Key Words for Chapter 5 Full Display

Key Words for Chapter 5 Full Display - Key Words for...

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1. Competitive Advantage 2. Core competence 3. General Environment 4. Industry and competitor forces ( also called Porter’s five forces) 5. Mission Statement 6. Strategic Management 7. Strategic Vision 8. Superior Value 9. SWOT analysis 10.Value Chain Key Words for Chapter 5
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Key Words for C hapter 5: Strategic Management Word: Competitive Advantage Definition: Competitive advantage is the ability of a firm (or organization) to win consistently over the long term in a competitive situation. Sentence: FedEx is a market leader in air package delivery market. FedEx has a competitive advantage in this market.
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Key Words for C hapter 5: Strategic Management Word: Core Competence Definition: A core competence is a set of interrelated activities that a firm does extremely well, that can deliver competitive advantages in the short term and long term. Sentence: In the do-it-yourself market, Home Depot believes it has a core competence in the quality of customer relationships that it maintains.
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Key Words for C hapter 5: Strategic Management Word: General Environment (also called societal forces) Definition: The General Environment is comprised of sociocultural, technological,
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Key Words for Chapter 5 Full Display - Key Words for...

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