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Terms in this set (16)
returns in excess of what an investor expects to earn from other investments with a similar amount of risk
returns equal to those an investor expects to earn from other investments with a similar amount of risk
the capacity for a set of resources to perform a task or an activity in an integrative manner.
when it implements a strategy that creates superior value for customers and competitors are unable to duplicate or find too costly to try to imitate.
capabilities that serve as a source of competitive advantage for a firm over its rivals
one in which goods, services, people, skills, and ideas move freely across geographic borders.
specifies the businesses in which the film intends to compete and the customers it intends to serve.
refers to the complex set of ideologies, symbols, and core values that are shared throughout the firm and that influence how the firm conducts business.
inputs into a firm's production process, such as capital equipment, the skills of individual employees, patents, finances, and talented managers
an investor's uncertainty about the economic gains or losses that will result from a particular investment
the individuals, groups, and organizations that can affect the firm's vision and mission, are affected by the strategic outcomes achieved, and have enforceable claims on the firm's performance.
a set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment.
people located in different areas and levels of the firm using the strategic management process to select strategic actions that help the firm achieve its vision and fulfill its mission.
strategic management process
the full set of commitment, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns.
an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.
a picture of what the firm wants to be and, in broad terms, what it wants to ultimately achieve.
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