Chapter 1 Flashcards
Strategy
Unifying theme that gives coherence and direction to the actions and decisions of an ind. or an org.
Strategic fit
Link between the firm and the internal and external env.
Strategy
Overall plan for deploying resources to establish a favourable position
Tactic
Scheme for a certain action
Corporate str
Defines the scope of the firm in terms of the industries and markets in which it competes,responsibility of the top management team and the corporate str.staff,allocation of resources among the market
Business str.
How a firm competes within a particular industry or market,responsibility of divisional mng,establishing a competitive adv
H.M-intended str.
As conceived by the top mng team
H.M-realized str.
The actual str that is implemented
H.M-emergent str
The decisions that emerge from the complex processes in which individual managers interpret the intended str and adapt to changing external circumstances
Planned emergence
Combination of design and emerganc
Mission statement
Why we exist
Statement of principles/values
What we believe in and how we will we behave
Vision statement
What we want to be
Strategy statement
What our competitive game plan should be,must comprise of objective,scope and advantage of the company
Bounded rationality
Cognitive limitations that constrain all human beings
Strategic intent
Articulation of desired leadership position
