The purpose of existence of the organization

How you visualize refers to futuristic purpose of the business

Refers to the importance to the organization which varies depending on leadership and style

Define your organization's purpose its primary objectives

They are set in the present tense and explain why you exist as a business

Also define your organization's purpose but they focus on its goals and aspirations

Mission statements must be

This statements are designed to be uplifting an inspiring they are also timeless even if the organization changes its strategy it will stay the same

Diversifying related market new product existing market

Diversify and unrelated market new product new market

Is a process of measuring the performance of a company services, products or processes against those of another business considered to be the best and the industry aka best in class

Is a variant of the classic business tool SWOT analysis but it is directed more outside

It allows you to analyze the internal environment and to plan your own changes through the analysis of changes in the external environment

Is a process where a firm identifies its primary and support activities that add value to its final product and then analyze this activities to reduce cost or increase differentiation

Represents the internal activities of film engages in when transforming inputs into outputs

Value chain analysis always starts with______ and ends with_______

Is the process of determining new products position in the minds of consumers

It includes analyzing the market and competitors position defining the position of a new product among the existing ones and communicating particular brands product image

Is a document used to communicate with organization the organizations goes the action needed to achieve those goals and all of the other critical elements developed during the planning exercise

An organizational management activity that is used to set priorities focus energy and resources strengthen operations ensure that employees and other stakeholders are working toward common goals established agreement around intended outcome of result and assess and adjust organizations direction and response to a changing environment

Is simply an intentional and rational thought process that focuses on the analysis of critical factors and variables that will influence the long term success of a business a team or an individual

It requires research analytical thinking innovation problem solving skills communication and leadership skills and decisiveness

Give the four roles of planning

It helps institution coordinate across diffusions create efficiencies and look to the future

The sum total of all activities and choices required for the execution of a strategic plan

Three questions to ask in strategy implementation

A collection of tactics

The individual action taken by the organization as an element of the effort to accomplish the plan

Purpose of a program or a tactic

Deals with when a company implements a strategy

First company to manufacture and sell a new product or service

May be able to imitate the technological advances of others keepers down by waiting until a new technological standard or market is established and take advantage of the first movers natural inclination to ignore market segments

Deals with where a company implements strategy

Usually takes place in an established competitors market location

Usually takes place in the firm's own current market possession as a defense against possible attack by a rival

Blocks avenues of the attacker for example offering a full line of products in every profitable market segments to close of any entry points

When the defender increases the perceived threat of retaliation for an attack

This counter attack especially important in markets that are critical to the defending company

Is when the defender reduces the expectations of the attack or recording the future profits in the industry

The defender can deliberately keep prices low and constantly invest in cost reducing measures

With prices being loader is little profit incentive for a new entrant

Planning this is the last real check a corporation has on the feasibility of its selected strategy

Detailed the various activities that must be carried out to complete a corporation's programs

Exist for a divisional corporation/diversification if the return on investment is greater than what the return would be if each division where an independent business

Usually involves the financial benefits that companies get from combining their operations

Changes in corporate strategy lead to changes in organizational structure

Flat structure

Flexible and dynamic

Entrepreneur is replaced by a team of managers

Management of diverse product lines in numerous industries

Decentralized decision making

Generates two lines of authority combining the functional and product departments of the organization

Network

Describes how organizations grow develop and decline

The radical redesign of business processes to achieve major gains and cost service or time

Effective program to implement a turnaround strategy

Analytical method for achieving near perfect result on a product line

Emphasis is on reducing product variance in order to boost quality and efficiency

Includes the removal of unnecessary steps in any process and fixing those that remain

The study of individual task in an attempt to make them more relevant to the company and to the employees

Logical sequence to job analysis

Combining task to give a worker more of the same type of duties to perform

Adding new task to an existing job

Moving workers through several jobs to increase variety

Using task characteristics to improve employee motivation

Altering the jobs by giving the worker more autonomy and control over activities

Giving more responsibilities for their work learn new skills

A highly developed international company with a deep involvement throughout the world plus a worldwide perspective in its management and decision making

Enables the company to introduce and manage a similar line of products around the world

Enables the corporation to centralize decision making along product lines and to reduce cost

Allows the company to tailor products to regional differences and to achieve regional coordination

The process through which the strategists know the extent to which a strategy is able to achieve its objectives

Is the process by which a company expands its own capacity

In this strategy a business utilizes all of its resources without the need to borrow to expand its operation and grow the company

It occurs when two separate entities combined forces to create a new joint organization

Growth by merger or acquisition

The first to the takeover of one entity by another

Happen when two or more business work together to create a win-win situation

Refers to a strategy of acquiring a company in the same business line or the same level of supply chain

It refers to the merger of two concerns at approximately the same level of the production supply chain hierarchy

They may belong to different industries but come together to improve the economies of scale and increase merges

Is a strategy where a firm acquires business operations within the same production vertical

It combines backward integration and forward integration

Refers to a strategy of acquiring a company who is at the same level of supply chain usually the lower level

When a business add or expand its existing product lines or market

When a business adds new or unrelated product lines or market

Is a practice done by organizations to gain a better financial position by lowering or reducing the cause of any of its business operation

Is a form of retrenchment strategy where a company realizes that it has made wrong decisions earlier

Refers to the act of partially or entirely selling organizational assets to generate fund urgently

Is a closure strategy where business sell their asset in order to wind up their business operation

Many business expert consider it unpleasant strategy because you terminate the business operations permanently