Organizational Policies Midterm Notes

Strategic combat: Achieved when a firm successful formulates & angstrom unit; implements a value creating dodge. Strategy: An integrated & arrange set of commitments and dos designed to exploit core competencies & encourage a competitive advantage. * Competitive advantage: When firm implements strategy competitors are unable to duplicate of find costly to implement. * Above- come Returns: Returns in excess of what an investor expects to earn form other investments with akin amounts of risk. * find: An investors uncertainty about the economic gain or losses that will result from a particular investment. * Average return: Return equal to those an investor expects from other investment with similar risk. * Strategic management process: Full set of commitments, decisions, and action required for a firm to achieve strategic competitiveness & earn above average returns. * Global economy: Is one in which goods and services, people, skills & ideas much freely crossways geographic boarders.

* Globalizations: Increasing economic interdependence among countries & their organizations as reflected in the f kickoffs of goods and services, financial capital, and acquaintance across boarders 3 categories of scientific trends: technological diffusion, disruptive technologies, information age and increasing knowledge intensity. Strategic flexibility: A set of capabilities used to answer to various demands & opportunities existing in a high-power & uncertain competitive environment * * * What is Strategy? * Be more than slogans, but rather translate into identifiable actions and activities. * Is concerned with military position with respect to rivals * Not be confused with operating efficiency * Should be a coordinated set of actions that run through the entire organization, not just isolated initiatives * Always involve tradeoffs (e.g., having the low prices might mean not... If you want to get a broad essay, order it on our website: Ordercustompaper.com

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