Unit 2 Section B Flashcards
(30 cards)
Boston Matrix
A tool that categorizes products by market growth and share to guide investment decisions.
Boston Consulting Group (BCG) Matrix
A model dividing products into Stars, Cash Cows, Question Marks, and Dogs for strategic planning.
Strategic Management
The process of planning and executing strategies to achieve long-term business goals.
Product Portfolio
A company’s complete range of products or services.
Business Units
Independent divisions within a company that manage specific products or services.
Market Position
A product’s or company’s rank in the market compared to competitors.
Market Growth Rate
The speed at which a market or industry is expanding.
Relative Market Share
A product’s market share compared to the largest competitor’s share.
Stars
High-share products in a fast-growing market that require investment to maintain growth.
Cash Cows
High-share products in a slow-growth market that generate consistent profits.
Question Marks
Low-share products in a fast-growth market that need investment to grow or fail.
Dogs
Low-share products in a slow-growth market with little profit potential.
Strategic Directions
Planned business paths to achieve long-term goals like growth or stability.
Visual Representation
A chart, diagram, or graph used to display information clearly.
Managers
People responsible for planning and overseeing business operations.
Investment Strategies
Plans to allocate resources to maximize returns or support business goals.
Strategic Model
A framework to help businesses make structured decisions and allocate resources.
Growth Trajectory
The direction and pace of a company’s growth over time.
Competitive Edge
An advantage that helps a company outperform its rivals.
Marketing
Activities to promote, price, and sell products to meet customer needs.
Research and Development
Processes for creating or improving products through innovation.
Innovation
The creation or improvement of products, services, or methods.
Profitability
A business’s ability to earn more revenue than its expenses.
Returns
The profit or loss gained from an investment.
