REVIEWER IN STRATEGIC MANAGEMENT

 Corporate Strategy focuses primarily on a company's overall strategic direction and the
management of its business or product portfolio.
 Mission serves as the motivation behind the organization's existence.

 Cost leadership requires "aggressive construction of efficient-scale facilities, vigorous

pursuit of cost reductions from experience, tight cost and overhead control, avoidance
of marginal customer accounts, and cost minimization in areas like R&D, service, sales
force, advertising, and so on.

 Business Strategies focuses on strengthening a company's or business unit's competitive

position in the industry or market segment that the company or business unit serves.
 Corporate parenting recognizes a company in terms of its resources and abilities that can be
used to increase the value of individual business units as well as create synergies between
them.
 Competitive describes the procedure that enables a manager to identify more effective
resource allocation strategies with the intention of raising profits.
 Corporate Culture extent to which a group's members adhere to the standards,
principles, or other cultural elements that are unique to that group.
 Resources they consist of business processes and routines that manage the interaction among
resources to turn inputs into outputs.
 Explicit knowledge is the knowledge that can be expressed and communicated with ease.
 Analyzers businesses where there is no clear relationship between strategy, structure, and
culture.
 Culture Integration the extent to which units throughout an organization share a common
culture.
 Multi Domestic Industries are kinds of international industries are a conglomeration of
largely domestic industries like retail and insurance.
 Durability is the rate at which a company's core competencies, resources, or other
assets deteriorate or become outdated.
 Full Integration when a firm internally produces less than half of its own requirements
and buys the rest from outside suppliers.

 Hypercompetition a circumstance were market instability results from intense competition.

 Defenders Businesses with a narrow product range concentrate on enhancing the
effectiveness of their current operations.
 Resources an analytical technique for producing results that are nearly flawless on a
production line.
 Competencies It involves the coordination and integration of capabilities across various
functions.
 Analyzers Corporations that engage in at least two distinct product-market segments
 Business Intelligence/ Competitive Intelligence A structured process for learning more
about rival businesses.
 Strategic Choice choosing the best alternative after evaluating alternative strategies.
 Devil’s advocate A method that they delegated a person or people to use to point out
potential pitfalls and issues with a suggested alternate strategy in a formal presentation.
 The broad principles for implementation are laid out in policies. Policies outline
decision-making and actions for the entire organization based on the chosen strategy.
 Risk composed of more than just the probability that the tactic will work not only how
much money the company must set aside for that strategy
 Hit another home run/ Losing hand are strategies that needs to be avoided
 Corporate Scenario is the pro forma that forecast the effect each alternative strategy
and its various programs will likely have on division and corporate return on
investment.
 Outsourcing is the purchasing from someone else a product or service that had been
previously provided internally.
 Logistics Strategy is a strategy that deals with the flow of products into and out of the
manufacturing process.
 Marketing Development is a strategy deals with pricing, selling, and distributing a product.
 Functional Strategies focuses on creating and fostering a unique competence to give a
business or business unit a competitive advantage.
 Strategic Formulation it is the creation of long-term plans for the efficient management of
environmental opportunities and threats (SWOT).
 Vertical growth expansion of current operations or external acquisitions are two ways
to achieve this growth.

 Balanced scorecard It combines operational measurements of customer satisfaction, internal

business processes.
 Cost focus aims to serve only a specific niche of customers or geographic market at the
expense of others.
 Environmental Scanning It is the monitoring, evaluation, and dissemination of information
from the external and internal environments to key people within the corporation
 New entrants are the threats to an established corporation
 Natural Environment An ecological system of interconnected life is formed by these
elements
 Task environment consists of the individuals or entities that have an immediate impact on
and are impacted by a corporation
 Social Responsibility suggests that a private company has obligations to society beyond just
making a profit
 Outside directors Non-management directors are another name for them.
 Corporate Governance Relates to how groups interact and how that affects the direction
and performance of the corporation.
 Entrepreneurial mode is influenced by the founder's own vision of direction.
 Directive Decisions made at the strategic level set the tone for subsequent actions and
smaller decisions across the entire organization.
 Consequential Significant resources are committed and a high level of commitment from all
parties is required for strategic decisions.
 Strategic decision it deals with the long-term future of an entire organization.
 Learning Organization An organization is proficient at knowledge creation, acquisition, and
transfer as well as behavior modification to take into account fresh information and insights.
In a fast-paced environment, it is a crucial part of competitiveness. To innovate and create
new products is especially crucial
 Sociological risk NOT a risk category that have an impact on industries and businesses
around the world as a result of climate change
 Environmental sustainability application of business practices to reduce a company's
environmental impact.
 Forecast-based planning planning is transferred from lower-level managers to planning
staff tasked with developing strategic plans for the corporation
 Basic financial planning managers gather any available environmental data, usually on an
ad hoc basis, in addition to internal information, and extrapolate current trends five years into
the future.
 Strategic management a set of managerial decisions and actions that determines a
company's long-term performance.
 Externally oriented (strategic) planning Projects are proposed with little analysis, with the
majority of information coming from within the firm.
 Discretionary voluntary management obligations that a business takes on
 Hierarchy of strategy It is the nesting of one tactic inside another so that they support and
complement one another
 Theory of population of ecology states that an organization uses knowledge offensively to
improve the fit between itself and its environment while adapting defensively to a changing
environment.
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