Strategic Management & Macro-Environment Lecture Flashcards

Vocabulary terms and definitions covering external analysis, global supply chain shifts, demographic changes, and economic concepts from the lecture.

Just in Time Strategy

An inventory management approach relying on seamless global trade where firms keep minimal inventory tied up in cash, assuming suppliers can deliver needed inputs reliably at any time.

Just in Case Strategy

An inventory strategy where firms utilize cash to build larger inventory buffers to prepare for supply chain disruptions caused by decreasing globalization stability.

Macro Analysis (The Pond)

The broadest tier of external environmental analysis examining large-scale macro factors such as PESTED dimensions.

Industry Analysis (The Lily Pad)

The intermediate level of external analysis evaluating the specific industry environment in which a firm operates.

Firm Analysis (The Frog)

The internal level of analysis focusing on the specific capabilities and strategy of an individual company.

Replacement Birth Rate

The threshold average of $2.1$ children per woman required in a human population to prevent natural population decline.

Attention Economy

A media business model where user engagement serves as the central currency to gather personal data, allowing media firms to package and sell audiences to advertisers.

Baby Boom Generation

The demographic cohort born between $1947$ and $1966$ whose entry into retirement shifts capital from growth seeking to capital protection, contributing to higher capital costs.

Hofstede's Uncertainty Avoidance

A cultural dimension measured on a scale from $0$ to $100$ that assesses a society's tolerance for ambiguity, in which Greece held a score of $100$ based on $2015$ data.

China's Innovation Playbook

An economic framework featuring state and regional government intervention, low-interest funding without equity loss, forced inter-firm collaboration, and funding multiple market competitors simultaneously.

Cobalt

A crucial mineral for battery charge retention and lifespan, $50\%$ of which is produced in the Democratic Republic Of The Congo.