Midterms Flashcards
Porter’s Five Forces
How easy it is for new competitors to enter the industry.
THREAT OF NEW ENTRANTS
Porter’s Five Forces
The influence suppliers have on pricing and availability of materials.
BARGAINING POWER OF SUPPLIERS
Porter’s Five Forces
The power of customers to affect pricing and demand.
BARGAINING POWER OF BUYERS
Porter’s Five Forces
The risk of customers switching to alternative products.
THREAT OF SUBSTITUTES
Porter’s Five Forces
The intensity of competition among existing firms.
RIVALRY AMONG EXISTING COMPETITORS
Forecasting Techniques
The extension of present trends into the future.*
EXTRAPOLATION
Forecasting Techniques
A non-quantitative approach that requires the presence of people with some knowledge of the situation to be predicted.*
BRAINSTORMING
Forecasting Techniques
A non-quantitative technique in which experts in a particular area attempt to forecast likely developments.*
EXPERT OPINION
Forecasting Techniques
A method in which separated experts independently assess the likelihood of specified events.*
DELPHI TECHNIQUE
Forecasting Techniques
A quantitative technique that attempts to discover causal or explanatory factors that link two or more time series together.*
STATISTICAL MODELING
Forecasting Techniques
A recent forecasting technique enabled by easy access to the internet.*
PREDICTION MARKETS
Forecasting Techniques
Focused descriptions of different likely futures presented in a narrative fashion.*
SCENARIO WRITING
A tool that compares the firm and its rivals and reveals their relative strengths and weaknesses.*
Competitive Profile Matrix (CPM)
A simple and brief description that encompasses the purpose of a company, defining its culture, goals, and values.*
Mission Statement
9 components of a Mission Statement
- CUSTOMERS
- PRODUCTS/SERVICES
- MARKETS
- TECHNOLOGY
- CONCERN FOR SURVIVAL/GROWTH/PROFITABILITY
- PHILOSOPHY
- SELF-CONCEPT
- CONCERN FOR PUBLIC IMAGE
- CONCERN FOR EMPLOYEES
A category of firms based on a common strategic orientation and a combination of structure, culture, and processes consistent with that strategy.*
Four Strategic Types
Four Strategic Types
companies with a limited product line that focus on improving the efficiency of their existing operations.*
DEFENDERS
Four Strategic Types
corporations that lack a consistent strategy-structure-culture relationship.
REACTORS
Four Strategic Types
companies with fairly broad product lines that focus on product innovation and market opportunities.*
PROSPECTORS
Four Strategic Types
corporations that operate in at least two different product-market areas.
ANALYZERS
Internal Scanning and Organizational Analysis: Resource-Based Approach
Physical assets like buildings, machinery, and financial resources.
TANGIBLE RESOURCES
Internal Scanning and Organizational Analysis: Resource-Based Approach
Brand reputation, intellectual property, and corporate culture.
INTANGIBLE RESOURCES
Internal Scanning and Organizational Analysis: Resource-Based Approach
Employee skills, leadership capabilities, and organizational knowledge.
HUMAN RESOURCES
Internal Scanning and Organizational Analysis: Resource-Based Approach
Refer to a corporation’s ability to exploit its resources.*
CAPABILITIES
Internal Scanning and Organizational Analysis: Resource-Based Approach
Is a collection of competencies that crosses divisional boundaries, is widespread within the corporation, and something that the corporation can do exceedingly well.*
CORE COMPETENCY
Internal Scanning and Organizational Analysis: Resource-Based Approach
Is a cross-functional integration and coordination of capabilities.*
COMPETENCY
