acquiring suppliers or distributors

A

vertical integration

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12
Q

changes in operations to correct weaknesses

A

retrenchment strategy

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13
Q

occurs when a business closes and sells it’s assets to pay creditors

A

liquidation

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14
Q

reduces the scale or mix of operations

A

restructuring

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15
Q

protects an insolvent firm from creditors during a period of reorganization for restore profitability

A

Chapter 11 bankruptcy

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16
Q

decreases the size of operations

A

downsizing

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17
Q

involves selling off parts of the organization to refocus attention on core business areas

A

divestiture

18
Q

adopts standardized products and advertising for use worldwide

A

globalization strategy

19
Q

tries to operate globally with out having a strong national identity

A

transnational firm

20
Q

organizations join together in partnership to pursue an area of mutual interest

A

strategic alliance

21
Q

is the strategy of working with rivals on projects of mutual benefit

A

co-opitition

22
Q

strategically uses the internet to gain competitive advantage

A

e-business strategy

23
Q

uses IT and web portals to link organizations vertically in supply chains

A

B2B business strategy

24
Q

uses IT and web portals to link businesses to customers

A

B2C business strategy

25
Q

uses social media to better engage with an organization’s customers clients and external audiences in general

A

social media strategy

26
Q

strategy uses the internet to engage customers and potential customers in providing opinions and suggestions on products and their designs

A

crowdsourcing

27
Q

is the process of formulating and implementing strategies

A

strategic management

28
Q

is the process of creating strategies

A

strategy formulation

29
Q

is the process of purring strategies into action

A

strategy implementation

30
Q

is the organization;s reason for existence in society

A

mission

31
Q

are specific results that organizations try to accomplish

A

operating objectives

32
Q

is a special strength that gives an organization a competitive advantage

A

core competency

33
Q

offers products that are unique and different form those of the competition

A

differentiation strategy

34
Q

seeks to operate with lower costs than competitors

A

cost leadership strategy

35
Q

offers a unique product to a special market segment

A

focused differentiation strategy

36
Q

seeks the lowest costs of operations within a special market segment

A

focused cost leadership strategy

37
Q

examines organizational strengths and weaknesses as well as environmental opportunities and threats

A

SWOT analysis

38
Q

analyzes business opportunities according to market growth rate and market share

A

BCG Matrix

39
Q

inspires people to implement organizational strategies

A

strategic leadership

40
Q

makes sure strategies are will implemented and that poor strategies are scrapped or changed

A

strategic control

Organizational Management (13 decks)

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