MANA 3335 Exam 2
resources - ✔️✔️the assets, capabilities, processes, employee time, information, and
knowledge that an organization uses to improve its effectiveness and efficiency and
create and sustain competitive advantage
sustainable competitive advantage - ✔️✔️a competitive advantage that other
companies have tried unsuccessfully to duplicate and have, for the moment, stopped
trying to duplicate
competitive advantage - ✔️✔️providing greater value for customers than competitors
can
imperfectly imitable resource - ✔️✔️a resource that is impossible or extremely costly or
difficult for other firms to duplicate (for example, social networks within a company that a
competitor can't recreate)
strategic reference points - ✔️✔️the strategic targets managers use to measure
whether a firm has developed the core competencies it needs to achieve a sustainable
competitive advantage
situational (SWOT) analysis - ✔️✔️an assessment of the strengths and weaknesses in
an organization's internal environment and the opportunities and threats in its external
environment (strengths, weaknesses, opportunities, threats)
valuable resource - ✔️✔️a resource that allows companies to improve efficiency and
effectiveness. resources that are congruent with company goals (for example, a phone
company wouldn't be buying tea leaves)
rare resource - ✔️✔️a resource that is not controlled or possessed by many competing
firms
nonsubstitutable resource - ✔️✔️a resource that produces value or competitive
advantage and has no equivalent substitutes or replacements (for example, copyrights
and patents)
competitive inertia - ✔️✔️a reluctance to change strategies or competitive practices
that have been successful in the past
strategic dissonance - ✔️✔️a discrepancy between a company's intended strategy and
the strategic actions managers take when implementing that strategy
, core capabilities - ✔️✔️the internal decision-making routines, problem-solving
processes, and organizational cultures that determine how efficiently inputs can be
turned into outputs
strategic group - ✔️✔️a group of companies within an industry against which top
managers compare, evaluate, and benchmark strategic threats and opportunities
core firms - ✔️✔️the central companies in a strategic group
secondary firms - ✔️✔️the firms in a strategic group that follow strategics related to but
somewhat different from those of the core firms
corporate-level strategy - ✔️✔️the overall organizational strategy that addresses the
question "What business or businesses are we in or should we be in?"
portfolio strategy - ✔️✔️a corporate-level strategy that minimizes risk by diversifying
investment among various businesses or product lines
acquisition - ✔️✔️the purchase of a company by another company
unrelated diversification - ✔️✔️creating or acquiring companies in completely unrelated
businesses
star - ✔️✔️On the BCG matrix, a company with a large share of a fast-growing market
question mark - ✔️✔️On the BCG matrix, a company with a small share of a fast-
growing market
cash cows - ✔️✔️On the BCG matrix, a company with a large share of a slow-growing
market
dogs - ✔️✔️On the BCG matrix, a company with a small share of a slow-growing
market
related diversification - ✔️✔️creating or acquiring companies that share similar
products, manufacturing, marketing, technology, or cultures
grand strategy - ✔️✔️a strategy that focuses on increasing profits, revenues, market
shares, or the number of places in which the company does business
stability strategy - ✔️✔️a strategy that focuses on improving the way in which company
sells the same products or services to the same customers
resources - ✔️✔️the assets, capabilities, processes, employee time, information, and
knowledge that an organization uses to improve its effectiveness and efficiency and
create and sustain competitive advantage
sustainable competitive advantage - ✔️✔️a competitive advantage that other
companies have tried unsuccessfully to duplicate and have, for the moment, stopped
trying to duplicate
competitive advantage - ✔️✔️providing greater value for customers than competitors
can
imperfectly imitable resource - ✔️✔️a resource that is impossible or extremely costly or
difficult for other firms to duplicate (for example, social networks within a company that a
competitor can't recreate)
strategic reference points - ✔️✔️the strategic targets managers use to measure
whether a firm has developed the core competencies it needs to achieve a sustainable
competitive advantage
situational (SWOT) analysis - ✔️✔️an assessment of the strengths and weaknesses in
an organization's internal environment and the opportunities and threats in its external
environment (strengths, weaknesses, opportunities, threats)
valuable resource - ✔️✔️a resource that allows companies to improve efficiency and
effectiveness. resources that are congruent with company goals (for example, a phone
company wouldn't be buying tea leaves)
rare resource - ✔️✔️a resource that is not controlled or possessed by many competing
firms
nonsubstitutable resource - ✔️✔️a resource that produces value or competitive
advantage and has no equivalent substitutes or replacements (for example, copyrights
and patents)
competitive inertia - ✔️✔️a reluctance to change strategies or competitive practices
that have been successful in the past
strategic dissonance - ✔️✔️a discrepancy between a company's intended strategy and
the strategic actions managers take when implementing that strategy
, core capabilities - ✔️✔️the internal decision-making routines, problem-solving
processes, and organizational cultures that determine how efficiently inputs can be
turned into outputs
strategic group - ✔️✔️a group of companies within an industry against which top
managers compare, evaluate, and benchmark strategic threats and opportunities
core firms - ✔️✔️the central companies in a strategic group
secondary firms - ✔️✔️the firms in a strategic group that follow strategics related to but
somewhat different from those of the core firms
corporate-level strategy - ✔️✔️the overall organizational strategy that addresses the
question "What business or businesses are we in or should we be in?"
portfolio strategy - ✔️✔️a corporate-level strategy that minimizes risk by diversifying
investment among various businesses or product lines
acquisition - ✔️✔️the purchase of a company by another company
unrelated diversification - ✔️✔️creating or acquiring companies in completely unrelated
businesses
star - ✔️✔️On the BCG matrix, a company with a large share of a fast-growing market
question mark - ✔️✔️On the BCG matrix, a company with a small share of a fast-
growing market
cash cows - ✔️✔️On the BCG matrix, a company with a large share of a slow-growing
market
dogs - ✔️✔️On the BCG matrix, a company with a small share of a slow-growing
market
related diversification - ✔️✔️creating or acquiring companies that share similar
products, manufacturing, marketing, technology, or cultures
grand strategy - ✔️✔️a strategy that focuses on increasing profits, revenues, market
shares, or the number of places in which the company does business
stability strategy - ✔️✔️a strategy that focuses on improving the way in which company
sells the same products or services to the same customers
