Create an account
Sustainable Competitive Advantage
A distinctive competency that rivals cannot easily match or imitate.
Barrier to Imitation
Factors that make it difficult for a firm to imitate the competitive position of a rival.
Prior investments in a particular way of doing business that are difficult to change and limit a firm's ability to imitate a successful rival.
Strategy concerned with deciding how a firm should compete in the industries in which it has elected to participate.
Focusing managerial energy and attention on doing everything possible to lower the costs of the organization.
Identifying and selecting appropriate coals and courses of action; one of the four principal functions of management.
A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals.
A broad declaration of an organization's purpose that identifies the organization's products and customers and distinguishes the organization from its competitors.
Top management's decisions pertaining to the organization's mission, overall strategy, and structure.
A plan that indicates in which industries and national markets an organization intends to compete.
Divisional managers' decisions pertaining to divisions' long-term goals, overall strategy, and structure.
A plan that indicates how a division intends to compete against its rivals in an industry.
Functional managers' decisions pertaining to the goals that they propose to pursue to help the division attain its business-level goals.
A plan that indicates how functional managers intend to increase the value of the organization's goods and services.
The generation of multiple forecasts of future conditions followed by an analysis of how to respond effectively to each of those conditions.
The ability of the CEO and top managers to convey a compelling vision of what they want the organization to achieve to their subordinates.
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together