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Begriffe Flashcards

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1
Q

Porters Diamond Framework

A

used to explain national competitive advantage. It is analysing why some nations are outperforming others in specific industry

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2
Q

Greenfield operation

A

involve building new plants and facilities from scratch

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3
Q

Global standardization

A

the ability to use standardized marketing messaging and campaigns across markets, countries, and cultures.

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4
Q

Multidomestic strategy

A

an international marketing approach that chooses to focus advertising and commercial efforts on the needs of a local market rather than taking a more universal or global approach.

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5
Q

Transnational strategy

A

a plan of action whereby a business decides to conduct its activities across international borders. This strategy is invested in overseas operations and assets, connecting them to every nation in which the company operates.

choose the production country with the lowest costs

metric structure difficult to implement because of organizational complexity

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6
Q

multinational enterprise

A

is an enterprise producing goods or delivering services in more than one country

aces low pressure for both local responsiveness and cost reduction

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7
Q

International strategy

A

xporting or importing goods and services while maintaining a head office or offices in their home country

a firm sells the same products or services in both domestic and foreign markets. This strategy is advantages when the multinational enterprise faces low pressure for both local responsiveness and cost reduction

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8
Q

CAGE distance framework

A

identifies Cultural, Administrative, Geographic and Economic differences or distances between countries that companies should address when crafting international strategies. It may also be used to understand patterns of trade, capital, information, and people flows.

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9
Q

winners curse

A

the party who wins an auction of a commodity of uncertain value with a fair number of bidders typically pays more than the asset is actually worth.

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10
Q

Managerial hubris

A

form of self delusion in which managers convince themselves of their superior skills in the face of clear evidence to the contrary

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11
Q

Horizontal integration

A

a business strategy in which one company acquires or merges with another that operates at the same level in an industry. Horizontal integrations help companies grow in size and revenue, expand into new markets, diversify product offerings, and reduce competition.

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12
Q

Backward integration

A

Backward integration is a form of vertical integration in which a company expands its role to fulfill tasks formerly completed by businesses up the supply chain. In other words, backward integration is when a company buys another company that supplies the products or services needed for production.

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13
Q

forward integration

A

Forward integration is a business strategy that involves a form of downstream vertical integration whereby the company owns and controls business activities that are ahead in the value chain of its industry, this might include among others direct distribution or supply of the company’s products.

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14
Q

credible commitment

A

commitment in an international strategic alliance concerns a partner’s intention to continue in a relationship and if a partner intends to continue in the relationship and put effort for maintaining the alliance

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15
Q

break-even analysis

A

break-even analysis is a financial calculation that weighs the costs of a new business, service or product against the unit sell price to determine the point at which you will break even. In other words, it reveals the point at which you will have sold enough units to cover all of your costs

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16
Q

real option perspective

A

real option gives a firm’s management the right, but not the obligation to undertake certain business opportunities or investments. Real option refer to projects involving tangible assets versus financial instruments. Real options can include the decision to expand, defer or wait, or abandon a project entirely.

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17
Q

Cost leadership

A

Cost leadership is a business-level strategy employed by companies who wish to gain a competitive advantage by being the lowest-cost producer of a service, production process, or commodity.

is fairly well isolated from threats of powerful suppliers to increase input prices, because it is more able to absorb price increases by accepting lower profit margins

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18
Q

A hostile takeover

A

A hostile takeover occurs when an acquiring company attempts to take over a target company against the wishes of the target company’s management. An acquiring company can achieve a hostile takeover by going directly to the target company’s shareholders or fighting to replace its management.

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19
Q

related linked strategy

A

occurs when a firm moves into a new industry that has important similarities with the firm’s existing industry or industries. Because films and television are both aspects of entertainment, Disney’s purchase of ABC is an example of related diversification.

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20
Q

Unrelated diversification

A

Unrelated diversification occurs when a company enters an industry that bears no significant resemblance to the company’s current industry or industries. Unrelated diversification can help SBU businesses balance their cash flows.

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21
Q

Dogs

A

hold small market share in a low-growth market, low unstable earnings combined with neutral or negative cash flows

-> havest or divest

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22
Q

cash cows

A

a product or strategic business unit within the organisation’s mix which is characterised by high market share and low market growth; a Cash Cow produces the revenue required to develop and support less successful or newer products.

