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Flashcards in Strategy & Globalization (M42) Deck (26)
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1

These are conditions that threaten management's ability to execute strategies and achieve the firm's objectives

Business Risks

2

What are the general environment factors? (6)

1) Economic
2) Demographic
3) Political & Legal
4) Sociocultural
5) Technological
6) Global

3

This is a set of factors that influence the firm's competitive actions

Industry Environment

4

What are the 5 forces in the Porter model for industry analysis?

1) Competitors
2) Potential Entrants into the Market
3) Equivalent Products
4) Bargaining Power of Customers
5) Bargaining Power of Input Suppliers

5

Inflation rates are what type of general environment factor

Economic

6

Population size is what type of general environment factor

Demographic

7

Antitrust laws, tax laws, and deregulation philosophies are what type of general environment factor

Political & Legal

8

Workforce Diversity is what type of general environment factor

Sociocultural

9

This is a market where only one buyer exists for all sellers

Monopsony

10

The power of customers determines the firm's ability to increase prices or lower quality of their products

Bargaining Power of Customers

11

The power of suppliers affects a firm's ability to negotiate price or quality concessions

Bargaining Power of Suppliers

12

This sets forth the purpose of an organization, including its distinguishing characteristics

Mission

13

This sets forth where the organization would like to be in the future

Vision

14

This is used to develop strategies to minimize risks and take advantage of major opportunities

SWOT Analysis

15

The simple regression formula is as follows:

y = a +bx

What does 'y' stand for?

The dependent variable

16

The simple regression formula is as follows:

y = a +bx

What does 'a' stand for?

The y-axis intercept

17

The simple regression formula is as follows:

y = a +bx

What does 'b' stand for?

The slope of the line

18

The simple regression formula is as follows:

y = a +bx

What does 'x' stand for?

The independent variable

19

What are the two target scopes for generic business strategies, as dictated by Porter?

1) Broad (Industry-Wide)
2) Narrow (Market Segment)

20

What are two advantages a company can have in their products?

1) Low Cost
2) Product Uniqueness

21

How can a company differentiate their product?

1) Physical Characteristics
2) Perceived Differences (brand name)
3) Support Service Differences

22

This is the sharing of key information from the point of sale to the final consumer back to the manufacturer, the manufacturer's suppliers, and the supplier's suppliers

Supply Chain Management

23

This involves contracting for the performance of processes by other firms

Outsourcing

24

When given a regression analysis problem, Adjusted R Squared measures what?

The percent of the variance in the dependent variable explained by the independent variable

25

When given a regression analysis problem, Multiple R measures what?

the Coefficient of Correlation

26

What is the simple regression formula?

y = a + bx