Lesson 5 - Talking About Company Strategy Flashcards
a company that doesn’t come up with new ideas or concepts first, but rather quickly copies those of other companies
FAST FOLLOWERS
Many PC manufacturers don’t spend much on R&D. They are fast followers, waiting for competitors to innovate and then quickly copying their products.
very modern
using the latest technologies
CUTTING EDGE
Sony focuses on innovation and is known for its cutting-edge electronic goods.
Why start doing things differently when the way we’re doing them now is working?
WHY MESS WITH SUCCESS?
We could move our manufacturing plant to China, but we’re doing very well manufacturing in the United States. Why mess with success?
to pay attention to what’s going on right now
to be alert to what’s happening now
GET WITH THE PROGRAM
Get with the program. Our competitors have all started to outsource their call centers to India to save money, while we’re still paying a fortune here in the United States!
a product, service, or business division that generates a lot of cash for the company, without requiring much investment
CASH COW
With strong sales every year and a great brand name, Mercedes is a cash cow for DaimlerChrysler.
goods that are extremely similar to another company’s products
copies
ME-TOO PRODUCTS
Procter & Gamble is a company famous for innovation. They rarely produce me-too products.
to get ahead of your rivals
LEAPFROG ONE’S COMPETITORS
Logitech introduced a product that leapfrogged its competitors: a mouse that was both wireless and ergonomic.
as a first step
to begin with
FOR STARTERS
You want to do business in Russia? For starters, I’d recommend setting up an office in Moscow.
to improve
to add to
TO BEEF UP
Leave plenty of extra time at the airport. Ever since they beefed up security, it takes a long time to get through the lines.
at a high price
AT A PREMIUM
When flat-screen televisions first came out, they were selling at a premium.
to get agreement or approval from
TO GET BUY-IN FROM
To be an effective leader, you need to get buy-in for your decisions from employees throughout the organization.
to be in agreement
when everybody has the latest information
on what’s going on
TO BE ON THE SAME PAGE
Before we start on the next phase of this project, let’s have a meeting and make sure everybody’s on the same page.
