Strategic Management Chapters 1-5
Activities - ANS-Allow firms to feature price with the aid of remodeling inputs into items and
offerings.
AFI approach framework - ANS-A model that links three interdependent strategic control tasks
that together help firms conceive and put into effect a strategy which can enhance overall
performance and result in a CA.
Balanced scorecard - ANS-Strategy implementation device that harnesses multiple inner and
external performance metrics so as to stability economic and strategic dreams.
Bottom of the pyramid - ANS-The biggest however poorest socioeconomic organization of the
sector's populace. Can yield sizable business opportunities.
Business version - ANS-The translation of the method into action takes area here, and it
information the firm's aggressive techniques and projects. How the firm intends to make cash.
Business-level method - ANS-Involves deciding a way to compete if you want to gain superior
overall performance within the enterprise unit. Formulated through widespread managers.
Capabilities - ANS-Organizational and managerial competencies necessary to orchestrate a
diverse set of assets and to deploy them strategically. Intangible by nature.
Co-opetition - ANS-Cooperation through competition to reap a strategic goal.
Competitive gain - ANS-Superior performance relative to other competition in the equal
enterprise or the industry common.
A company that formulates and implements a method that leads to superior performance
relative to competition has this.
Competitive disadvantage - ANS-Under performance relative to other competition within the
same industry or the industry common.
Competitive parity - ANS-Performance of two or extra companies on the identical level.
Complement - ANS-Product, provider, or competency that provides value to the original product
presenting whilst the 2 are utilized in tandem. Increase demand and beautify profit capability.
, Complementor - ANS-A organisation that offers a very good or service that leads customers to
cost your company's imparting extra when the 2 are mixed.
Consumer surplus - ANS-Difference between the cost (V) a consumer attaches to an excellent
or carrier and what she or he paid (P) for it.
Core competencies - ANS-Unique strengths, embedded deep inside a company, that allow a
company to distinguish its PnS from the ones of its opponents. This creates higher price for the
client or imparting services and products of comparable cost at a lower value.
Corporate-stage strategy - ANS-Involves decisions made at the highest level of the firm
approximately where to compete. Which industries, markets, and geographies their employer
ought to compete, and how properly they are able to create synergies across exclusive
business gadgets.
Costly to imitate useful resource - ANS-When companies do no possess this, they may be
unable to increase or buy the resource at a comparable value.
Crowdsourcing - ANS-A method in which a collection of human beings voluntarily performs
obligations that were traditionally completed through a firm's personnel.
Threadless T-blouse business enterprise used this.
Dominant strategic plan - ANS-The strategic option that managers suppose most intently suits a
fact at a given factor in time.
Economic value created - ANS-Difference between fee and price (V - C). AKA financial
contribution. Also
Emergent approach - ANS-Any unplanned strategic initiative undertaken through mid-stage
employees of their very own volition. If a hit, these have the ability to influence and form a
company's strategy.
Entry barrier - ANS-Obstacle that determines how without difficulty a firm can input an
enterprise. Often of the most large predictors of enterprise profitability.
Exit obstacles - ANS-Obstacles that determine how without problems a company can depart an
industry. Lower the higher.
Externalities - ANS-Side-consequences of production and intake that aren't contemplated within
the price of a product.
Firm effects - ANS-The effects of managers' moves to influence firm performance.
Activities - ANS-Allow firms to feature price with the aid of remodeling inputs into items and
offerings.
AFI approach framework - ANS-A model that links three interdependent strategic control tasks
that together help firms conceive and put into effect a strategy which can enhance overall
performance and result in a CA.
Balanced scorecard - ANS-Strategy implementation device that harnesses multiple inner and
external performance metrics so as to stability economic and strategic dreams.
Bottom of the pyramid - ANS-The biggest however poorest socioeconomic organization of the
sector's populace. Can yield sizable business opportunities.
Business version - ANS-The translation of the method into action takes area here, and it
information the firm's aggressive techniques and projects. How the firm intends to make cash.
Business-level method - ANS-Involves deciding a way to compete if you want to gain superior
overall performance within the enterprise unit. Formulated through widespread managers.
Capabilities - ANS-Organizational and managerial competencies necessary to orchestrate a
diverse set of assets and to deploy them strategically. Intangible by nature.
Co-opetition - ANS-Cooperation through competition to reap a strategic goal.
Competitive gain - ANS-Superior performance relative to other competition in the equal
enterprise or the industry common.
A company that formulates and implements a method that leads to superior performance
relative to competition has this.
Competitive disadvantage - ANS-Under performance relative to other competition within the
same industry or the industry common.
Competitive parity - ANS-Performance of two or extra companies on the identical level.
Complement - ANS-Product, provider, or competency that provides value to the original product
presenting whilst the 2 are utilized in tandem. Increase demand and beautify profit capability.
, Complementor - ANS-A organisation that offers a very good or service that leads customers to
cost your company's imparting extra when the 2 are mixed.
Consumer surplus - ANS-Difference between the cost (V) a consumer attaches to an excellent
or carrier and what she or he paid (P) for it.
Core competencies - ANS-Unique strengths, embedded deep inside a company, that allow a
company to distinguish its PnS from the ones of its opponents. This creates higher price for the
client or imparting services and products of comparable cost at a lower value.
Corporate-stage strategy - ANS-Involves decisions made at the highest level of the firm
approximately where to compete. Which industries, markets, and geographies their employer
ought to compete, and how properly they are able to create synergies across exclusive
business gadgets.
Costly to imitate useful resource - ANS-When companies do no possess this, they may be
unable to increase or buy the resource at a comparable value.
Crowdsourcing - ANS-A method in which a collection of human beings voluntarily performs
obligations that were traditionally completed through a firm's personnel.
Threadless T-blouse business enterprise used this.
Dominant strategic plan - ANS-The strategic option that managers suppose most intently suits a
fact at a given factor in time.
Economic value created - ANS-Difference between fee and price (V - C). AKA financial
contribution. Also
Emergent approach - ANS-Any unplanned strategic initiative undertaken through mid-stage
employees of their very own volition. If a hit, these have the ability to influence and form a
company's strategy.
Entry barrier - ANS-Obstacle that determines how without difficulty a firm can input an
enterprise. Often of the most large predictors of enterprise profitability.
Exit obstacles - ANS-Obstacles that determine how without problems a company can depart an
industry. Lower the higher.
Externalities - ANS-Side-consequences of production and intake that aren't contemplated within
the price of a product.
Firm effects - ANS-The effects of managers' moves to influence firm performance.
