Strategic Management and Strategic Competitiveness Flashcards
It describes competition that is excessive such that it creates inherent instability and necessitates constant disruptive change for firms in the competitive landscape.
Hypercompetition
It is one in which goods, services, people, skills, and ideas move freely across geographic border.
Global Economy
It is the increasing economic interdependence among countries and their organizations as reflected in the flow of goods and services, financial capital, and knowledge across country borders.
The March of Globalization / Globalization
It is a term used to describe how rapidly and consistently new, information-intensive technologies replace older ones.
Perpetual Innovation
This is where information, intelligence, and expertise is the basis of technology and its application. In the competitive landscape of the twenty-first century, knowledge is a critical organizational resource and an increasingly valuable source of competitive advantage.
Increasing Knowledge Intensity / Knowledge
It refers to a set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment. Thus, strategic flexibility involves coping with uncertainty and its accompanying risks.
Strategic Flexibility
It is a model of above-average returns where it explains the external environment’s dominant influence on a firm’s strategic actions.
Industrial Organization (I/O) Model
It is a model of above-average where it assumes that each organization is a collection of unique resources and capabilities. The uniqueness of its resources and capabilities is the basis of a firm’s strategy and its ability to earn above-average returns.
Resource-Based Model
These are inputs into a firm’s production process, such as capital equipment, the skills of individual employees, patents, finances, and talented managers.
Resources
It refers to the capacity for a set of resources to perform a task or an activity in an integrative manner.
Capability
These are capabilities that serve as a source of competitive for a firm over its rivals.
Core Competencies
It is a picture of what the firm wants to be and, in broad terms, what it wants to ultimately achieve. It articulates the ideal description of an organization and gives shape to its intended future.
Vision
It specifies the businesses in which the film intends to compete and the customers it intends to serve. It is more concrete than its vision.
Mission
These are the individuals, groups, and organizations that can affect the firm’s vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm’s performance.
Stakeholders
It is where Shareholders and lenders both expect a firm to preserve and enhance the wealth they have entrusted to it. The returns they expect are commensurate with the degree of risk they accept with those investments.
Capital Market Stakeholders
