The
senior management responsibility for defining the firm's
mission, formulating strategies and guiding long&-term
organizational activities consistent with internal and external
conditions.
A
disciplined effort to produce the fundamental decisions and
actions that must be taken today to shape the long&-term
direction of an organization.
A
situation analysis that examines external factors and internal
conditions of an organization to identify strengths, weaknesses,
opportunities and threats.
Also
called the portfolio&-level decisions for acquisitions,
mergers, major expansions, and divesture that add to or reduce
product lines.
Managers
focus on well defines business lines or divisions of services to
determine how to compete in their respective industries.
A
major subunit or group at the strategic level of a large,
complex firm. SBU's provide a focus on related services,
products, markets, customers, or technologies to improve
management and decision making.
Carried
out by executives in functional areas, these strategies support
business&-level decisions to introduce new technologies,
develop new products, open new markets, or implement functional
action plans to help the firm complete effectively.
Strategies
formulated by managers through their planning efforts to explain
how the company will achieve its objectives.
The
deliberate execution of strategies that achieve objectives
through incremental activities defined in policies, programs,
projects, budgets, procedures, and rules.
An
examination of industry structure, economics, competitive
forces, and other external factors and internal conditions
essential for strategic planning.
A
systematic approach to evaluating a company's competitive
position relative to its industry and economic power in society.
Also
called grand strategic, these define in broad terms the long&-terms
direction of an organization.
A
growth strategy is the expansion of sales achieved either
through marketing existing products more aggressively or through
pursuing new products or new markets.
Companies
integrate either backward or forward to stabilize supply and
distribution lines, often reducing costs or securing raw
materials or markets related to the firm's products.
Expanding
into new products, markets, or technologies to deploy a
company's assets more effectively.
A
strategy of "regrouping" usually through
consolidation, to retreat from an overexpanded position.
A
strategy of trading on a distinctive competency to prevail in
one product, market, or technology.
A
strategy to gain control of resources, supplies, or distribution
systems that relate to a company's business.
A
strategy to acquire similar products or services in order to
reduce competition: or to improve the firm's product mix or
market coverage.
A
specific choice of growing by adding new products, either
through internal development or acquisitions.
A
method of growing by positioning existing products or services
in new markets or for sale to new customers.
A
growth strategy achieved by developing new products or services
that complement the company's existing line of business.
A
conscious efforts to develop or acquire unrelated products,
services, or technologies, thereby reducing the risk of being in
one business subject to economic cycles or industry competition.
A
form of retrenchment in which a company retreats to a more
realistic operational position, reducing its costs and risks.
The
process of selling off divisions or subsidiaries that are either
poor performers or do not fit well with the company's long&-term
strategic objectives.
The
"final" option, liquidation is the decision to
terminate a business in a systematic way through bankruptcy or a
complete sale of the company.