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23
Q

Question mark

A

low market share
high growth market
earnings. low unstable growing

-> hold or increase market share

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24
Q

stars bcg

A 
earnings: high, stable, growing
cash flow: neutral
relative market share. high
market growth high
-> hold or invest for growth
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25
SBU
strategic business units
26
A Research Strategy
is a step-by-step plan of action that gives direction to your thoughts and efforts, enabling you to conduct research systematically and on schedule to produce quality results and detailed reporting.
27
Human asset specific
It is the management of employees as assets, combining many conceptual elements of an employee's life cycle through an organization focusing on that people are a company's most important assets.
28
Physical-Asset Specificity
Equipment and machinery that produce inputs specific to a particular customer or are specialized to use an input of a particular supplier are examples of physical asset specificity.
29
Corporate acquisition
Acquisition strategy involves finding a methodology for the acquisition of target companies that generates value for the acquirer. The use of an acquisition strategy can keep a management team from buying businesses for which there is no clear path to achieving a profitable outcome.
30
licensing
The term licensing agreement refers to a legal, written contract between two parties wherein the property owner gives permission to another party to use their brand, patent, or trademark.
31
Franchising
Franchising is a contractual relationship between a licensor (franchisor) and a licensee (franchisee) that allows the business owner to use the licensor's brand and method of doing business to distribute products or services to consumers.
32
Joint venture
A strategic joint venture is a business agreement between two companies that make the active decision to work together, with a collective aim of achieving a specific set of goals and increasing each company's bottom line.
33
in house
considering you are hiring from within, the organization is able to manage its team and control processes more easily. In contrast, outsourcing increases the amount of time that the consultant would need to understand the issue and the way the organization and the team works, reducing team control.
34
R&D
An R&D strategy is defined a coherent set of interrelated choices across decision concerning: organizational architecture, processes, people, and project portfolios.
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Incumbent firms
Incumbent firms are businesses already established in each market or industry. Advantages. Established firms can achieve internal economies of scale which lower long run average cost and make them more competitive in price terms against potential rivals.
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INCREMENTAL INNOVATION
With Incremental Innovation, the new products are only slightly better than previous product or service versions and only in small changes to existing product formulations or service delivery methods.
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DISRUPTIVE INNOVATION
Disruptive innovation refers to the process of transforming an expensive or highly sophisticated product, offering, or service into one that is simpler, more affordable, and accessible to a broader population.
38
threat of retaliation
Retaliation occurs when an employer takes an “adverse action” against an employee because s/he engaged in a protected activity. An adverse action is an action taken by the employer to try to punish an employee for engaging in protected activity or discourage further engagement in such activities.
39
Cooperate business strategy
how to compete A corporate strategy entails a clearly defined, long-term vision that organizations set, seeking to create corporate value and motivate the workforce to implement the proper actions to achieve customer satisfaction.
40
Business strategy
how
41
Functional strategy
A functional strategy is the approach a business functional takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity. It deals with a relatively restricted plan that provides the objectives for a specific business function.
42
Intended strategy
top-level executives design a intended strategy -> the outcome of a rational structured, top down strategic plan
43
PESTEL analysis .
allows scanning, monitoring, and evaluating of changes and trends in a firm's macro environment PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry.
44
SWOT analysis
A SWOT analysis is a compilation of your company's strengths, weaknesses, opportunities and threats. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision.
45
VRIO
VRIO is an acronym for a four-question framework focusing on value, rarity, imitability, and organization, the criteria used to evaluate an organization's resources and capabilities.
46
functional strategy
each functional manager is responsible for decisions and actions within a single functional area. (accounting, resources, product development,..
47
firms internal weakness in context of SWOT
decline in market share
48
accounting data
historical data and backward looking
49
return to shareholders
external performance metric
50
balanced-score card approach
is popular in managerial practice because it has several advantages. Allows managers to translate a firm's vision into measurable operational goals.
51
bundling business
sells products or services for which demand is negatively correlated at a discount. In bundles.
52
freemium business model
basic features of a product or services are provided for free, but the consumer must pay for premium services
53
razor blade business model
The razor and blades business model is a business model in which one item is sold at a low price (or given away for free) in order to increase sales of a complementary good, such as consumable supplies.
54
What Is a Subscription Business Model?
Subscription business models are based on the idea of selling a product or service to receive monthly or yearly recurring subscription revenue. They focus on customer retention over customer acquisition
55
Pay-as-you-go
Pay-as-you-go is a pricing model that allows customers to pay for usage of a service as opposed to a recurring service fee. This may appeal to customers who are infrequent or temporary users of a service
56
minimum efficient scale
) is the lowest point on a cost curve at which a company can produce its product at a competitive price. At the MES point, the company can achieve the economies of scale necessary for it to compete effectively in its industry.
57
optimum sustainable yield
is the level of effort (LOE) that maximizes the difference between total revenue and total cost. Or, where marginal revenue equals marginal cost. This level of effort maximizes the economic profit, or rent, of the resource being utilized.
58
radical innovation
draws on model methods or materials is derived either from entirely different knowledge bases or from recombing existing knowledge bases with a new stream of knowledge, or targets new markets by using new technologies
