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MGT 406 - Strategic Management > Internal Scanning > Flashcards

Internal Scanning Flashcards

1
Q

A name that identifies a particular company’s product in the mind of the consumer.

A

Brand

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2
Q

The mix of activities a company performs to earn a profit.

A

Business model

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3
Q

A corporation’s ability to exploit its resources.

A

Capability

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3
Q

The process of analyzing and ranking possible investments in terms of the additional outlays and additional receipts that will result from each investment.

A

Capital budgeting

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4
Q

The part of the industry value chain that is most important to the company and the point where the company’s greatest expertise and capabilities lay.

A

Center of gravity

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4
Q

A cross-functional integration and coordination of capabilities.

A

Competency

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5
Q

A collection of beliefs, expectations, and values learned and shared by a corporation’s members and transmitted from one generation of employees to another.

A

Corporate culture

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6
Q

A widely held perception of a company by the general public.

A

Corporate reputation

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7
Q

A process in which specialists from various functional areas work side by side rather than sequentially in an effort to design new products.

A

Concurrent engineering

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8
Q

An assemblage of legally independent firms (subsidiaries) operating under one corporate umbrella but controlled through the subsidiaries’ boards of directors.

A

Conglomerate structure

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9
Q

Production organized in lines on which products can be continuously assembled or processed.

A

Continuous systems

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10
Q

A representation that indicates how durable and imitable an organization’s resources and capabilities are.

A

Continuum of sustainability

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11
Q

A work team composed of people from multiple functions.

A

Cross-functional work teams

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12
Q

The extent to which units throughout an organization share a common culture.

A

Cultural integration

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13
Q

The degree to which members of an organizational unit accept the norms, values, or other culture content associated with the unit.

A

Cultural intensity

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14
Q

A firm’s competencies that are superior to those of competitors.

A

Distinctive competencies

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15
Q

A collection of corporate capabilities that cross divisional borders and are widespread within a corporation, and is something that a corporation can do exceedingly well.

A

Core competency

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16
Q

An organizational structure in which employees tend to be functional specialists organized according to product/market distinctions.

A

Divisional structure

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17
Q

The rate at which a firm’s underlying resources and capabilities depreciate or become obsolete.

A

Durability

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18
Q

Capabilities that are continually being changed and reconfigured to make them more adaptive to an uncertain environment.

A

Dynamic capabilities

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19
Q

A process in which unit costs are reduced by making large numbers of the same product.

A

Economies of scale

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20
Q

A process in which unit costs are reduced when the value chains of two separate products or services share activities, such as the same marketing channels or manufacturing facilities.

A

Economies of scope

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21
Q

A conceptual framework that states that unit production costs decline by some fixed percentage each time the total accumulated volume of production in units doubles.

A

Experience curve

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22
Q

Knowledge that can be easily articulated and communicated.

A

Explicit knowledge

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23
Q

An information network within an organization that is available to key suppliers and customers.

A

Extranet

24
Q

The ratio of total debt to total assets.

A

Financial leverage

25
Q

A type of manufacturing that permits the low-volume output of custom-tailored products at relatively low unit costs through economies of scope.

A

Flexible manufacturing

26
Q

An organizational structure in which employees tend to be specialists in the business functions important to that industry, such as manufacturing, sales, or finance.

A

Functional structure

27
Q

A mix of people from different races, cultures, and backgrounds in the workplace.

A

Human diversity

28
Q

A table that organizes internal factors into strengths and weaknesses and how well management is responding to these specific factors.

A

IFAS (Internal Factor Analysis Summary) table

29
Q

The rate at which a firm’s underlying resources and capabilities can be duplicated by others.

A

Imitability

30
Q

A method of manufacturing in which an item is normally processed sequentially, but the work and the sequence of the processes vary.

A

Intermittent system

31
Q

An information network within an organization that also has access to the Internet.

A

Intranet

32
Q

Refers to the selection of specific areas for marketing concentration and can be expressed in terms of market, product, and geographical locations.

A

Market position

33
Q

The division of a market into segments to identify available niches.

A

Market segmentation

34
Q

The particular combination of key variables (product, place, promotion, and price) that can be used to affect demand and to gain competitive advantage.

A

Marketing mix

35
Q

The low-cost production of individually customized goods and services.

A

Mass customization

36
Q

A company that has significant assets and activities in multiple countries.

A

Multinational corporation (MNC)

37
Q

A manufacturing firm’s corporate value chain, including inbound logistics, operations process, outbound logistics, marketing and sales, and service.

A

Primary activity

37
Q

A graph showing time plotted against sales of a product as it moves from introduction through growth and maturity to decline.

A

Product life cycle

38
Q

Research and development concerned with product or product-packaging improvements.

A

Product R&D

39
Q

The ability of competitors to duplicate resources and imitate another firm’s success.

A

Replicability

40
Q

A company’s physical, human, and organizational assets that serve as the building blocks of a corporation.

A

Resources

41
Q

A structure for new entrepreneurial firms in which the employees tend to be generalists and jacks-of-all-trades.

A

Simple structure

42
Q

A division or group of divisions composed of independent product-market segments that are given primary authority for the management of their own functions.

A

Strategic business unit (SBU)

43
Q

A comprehensive plan that states how a corporation will achieve its mission and objectives.

A

Strategy

44
Q

The formation of networks for sourcing raw materials, manufacturing products or creating services, storing and distributing goods, and delivering goods or services to customers and consumers.

A

Supply-chain management

44
Q

Knowledge that is not easily communicated because it is deeply rooted in employee experience or in a corporation’s culture.

A

Tacit knowledge

45
Q

A corporation’s proficiency in managing research personnel and integrating their innovations into its dayto-day operations.

A

Technological competence

46
Q

The displacement of one technology by another.

A

Technological discontinuity

47
Q

The process of taking a new technology from the laboratory to the marketplace.

A

Technology transfer

48
Q

The ability of competitors to gather the resources and capabilities necessary to support a competitive challenge.

A

Transferability

49
Q

The speed with which other firms can understand the relationship of resources and capabilities supporting a successful firm’s strategy.

A

Transparent

50
Q

A linked set of value-creating activities that begins with basic raw materials coming from suppliers and ends with distributors getting the final goods into the hands of the ultimate consumer.

A

Value chain

51
Q

A group of geographically and/or organizationally dispersed coworkers that are assembled using a combination of telecommunications and information technologies to accomplish an organizational task.

A

Virtual team

52
Q

Barney’s proposed analysis to evaluate a firm’s key resources in terms of value, rareness, imitability, and organization.

A

VRIO framework

53
Q

A term used to describe the evolution of the Internet into wikis, blogs, RSS, social networks, podcasts, and mash-ups.

A

Web 2.0

54
Q

is a principal means of gaining market share in global competition.

A

R&D intensity

55
Q

(internal scanning) is concerned with identifying and developing an organization’s resources and competencies.

A

organizational analysis

55
Q

the impact of a specific change in sales volume on net operating income.

A

operating leverage

MGT 406 - Strategic Management (12 decks)

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