Globus Test 1

A term described as an integrative management field that combines analysis, formulation and implementations in the quest for competitive advantage. Strategic Management Identify "Strategic commitments" as a formulated strategy and using policy Strategic commitments are effective guiding policies such as sizable investment or changes o an organizations incentives and reward systems. These are big changes that can't be easily reversed. Understand what it means to have competitive parity. Performance of two or more firms at the same level. competitive advantage a firm that achieves superior performance relative to other competitors in the same industry or the industry average sustainable competitive advantage outperforming competitors or the industry average over a prolonged period of time competitive disadvantage underperformance relative to other competitors in the same industry or the industry average identify the phrase that represents the vision Wendy Kopp developed for Teach for America "One day, all children in this nation will have the opportunity to attain an excellent education" Difference between a firms vision and mission a vision defines what an organization wants to accomplish. A goal describes what an organization does to get a vision accomplished.