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MGMT 303 CH. 8 INDVIK
Terms in this set (29)
top management's decisions pertaining to the organizations mission, overall strategy, and structure.
A plan that indicates in which industries and national markets an organization intends to complete
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 of action to improve the ability of each of an organizations functions to perform its task-specific activities in ways that add values to an organizations goods and services.
the intended duration of a plan
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.
the development of a set of corporate, business, and functional strategies that allow an organization to accomplish its mission and achieve its goals
a planning exercise in which managers identify organizational strengths and weaknesses and environmental opportunities and threats.
permanent, ongoing, intense competition brought about in an industry by advancing technology or chaining customer tastes
driving the organizations costs down below the costs of its rivals
distinguishing an organizations products from the products of competitors on dimensions such as product design, quality, of after-sales service
focused low-cost strategy
serving only one segment of the overall market and trying to be the lowest cost organization serving that segment
focused differentiation strategy
serving only one segment of the overall market and trying to be the most differentiated organization serving that segment.
concentration on a single industry
reinvesting a companys profits to strengthen its competitive position in the current industry
expanding a companys operations either backward into an industry that produces inputs for its products of forward into an industry that uses, distributes, or sells its products
expanding a company business operations into a new industry in order to produce new kinds of valuable goods or services
entering a new business or industry to create a competitive advantage in one ore more of an organizations existing divisions or businesses.
performance gains that result when individuals and departments coordinate their actions
entering a new industry or buying a company in a new industry that is not related in any way to an organizations current business or industries
selling the same standardized product and using the same basic marketing approach in each national market
customizing products and marketing strategies to specific national conditions
marketing products at home and selling them abroad
selling products at home that are made abroad
an agreement in which managers pool or share their organizations resources and know how with a foreign company, and the two organizations share the rewards and risks of starting a new venture
a strategic alliance among two or more companies that agree to jointly establish and share the ownerships of a new business
wholly owned foreign subsidiary
production operations established in a foreign country independent of any local direct involvement
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