Identification (Chap 2) Flashcards
Mexican factories located along
the U.S.–Mexico border that receive preferential tariff treatment.
Maquiladoras
An international organization that
promotes world trade by lowering
barriers to the free flow of goods
across borders.
World Trade Organization
(WTO)
A free trade agreement between
Canada, Mexico, and the United
States.
North American Free Trade
Agreement (NAFTA)
A free trade agreement bet
A European trade group that has
28 member states.
European Union (EU
The purpose or rationale for an
organization’s existence.
Mission
How an organization expects to
achieve its missions and goals
Strategy
The creation of a unique advantage over competitors.
Competitive advantage
Distinguishing the offerings of
an organization in a way that the
customer perceives as adding
value.
Differentiation
Engaging a customer with a
product through imaginative use of
the five senses, so the customer
“experiences” the product.
Experience differentiation
Achieving maximum value, as
perceived by the customer.
Low-cost leadership
A method of analyzing the
five forces in the competitive
environment.
Five forces model
A set of values related to rapid,
flexible, and reliable performance.
Response
A way to identify those elements
in the product/service chain that
uniquely add value.
Value Chain Analysis
A method managers use to
evaluate the resources at their
disposal and manage or alter them
to achieve competitive advantage
Resources view
A method of determining internal
strengths and weaknesses and
external opportunities and threats.
SWOT Analysis
