Strategy Flashcards
Concept that proposes that any organization operates within a complex environment in which it affects and is affected by a variety of forces or stakeholders who all share in the value of the organization and its activities.
Stakeholder concept
Statistical method that identifies the degree of difference between planned and actual performance.
Variance analysis
The process by which an organization creates the product or service it offers to the customer.
Value chain
A metric that describes an activity that can change future performance and indicate higher degree of success in achieving strategic goals.
Leading indicator
Process that compares performance levels and/or processes of one entity with those of another to identify performance gaps and set goals aimed at improving performance.
Benchmarking
Ability to gather and analyze date from inside and outside the organization so that information is available for decision makers.
Business intelligence
Describes the shortest amount of time required to complete a project, taking into account all project task relationships–for example, whether task C must be completed before Task E, and whether Tasks A and B can be completed at the same time.
Critical path
Statement that reports the financial position of the organization at a specific point in time; shows assets, liabilities, and shareholder equity.
Balance sheet
A state in which an organization’s strategy is consistent with its external opportunities and circumstances and its internal structure, resources, and capabilities.
Strategic fit
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.
Scenario/what-if analysis
The actions that leaders take to move their organizations toward those goals and create value for all stakeholders.
Strategic management
Statement that reports revenues, expenses, and net income (profit) for a specified period–for example, quarterly or annually.
Income statement
Statement that shows incoming and outgoing cash in the areas of operations, investments, and financing and remaining cash reserves; reflects an organization’s ability to meets its current and short-term obligations.
Cash flows statement
Strategies that create competitive advantage by creating a new marketplace arena in which there are no other competitors.
Blue ocean strategies
Beliefs that are importance to an organization and often dictate employee behavior.
Organizational values
Statement that specifies what activities an organization intends to pursue and what course management has chartered for the future; a concise statement of its strategy.
Mission statement
A metric that describes an activity that has already occurred.
Lagging indicator
The basic beliefs and customs shared by members of an organization that contribute to an organization’s sense of its identity.
Organizational culture
Statistical method that studies the way in which a variable may change over time.
Trend analysis
The process of setting goals and designing a path toward a competitive position.
Strategic planning
Vivid, guiding image of an organizations’s desired future, the future it hopes to attain through its strategy.
Vision statement
Actions, processes, or results that are needed to deliver a desired value.
Value drivers
The benefit created when an organization meets its strategic goals.
Value
