Mature Industry An industry growing slower than the overall economy or actually

Mature industry an industry growing slower than the

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Mature Industry: An industry growing slower than the overall economy or actually declining. Merger: Combination and pooling of equal companies, with the newly created company often taking on a new name. O Outcomes: Results arising from management actions. Outsourcing: Contracting and activity to another firm. P Partnerships: Entails forming a new corporate entity owned by partners that can be terminated whenever one of the partners chooses. 6
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M.B.A. (Sem. - III) Strategic Management Portfolio Approach: A method of looking at each of the “businesses” of a firm as elements in a total portfolio. Product Life Cycle Analysis: A forecasting technique, which analyzes/predicts the performance of a product/service during each stage of its development. R Retrenchment Response: In a turnaround situation, cost cutting and asset reduction to improve a firm’s fortunes. S Short-Term Objectives: Usually one year objectives sometimes known as Annual Objectives. They often coincide with Long-Term Objectives; they usually indicate the speed at which management wants the organization to progress. Stakeholder: A person, group, or business that has an interest in the outcomes of a firm’s operations. Strategic Alliances: Cooperative agreements between firms that go beyond normal company-to-company dealings but fall short of merger or full joint venture partnership with formal ownership ties. Strategic Analysis: Contrasts a firm’s Company Profile with its External Environment to identify a range of possible strategic alternatives; screened against the Company Mission statement to determine desired opportunities. Strategic Decisions: Management decisions related to the future of a firm’s operations; made at the corporate, business, functional, and individual level. Strategic Vision: The company’s direction and future product/customer/market/technology focus. Strength: A skill, resource, or other advantage that a firm has relative to its competitors that is important to serving the needs of customers in its marketplace. 7
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M.B.A. (Sem. - III) Strategic Management Sustainable Competitive Advantage: Competitive advantages that can be maintained over a fairly long period of time. Switching Costs: The costs incurred by a customer in changing from one firm to another to meet their requirements. T Trend Extrapolation: A forecasting technique utilizing linear or exponential smoothing or averaging of historical values. V Value-Chain: Separate activities, function and business processes that are performed in designing, producing, marketing, deliveries, and supporting a product or service. Vertical Integration: The acquisition of suppliers (backward integration) or distributors (forward integration). Utilized to expand operations, achieve greater market share, increase the efficiency of capital, and/or improve economies of scale. W Weakness: A limitation or lack of skills, resources, or capabilities that impedes a firm’s effective performance. See also Strength. 8
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  • Fall '14
  • Ravi Prasad

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