Term
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Definition
| the ability to do something so well that one outperforms competitors |
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Term
| sustainable competitive advantage |
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Definition
| the ability to outperform rivals in ways that are diffucult or costly to imitate |
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Term
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Definition
| comprehensive plan guiding resource allocation to achieve long-term organizational goals |
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Term
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Definition
| focuses and applies organizational energies on a unifying and compelling goal |
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Term
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Definition
| sets long-term direction for the total enterprise |
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Term
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Definition
| identifies how a division or strategic business unit will compete in its product or service domain |
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Term
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Definition
| guides activities within one specific area of operations |
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Term
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Definition
| process of formulating and implementing strategies |
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Term
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Definition
| process of analyzing the organization, the environment, and the organization's competitive position and current strategies |
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Term
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Definition
| the process of putting strategies into action |
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Term
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Definition
| process of putting strategies into action |
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Term
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Definition
| expresses the organization's reason for existence |
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Term
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Definition
| individuals and groups directly affected by the organization and its strategic accomplishments |
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Term
| strategic constituencies analysis |
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Definition
| assesses interests of stakeholders and how well the organization is responding to them |
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Term
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Definition
| broad beliefs about what is or is not appropriate behavior |
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Term
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Definition
| predominant value system for the whole organization |
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Term
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Definition
| specific results that organizations try to accomplish |
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Term
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Definition
| a special strength that gives an organization a competitive advantage |
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Term
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Definition
| involves expansion of the oranization's current operations |
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Term
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Definition
| maintains current operations without substantial changes |
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Term
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Definition
| tries to solve problems and overcome weaknesses that are hurting performance |
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Term
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Definition
| business operatons cease and assets are sold to pay creditors |
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Term
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Definition
| pursues growth, stability, and/or retrenchment in some combination |
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Term
| growth through concentration |
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Definition
| is within the same business area |
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Term
| growth through diversification |
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Definition
| is by acquistion of or investment in new and diffferent business areas |
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Term
| growth through vertical integration |
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Definition
| is by acquiring suppliers or distributors |
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Term
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Definition
| changes the mix or reduces the scale of operations |
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Term
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Definition
| tries to fix specific performance problems |
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Term
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Definition
| redcues the size of operations |
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Term
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Definition
| sells off parts of the organization to refocus attention on core business areas |
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Term
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Definition
| adopts standardized products and advertising for use worldwide |
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Term
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Definition
| customizes products and advertising to best fit local needs |
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Term
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Definition
| seeks efficiences of global operations with attention to local markets |
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Term
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Definition
| organizations join together in partnership to puruse an area of mutual interest |
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Term
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Definition
| strategy of working with rivals on projects of mutual benefit |
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Term
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Definition
| stategically uses the internet to gain competitive advantage |
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Term
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Definition
| uses IT and Web portals to link organiztions vertically in supply chians |
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Term
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Definition
| uses IT and Web portals to link businesses with customers |
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Term
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Definition
| apporach seeks the best mix of investments among alternative business oppurtunities |
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Term
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Definition
| analyzes business opputunities according to market growth rate and market share |
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Term
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Definition
| offers products that are unique and different from the competition |
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Term
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Definition
| seeks to operate with low cost so that products can be sold at low prices |
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Term
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Definition
| concentrates on serving a unique market segment bertter than anyone else |
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Term
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Definition
| strategy offers a unique product to a special market segment |
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Term
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Definition
| strategy seeks the lowest costs of operations with a special market segment |
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Term
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Definition
| makes modest changes in strategy as experience builds over time |
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Term
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Definition
| unfolds over time as management learns from and responds to experience |
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Term
| lack of participation error |
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Definition
| a failure to include key persons in strategic planning |
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Term
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Definition
| the system of control and performance monitoring of top management |
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Term
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Definition
| makes sure strategies are well implemented and that poor strategies are scrapped or modified |
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Term
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Definition
| inspired people to continuously change, refine, and improve strategies and their implementation |
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