front 1 Strategic planning | back 1 long-range (3-5 years) planning that focuses on the organization as a whole |
front 2 Commitment Principle | back 2 managers should commit funds for planning only if they can anticipate, in the foreseeable future, a return on planning expenses as a result |
front 3 Strategy | back 3 broad & general plan developed to reach long-term objectives; end result of planning |
front 4 Strategic management | back 4 process of ensuring that an organization possesses and benefits from the use of an appropriate organizational strategy |
front 5 Environmental analysis | back 5 study of the org environment to pinpoint environmental factors that can significantly influence operations |
front 6 General environment | back 6 external components w/ broad, long-term implications for managing org |
front 7 economic environment | back 7 indicates how resources are being distributed & used within environment |
front 8 social environment | back 8 describes characteristics of society in which the organization functions |
front 9 economics | back 9 understanding how ppl produce, distribute, & use various goods & services |
front 10 social values | back 10 relative degrees of worth society places on the ways in which it exists & functions |
front 11 industry environment | back 11 external components w/ specific & immediate implications for managing |
front 12 Five Forces Model | back 12 outlines forces that determine competitiveness within an industry& illustrates how those forces are related |
front 13 internal environment | back 13 exists inside the org & has immediate & specific implications for managing |
front 14 competitive capability | back 14 resources & ability a firm has to undertake an action |
front 15 competitive dynamics | back 15 how a firm undertakes strategic & tactical​ actions, & competitors' responses to those​ actions, is referred |
front 16 Mission statement | back 16 written doc developed by management that describes & explains the mission |
front 17 Strategy formation | back 17 process of determining appropriate courses of action for achieving objs & accomplishing the org purpose |
front 18 Critical question analysis | back 18 answering basic questions about the present purposes & objs of the org, its present direction & environment, & actions that can be taken to achieve objs |
front 19 Business portfolio analysis | back 19 orgs should develop strategy much as they handle investment portfolios (support sound investments & disregard unsound ones) |
front 20 Strategic business unit | back 20 significant org segment that is analyzed to develop org strategy aimed at generating future business or revenue |
front 21 Star | back 21 large share of a high-growth market & needs large $$$ to support rapid growth |
front 22 Cash cow | back 22 large share of a market that is growing only slightly |
front 23 Question mark | back 23 small share of a high-growth market |
front 24 Dog | back 24 relatively small share of a low-growth market |
front 25 Growth | back 25 increase the amount of business an SBU is generating |
front 26 Stability | back 26 maintain/slightly improve the amount of business that an SBU is generating |
front 27 Retrenchment | back 27 strengthen or protect the amount of business an SBU is currently generating |
front 28 Divestiture | back 28 eliminate an SBU that is not generating a satisfactory amount of business & has little hope of doing so in the near future (sell or close down the SBU) |
front 29 Strategy implementation | back 29 putting formulated strategies into action |
front 30 Allocating skill | back 30 provide the resources necessary to implement a strategy |
front 31 Monitoring skill | back 31 use info to determine whether a problem has arisen |
front 32 Organizing skill | back 32 create a network of ppl who can help solve implementation problems |
front 33 Strategic control | back 33 monitoring & evaluating the strategic management process as a whole to ensure that it is operating properly |
front 34 Tactical planning | back 34 short-range (<1 year) planning that emphasizes current operations of parts of an org |