Strategic Managment

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Across
  1. 1. of suppliers The ability of suppliers to raise the price of inputs or to raise the costs of the industry in other ways
  2. 4. theory A theory dealing with the problems that can arise in a business relationship when one person delegates decision-making authority to another.
  3. 7. barriers The economic, strategic, and emotional factors that prevent companies from leaving an industry.
  4. 8. Factors that make it costly for companies to enter an industry.
  5. 12. costs Costs that must be borne before the firm makes a single sale.
  6. 15. strategy A strategy in which a company sells off its business assets and resources to other companies.
  7. 17. Acquiring or merging with industry competitors to achieve the competitive advantages that come with large size.
  8. 19. strategy A strategy of trying to achieve a competitive advantage by creating a product that is perceived by customers as unique in some important way.
  9. 21. A specialized form of licensing in which the franchiser sells the franchisee intangible property (normally a trademark) and insists that the franchisee agree to abide by strict rules about how it does business.
  10. 22. of buyers The ability of buyers to bargain down prices charged by companies in the industry or to raise the costs of companies in the industry by demanding better product quality and service.
  11. 24. governance The mechanisms that exist to ensure that managers pursue strategies in the interests of an important stakeholder group, the shareholders.
  12. 25. An industry where demand is expanding as first-time consumers enter the market.
Down
  1. 2. Companies pursuing an international strategy centralize product development functions such as R&D at home. They tend to establish manufacturing and marketing functions in each major country or geographic region in which they do business. Although they may undertake some local customization of product offerings and marketing strategy, this tends to be limited in scope,
  2. 3. The purchase of one company by another.
  3. 5. Arises in a business context when managers pay bribes to gain access to lucrative business contracts.
  4. 6. strategy A strategy that focuses on increasing profitability by reaping the cost reductions derived from economies of scale and location economies.
  5. 9. Varying the features of a good or service to tailor it to the unique needs or tastes of groups of customers or, in the extreme case, of individual customers.
  6. 10. Entering into one or more industries that are distinct or different from a company's core or original industry to find ways to use the company's distinctive competencies to increase the value to customers of the products it offers in those industries
  7. 11. productivity The quantity of inputs that it takes to produce a given output (that is, efficiency = outputs/inputs).
  8. 13. The quantity of inputs that it takes to produce a given output (that is, efficiency = outputs/inputs).
  9. 14. industry An industry wherein primary demand is declining.
  10. 16. barriers Individuals and groups outside the company that have some claim on the company.
  11. 18. to entry Factors that make it costly for companies to enter an industry.
  12. 20. infrastructure The companywide context within which all the other value creation activities take place: the organizational structure, control systems, and company culture.
  13. 23. strategy The economic, strategic, and emotional factors that prevent companies from leaving an industry.