Exam2FC_4 - The flashcards are formatted for printing....

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Strategies Strategic Management
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What managers do to develop the organization’s strategies. The decisions and actions that determine the long-run performance of an organization.
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Strategic Management Process Business Model
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A strategic design for how a company intends to profit from its strategies, processes, and activities A six-step process that encompasses strategic planning, implementation, and evaluation.
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Opportunities Mission
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A statement of the purpose of an organization. Positive trends in external environmental factors.
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Resources Threats
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Negative trends in external environmental factors. An organization’s assets that are used to develop, manufacture, and deliver products or services to its customers.
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Core Competencies Capabilities
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An organization’s skills and abilities in doing the work activities needed in its business. The organization’s major value-creating skills and capabilities that determine its competitive weapons.
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Weaknesses Strengths
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Any activities the organization does well or any unique resources that is has. Activities the organization does not do well or resources it needs but does not posses.
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Corporate Strategy SWOT Analysis
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An analysis of the organization’s strengths, weaknesses, opportunities, and threats. An organizational strategy that determines what businesses a company is in, should be in, or wants to be in, and what it wants to do with those businesses.
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Related Diversification Growth Strategy
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A corporate strategy that’s used when an organization wants to grow and does so by expanding the number of products offered or markets served, either through its current business(es) or through When a company grows by combining with firms in different, but related, industries.
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new business(es).
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Stability Strategy Unrelated Diversification
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When a company grows by combining with firms in different and unrelated industries. A corporate strategy characterized by an absence of significant change in what the organization is currently doing.
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Retrenchment Strategy Renewal Strategy
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A corporate strategy designed to address organizational weaknesses that are leading to performance declines. A short-run renewal strategy used in situations when performance problems aren’t as serious.
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BCG Matrix Turnaround Strategy
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situations in which the organization’s performance problems are more serious. A strategy tool that
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