Definitions

Question 1

Promulgate

Answer 1

To announce something publicly. Usually used for laws.
Synonyms: announce, declare

Question 2

Objectives

Answer 2

Measurable, specific steps and organization takes to achieve its goals Clear on what is being done.

Ex. Exact numbers or timeline. (We want to hire 3 people in 2 months for the department)

Question 3

Goal

Answer 3

And achievable outcome that is typically broad and long-term


Question 4

Differentiation Strategy


Answer 4

Orgs develop by providing customers with something unique, different and distinct from other competitors 

Question 5

Horizontal integration

Answer 5

Involves acquiring on merging with competitors, in the same level of the supply chain

Ex. meta-purchasing Instagram 

Question 6

Vertical integration

Answer 6

Occurs when a firm, expand into another production stage like acquiring a supplier or distributor 

Question 7

Near sourcing

Answer 7

Moving biz functions to NEARBY countries. Usually the SAME border

Question 8

Onshoring

Answer 8

Moving biz functions to a LOWER COST LOCATION inside the same country