How to remember flow of decision levels
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STO; Strategic leads to tactical leads to Operational
introduction stage
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focus on getting the product out the door without sacrificing quality
(product life cycle stages)
chief executive officer
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may serve as president or board chair; has a major role in planning and
implementing the strategy
standing plan
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developed for activities that recur regularly over a period of time
bounded rationality
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decision makers are limited by their values and unconscious reflexes, skills,
and habits
acquisition
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purchase of a firm by another firm that is considerably larger
strategic business units
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each business or group of businesses with an organization is engaged in
serving the same markets, customers, or products
clustering illusion
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the tendency to see patterns in random events
mature stage
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focus on low costs and new products. essential stage if company is going
to survive in the long-run (product life cycle stages)
risk propensity
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the extent to which a decision maker is willing to gamble when making a
decision
related diversification strategy
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1. a strategy in which an organization operates in several different
businesses, industries, or markets that are somehow linked
2. avoids the disadvantages and risks of a single-product strategy
deliberate strategy
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a plan, chosen and implemented to support specific goals, that is the result
of a rational, systematic, and planned process of strategy formulation and
implementation
compliance
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people conform to others' expectations or behaviors in the hope of
acquiring rewards or avoiding punishment
business-level strategy
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Give this one a try later!
STO; Strategic leads to tactical leads to Operational
introduction stage
Give this one a try later!
focus on getting the product out the door without sacrificing quality
(product life cycle stages)
chief executive officer
,Give this one a try later!
may serve as president or board chair; has a major role in planning and
implementing the strategy
standing plan
Give this one a try later!
developed for activities that recur regularly over a period of time
bounded rationality
Give this one a try later!
decision makers are limited by their values and unconscious reflexes, skills,
and habits
acquisition
Give this one a try later!
purchase of a firm by another firm that is considerably larger
strategic business units
,Give this one a try later!
each business or group of businesses with an organization is engaged in
serving the same markets, customers, or products
clustering illusion
Give this one a try later!
the tendency to see patterns in random events
mature stage
Give this one a try later!
focus on low costs and new products. essential stage if company is going
to survive in the long-run (product life cycle stages)
risk propensity
Give this one a try later!
the extent to which a decision maker is willing to gamble when making a
decision
related diversification strategy
, Give this one a try later!
1. a strategy in which an organization operates in several different
businesses, industries, or markets that are somehow linked
2. avoids the disadvantages and risks of a single-product strategy
deliberate strategy
Give this one a try later!
a plan, chosen and implemented to support specific goals, that is the result
of a rational, systematic, and planned process of strategy formulation and
implementation
compliance
Give this one a try later!
people conform to others' expectations or behaviors in the hope of
acquiring rewards or avoiding punishment
business-level strategy
Give this one a try later!
