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16 Cards in this Set
- Front
- Back
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what is strategic management? |
A set of managerial decisions and actions that determine the performance of a corportation |
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Strategic management includes what? |
Internal and external scanning Strategy formulation & implementation evaluation and control
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What are the phases of Strategic management? |
Financial planning Forecast - based planning Externally oriented strategic planning strategic management |
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what is globalization? |
The integration and internalization of markets and corporations. |
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What is population ecology? |
organizations cannot adapt change |
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what is Institution theory |
adapt by copying other organizations |
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Meaning of strategic choice perspective |
organizations adapt to change and have the ability to reshape their environment |
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What are the elements of strategic management? |
environmental scanning strategy formulation strategy implementation evaluation and control |
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What is environmental scanning? |
Monitoring and evaluation of information from external and internal environments to key people within an organization. |
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What is strategy formulation? |
is the process of developing a strategy |
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Mintzberg's Modes of strategic decision making |
Entrepreneurial adaptive planning |
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Forecasting is based on what? |
A set of assumptions |
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Business strategy is compressed of What? |
Competitive, and cooperative |
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Porters competitive strategies are? |
Lower cost strategy Differentiation strategy |
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What is differentiation strategy? |
the creation of a product that is perceived to the industry as unique. |
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What is cost strategy? |
a lower competitive strategy that aims at the broad mass market and requires reductions, cost overhead and control. |
