business leadership org

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Strategy

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A comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage.

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Strategic Intent

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Focusing all organizational energies on a unifying and compelling goal (e.g., expanding in 5 years).

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45 Terms

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Strategy

A comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage.

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Strategic Intent

Focusing all organizational energies on a unifying and compelling goal (e.g., expanding in 5 years).

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Strategic Management

The process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage.

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Corporate Strategy

Sets the long-term direction for the total enterprise.

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Business Strategy

Identifies how a division or business unit will compete in products/services.

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Functional Strategy

Guides activities within one specific area of the business.

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Corporate Strategy Level

Sets a long-term direction for the organization as a whole (e.g., Coca-Cola Company); Main Question: In what industries and markets should we compete?

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Business Strategy Level

Each business unit or product line is a strategic business unit (SBU); Main Question: How are we going to compete for customers in this industry and market?

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Functional Strategy Level

Focuses on how to effectively use resources within departments like marketing, finance, operations; Main Question: How can we best support the business strategy?

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Step 1 of Strategic Planning Process

Identify mission and objectives: Define the organization’s reason for existence and guiding values.

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Step 2 of Strategic Planning Process

Analyze internal and external environments. Identify core competencies that provide a competitive advantage.

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Step 3 of Strategic Planning Process

Formulate strategy based on mission, objectives, and environmental analysis.

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Step 4 of Strategic Planning Process

Implement the formulated strategy through organizational actions and resource allocation.

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Step 5 of Strategic Planning Process

Evaluate results and control: Monitor performance and make necessary adjustments.

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PEST Analysis

Analyzes Political, Economic, Social, and Technological external factors that impact the organization.

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P in PEST

Political factors such as political stability, trade policies, regulations, taxation, labor laws, safety regulations.

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E in PEST

Economic factors like growth, stagnation, interest and exchange rates, recession, inflation.

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S in PEST

Social factors including demographics, culture, health consciousness, population growth, education, attitudes toward work and leisure.

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T in PEST

Technological factors such as new discoveries, technological developments, and obsolescence.

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Purpose of PEST Analysis

Used to identify opportunities and threats in the external environment.

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Porter’s 5 Forces

Framework to assess industry competition: threat of new entrants, bargaining power of suppliers, bargaining power of customers, threat of substitutes, industry rivalry.

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Threat of New Entrants

Barriers include economies of scale, access to distribution, government policy, and industry experience.

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Supplier Power

Determined by number and size of suppliers, uniqueness of services, and switching costs.

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Buyer Power

Influenced by the number of customers, product importance, availability of alternatives, and switching costs.

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Threat of Substitutes

The likelihood that customers will switch to alternative products or services.

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Industry Compeition

Intensity of competition among existing firms based on price, innovation, marketing, and customer loyalty. (porters 5 forces)

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Steps in Planning Process

  1. Define objectives, 2. Determine stance, 3. Develop future premises, 4. Analyze alternatives and plan, 5. Implement and evaluate.
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Mission Statement

Defines a company’s reason for existence, aligns strategy, inspires support, and guides resource allocation.

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Growth Strategy

Seeks to increase size and expand current operations.

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Stability Strategy

Aims to maintain current operations without major changes.

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Renewal Strategy

A defensive strategy to resolve problems and improve performance.

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Combination Strategy

Pursues two or more strategies simultaneously.

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Market Development

Expands market by attracting new customers or entering new geographic markets.

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Product Development

Introduces new products or improves existing ones to meet market demands.

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Horizontal Integration

Acquiring or merging with a competitor in the same industry.

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Vertical Integration

Acquiring suppliers or distributors to control the supply chain.

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Conglomerate Integration

Acquiring businesses in unrelated industries to diversify.

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Strategic Alliances

Partnerships with another company for mutual benifit.

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E-Business Strategy

Uses the internet strategically to gain a competitive advantage.

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Brokerage Model

Brings buyers and sellers together online to facilitate transactions (e.g., carsdirect.com).

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Advertising Model

Generates revenue by offering free content or services supported by ads (e.g., Yahoo, Google).

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Merchant Model

Sells goods and services directly to consumers online (e.g., Indigo Books).

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Subscription Model

Provides paid access to content or services through memberships (e.g., NYTimes, WSJ).

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Infomediary Model

Collects user data and sells insights to businesses (e.g., ePinions).

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Community Model

Relies on user donations and participation to operate (e.g., Wikipedia).