Ch 2 Key Term

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Across
  1. 4. denotes a firm’s ability to achieve market and financial superiority over its competitors.
  2. 6. is the set of decisions across the value chain that supports the implementation of higher-level business strategies.
  3. 7. represent the strategic emphasis that a firm places on certain performance measures and operational capabilities within a value chain
  4. 8. are the strengths that are unique to an organization.
  5. 10. is an organizational strategy; broader than a competitive priority, it requires major changes in the organization’s culture.
  6. 15. focuses on nonprocess features and the capabilities of an organization, such as:
  7. 16. are basic customer expectations that are considered the minimum performance level required to stay in business.
  8. 18. is an important source of competitive advantage
  9. 19. is the making of whatever goods and services the customer wants, at any volume, at any time for anybody, and for a global organization, from any place in the world.
Down
  1. 1. Many firms gain a competitive advantage in their industry by establishing themselves as the low-cost leader through low prices.
  2. 2. is an organization that sources, markets, and produces its goods and services in several countries to minimize costs and maximize profit, customer satisfaction, and social welfare.
  3. 3. are aspects of a good or service that the customer believes but cannot personally evaluate even after purchase and consumption, such as expertise and knowledge of professionals.
  4. 5. choices are decisions made to determine the process structures that are best suited for producing goods or creating services.
  5. 9. such as color, price, freshness, style, fit, feel, hardness, and smell.
  6. 11. is the discovery and practical application or commercialization of a device, method, or idea that differs from existing norms.
  7. 12. are goods and service features and performance characteristics that differentiate one customer benefit package from another and help win the customers’ business.
  8. 13. plays a key role in achieving competitive advantage:
  9. 14. is a pattern or plan that integrates an organization’s major goals, policies, and action sequences into a cohesive whole.
  10. 17. such as friendliness, taste, wearability, safety, fun, and customer satisfaction.