59
real-options perspective
allows firms to obtain additional information at a predetermined stage. after each stage where information is released firms decide to make further investments.
60
cage distant framework: WHen does administrative and political distance increase?
absence of trading
61
convergence
is the process by which formerly unrelated industries begin to satisfy the same customer need.
62
isolating mechanism?
uncertainty about future resource value causal ambiguity path dependency social complexity
63
Time compression diseconomies
attempting to get a good outcome in less time tends to be ineffective
64
Causal ambiguity
describes a situation where the cause and effect of a phenomenon are not readily apparent
65
triple bottom line
a combination of economic, social, and ecological concerns that lead to a sustainable strategy. 1. profits 2. people 3. planet
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agency
producer relies on agent to sell products at a predetermined percentage commission
67
Microsoft
- once leading tech company - is now falling behind - biggest challenge facing windows and office - > once cash cows now declining still most of revenues and profit
68
lego turnaround mini case
- faced up and downs - computer revolution -> faced decreasing popularity - started hyper innovating and diversified too many areas - 2003 verge of bankruptcy - hired kundstorp as an CEO - profitable "back to brick" - needs to strengthen its triple bottom line, address globilazation, ecological concerns, become bigger in emergent markets
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business level strategy
details the goal directed manager takes in their quest for competitive advantage when competing in a single product market. who which costumer what costumer needs why do we want to satisfy them how will we satisfy them
70
learning curve
downward sloping, takes less time to produce something as we learn how to be more efficient -the steeper curve the more we learned
71
value curve
horizontal connection of the points of each value on the strategy canvas that helps strategic leaders diagnose
72
jet blue airways
- achieved competitive advantage based on value innovation - was able to drive up perceived customers while lowering costs - created blue ocean not competing directly with other airlines - unablöe to sustain competitive sdvnsthe - failing blue ocean -> stuck in the middel
73
amazon trim the fat at whole foods?
- whole foods' mission: organic food, highest quality - > blue ocean but high cost -> stuck in the middle - some items overweight -> consumers paid more - now offers volume discounts - now products at a lower price - amazon acquired wholefoods -> amazon continues vertical integration - largest investment in the grocery business - want to expand in other sectors - Amazon can compete with Walmart
74
Netflix disrupting the TV industry
- invented online retail for DVD -> struggled the first year -
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the innovation process
1. idea 2. invention 3. patent 3. innovation -> commercialisation 4. imitation -> competitors will try to imitate
76
entrepreneurs
agents who introduce change into the competitive system
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industry life cycle introduction stage
1. market size small, slow growth, barriers to entry high | - > achieve market acceptance and further grow
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industry life cycle growth stage
1. has gained market acceptance, demand increases rapidly, size of market expands, economies of scale and learning,
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industry life cycle maturity stage
- only a few firms left _> forms into an oligopoly - benefits from economies of scale - demand, replacement, or repeat purchases - market reached maximum size
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decline stage industry life cycle i
4 Options 1. harvest: reduces investments in product support and -> to maximizes cash flow from their existing product line 2. consulate: firms buy rivals to consulate its power, possible approaching a monopolistic power
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crossing the chasm framework
shows how each stage of the industry life cycle is dominated by a different customer group 1. technology enthusiasts: innovation stage 2. early adopters: growth stage (buy early into technology) 3. the chasm: strong barrier between early adopter and early majority (firm that fails couldn't cross the chasm) small chasm between each stage 4. early majority: shakeout stage -> what can the new technology do for them (check reviews and cost) 5. late majority: maturity stag, large market segment, prefer to buy from established firms 6. Laggards, declining stage: adapt product only if it is absolutely necessary
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incremental innovation
most common | - nuilds on establish knowledge improve existing product or service
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radical innovation
- derived from entirely different knowledge or form existing knowledge with new stream of knowledge -> targets new markets
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architectual innovation
a new product, based on existing technology | -> attack new markets
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disruptive innovation
leverages new technologies to attack the existing market from button up
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pipeline business model
firms activities start with raaw materials and end with retailing and after sale service. linear view
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platform business
creates value by matching external producers and consumers in a way that creates value for everyone - scale more efficiently rapid growth of resources - unlock new sources of value creation and supply - benefits from community feedback
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house of cards chapter case
- first big TV show produced and streamed by Netflix - asses : created phenomena of binge watching - success but still some points - seamless bug-free viewing experience - create and stustai9n future growth
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mini case Wikipedia
free online multi-language encyclopedia - exclusively financed by - not experts writing - not reliably
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corporate strategy
covers decisions senior managers make and goals directed actions it takes to gain competitive advantge
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single business diversification
low level of diversification
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disney : bulding a million dollar franchise
acquired multiple firms really good Pixar deal, first strategic alliance acquired marvel challenges: 1. risk on relying on a few big franchises 2. losing originality 3. tv side is declining half of Disney's profits 4. underperforming acquisitions 5. issues of succession disney has no heir apparent

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