Strategic Direction and Decision Making in Business

0.0(0)
studied byStudied by 0 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Get a hint
Hint

Strategic direction describes how a business plans to get where it wants to be in the __.

Get a hint
Hint

long term

Get a hint
Hint

__ is a decision making tool published in the Harvard Review in 1957.

Get a hint
Hint

Ansoff's Matrix

Card Sorting

1/13

Anonymous user
Anonymous user
flashcard set

Earn XP

Description and Tags

Flashcards based on lecture notes about strategic direction in business, Ansoff's matrix, and financial decision making.

Finance

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

14 Terms

1
New cards

Strategic direction describes how a business plans to get where it wants to be in the __.

long term

2
New cards

__ is a decision making tool published in the Harvard Review in 1957.

Ansoff's Matrix

3
New cards

Trying to take a greater share of an existing market with an existing product is known as __.

Market Penetration

4
New cards

Extending existing products within existing markets is known as __.

Product Development

5
New cards

Finding or creating new markets for existing products is known as __.

Market Development

6
New cards

Creating new product lines or ranges for sale in new markets is known as __.

Diversification

7
New cards

Focusing attention on maintaining market share is known as __.

Consolidation

8
New cards

Selling off all or parts of the business is known as __.

Withdrawal

9
New cards

Market development involves the extension of a product into __.

new markets / areas

10
New cards

__ may undergo substantial modifications or additions to maintain a competitive position.

Product development

11
New cards

Moving into new but related markets or into new unrelated markets is known as __.

Diversification

12
New cards

Profits and efficiency gains are examples of __ of decision making.

Financial benefits

13
New cards

__ and increased market share are examples of non-financial benefits of decision making.

Productivity

14
New cards

Environmental impact and carbon emissions reduction are __ of decision making.

Public benefits