CHP 1 Flashcards
Adaptive mode
The strategic formality associated with medium sized firms that emphasize the incremental modification of existing competitive approaches.
Company mission
The unique purpose that sets a company apart from others and identifies the scope of its operation.
Continuous improvement
A form of strategic control in which managers are encouraged to be proactive in improving all operations of the firm.
Dynamic
The term that characterizes the constantly changing conditions that affect interrelated and interdependent strategic activities
Entrepreneurial mode
The informal, intuitive, and limited approach to strategic management associated with owner-managers of smaller firms
Feedback
The analysis of postimplementation results that can be used to enhance future decision making
Formality
The degree to which participation, responsibility, authority, and discretion in decision making are specified in strategic management.
Functional Tactics
Short term, narrow scoped plans that detail the means or activities that a company will use to achieve short term objectives.
Generic strategies
Fundamental philosophical options for the design of strategies.
Grand strategies
The means by which objectives are achieved.
Long term objectives
The results that an organization seeks to achieve over a multiyear period.
Planning mode
The strategic formality associated with large firms that operate under a comprehensive, formal planning system.
Policies
Predetermined decisions that substitute for managerial discretion in repetitive decision making.
Process
The flow of information through interrelated stages of analysis toward the achievement of an aim.
Short term objectives
Desired results that provide specific guidance for action during a period of one year or less.
