Strategic Business Vocabulary Flashcards
(15 cards)
Strategic move
A carefully planned action to gain advantage Example: Acquiring the startup was a strategic move to expand our tech capabilities.
Weigh the pros and cons
Consider the positive and negative sides of a decision Example: We must weigh the pros and cons before launching the new product.
Competitive edge
An advantage over rivals Example: Our eco-friendly packaging gives us a competitive edge.
Long-term gains
Benefits that become apparent over time Example: We’re investing heavily now, aiming for long-term gains.
Pivot
To change strategy or direction Example: After the pandemic hit, they pivoted to a fully online model.
Stakeholders
People affected by or involved in decisions Example: We need to get stakeholder approval before moving forward.
Market share
A company’s portion of sales in a market Example: Their new app helped them gain significant market share.
Value proposition
The value a company promises to deliver to customers Example: Our value proposition focuses on premium quality at affordable prices.
Risk appetite
The level of risk an organization is willing to take Example: Our risk appetite has grown as the market has stabilized.
Cost-benefit analysis
A process of comparing costs and benefits before a decision Example: Let’s run a cost-benefit analysis before allocating resources.
Core competency
A company’s main strength or strategic advantage Example: Our core competency is customer experience and after-sales support.
Disrupt the market
To radically change an industry with innovation Example: Their business model could disrupt the market if successful.
Go-to-market strategy
The plan for launching a product or service Example: We’re finalizing our go-to-market strategy for the new software.
Due diligence
Careful investigation before a major business move Example: We conducted due diligence before signing the acquisition deal.
Scalable
Able to grow or expand efficiently Example: The platform is scalable and can handle rapid user growth.
