Cedarville University Exam 2 Study
Giest
S.W.O.T. Analysis - ANSWER-Organizational Strengths and Weaknesses
environmental Opportunities and Threats
Core Capabilities - ANSWER-The internal decision-making routines, problem-solving
processes, and organizational cultures that determine how efficiently inputs can be
turned into outputs
Distinctive competence - ANSWER-What a company can make, do, or perform better
than its competitors
Cost leadership - ANSWER-The positioning strategy of producing a product or service
of acceptable quality at consistently lower production costs than competitors can, so
that the firm can offer the product or service at the lowest price in the industry.
Proximal Goals - ANSWER-short-term goals or subgoals
Distal goals - ANSWER-long-term or primary goals
Options-Based planning - ANSWER-maintaining planning flexibility by making small,
simultaneous investments in many alternative plans
Slack Resources - ANSWER-a cushion of extra resources that can be used with
options-based planning to adapt to unanticipated changes, problems, or opportunities
Top Management - ANSWER-Responsible for developing long term strategic plans
Middle Management - ANSWER-Responsible for developing and carrying out tactical
plans to accomplish strategic objective
Lower-level managers - ANSWER-Responsible for developing and carrying out
operational plans
Strategic Planning - ANSWER-long-term planning, usually over two to five years
Tactical Planning - ANSWER-short term planning, usually over six months to two years
Operational Plans - ANSWER-day to day plans for producing or delivering the
organization's products and services
Giest
S.W.O.T. Analysis - ANSWER-Organizational Strengths and Weaknesses
environmental Opportunities and Threats
Core Capabilities - ANSWER-The internal decision-making routines, problem-solving
processes, and organizational cultures that determine how efficiently inputs can be
turned into outputs
Distinctive competence - ANSWER-What a company can make, do, or perform better
than its competitors
Cost leadership - ANSWER-The positioning strategy of producing a product or service
of acceptable quality at consistently lower production costs than competitors can, so
that the firm can offer the product or service at the lowest price in the industry.
Proximal Goals - ANSWER-short-term goals or subgoals
Distal goals - ANSWER-long-term or primary goals
Options-Based planning - ANSWER-maintaining planning flexibility by making small,
simultaneous investments in many alternative plans
Slack Resources - ANSWER-a cushion of extra resources that can be used with
options-based planning to adapt to unanticipated changes, problems, or opportunities
Top Management - ANSWER-Responsible for developing long term strategic plans
Middle Management - ANSWER-Responsible for developing and carrying out tactical
plans to accomplish strategic objective
Lower-level managers - ANSWER-Responsible for developing and carrying out
operational plans
Strategic Planning - ANSWER-long-term planning, usually over two to five years
Tactical Planning - ANSWER-short term planning, usually over six months to two years
Operational Plans - ANSWER-day to day plans for producing or delivering the
organization's products and services
