The term ’corporate strategy' concerns strategy and strategic decisions:
At all levels in an organisation.
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A key characteristic of strategic decisions is that
they are likely to be concerned with, or affect, the long-term direction of an organisation
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Identification of what 'helps managers to focus on the environmental factors that are most important and which must be addressed most urgently'?
Key drivers for change
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What is meant by the term 'SBU'?
Strategic business unit
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It is possible to identify different levels of strategy in an organisation; these are:
Corporate; strategic business unit; and operational.
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What term is used for the 'long-term direction of an organisation'?
Strategy
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What term is used for a situation where early events and decisions establish policy paths that have lasting effects on subsequent events and decisions?
Path dependency
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What term is used for M&A integration in which it is implied that both the acquired firm and the acquiring firm learn the best qualities from the other?
Symbiosis
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In the context of strategic alliances, what is meant by the term 'collaborative advantage'?
The result of managing alliances better than competitors
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When using PESTEL it is easy to get overwhelmed by a multitude of details. Instead, it is important to step back and identify the:
key drivers for change
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Strategic choices require an understanding of:
The underlying bases for future strategy at business-unit and corporate levels; and the options for developing strategy in terms of directions and methods of development.
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A film company and a music recording company may choose to combine, believing that the result will be more effective than the sum of the two component parts. What term is used for the benefits?
Synergy
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Best-in-class benchmarking seeks to assess organisational performance against:
the competitor who is ’best inclass’ wherever that may be.
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Core competences are the skills and abilities by which resources are deployed through anorganisation’s activities and processes such as to:
Achieve competitive advantage in ways that others cannot imitate or obtain.
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Who shapes and communicates strategy?
Managers at all levels and specialist strategists
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What is defined as 'a group of customers who have similar needs that are different from customer needs in other parts of the market'?
Market segment
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What term is used for two or more organisations sharing resources and activities to pursue a strategy?
Alliance
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What term is used for something that 'creates substantial growth by offering a new performance trajectory that, even if initially inferior to the performance of existing technologies, has the potential to become markedly superior'?
Disruptive innovation
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The four major players in a particular industry have all recently spent large sums reducing the environmental impact of their factories. What is the probable result of this on the competitive attractiveness of the industry for the players within it?
The industry would be more attractive because costs of entry have increased.
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What term is used for an organisation's abilities to renew and recreate its strategic capabilities to meet the needs of a changing environment?
Dynamic capabilities
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What name is given to the purchase of components and services from the most appropriate suppliers around the world regardless of location?
Global sourcing
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A competitor finds it difficult to identify the basis for an organisation's competitive advantage. What term is used for this situation?
Causal ambiguity
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The Royal Bank of Scotland's consortium competed with Barclays Bank to acquire the Dutch bank ABN AMRO: the Royal Bank of Scotland won, but the excessive price of '70bn (~$98bn) soon drove the victor into financial collapse and government ownership.
Winner's curse
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What name is given to the process of divulging information to outside bodies when a person believes that their organisation is failing in its corporate social responsibility?
Whistle-blowing
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What term is used for the process by which innovations spread among users?
Diffusion
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Other cards in this set
Card 2
Front
A key characteristic of strategic decisions is that
Back
they are likely to be concerned with, or affect, the long-term direction of an organisation
Card 3
Front
Identification of what 'helps managers to focus on the environmental factors that are most important and which must be addressed most urgently'?
Back
Card 4
Front
What is meant by the term 'SBU'?
Back
Card 5
Front
It is possible to identify different levels of strategy in an organisation; these are:
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