Concerns the specifics of management's game plan for competing successfully and securing a competitive advantage over rivals in the marketplace
What is a competitive strategy
100
Ethical school where different societal cultures and customs create divergent standards of right and wrong - thus what is ethical can vary from one culture or nation to another
What is ethical relativism
100
Model used to assess the profit potential of industries
What is Porter's five forces model
100
Statement of the desired future state of a firm
What is a Vision
200
Cost reductions stemming from strategic fit along the value chains of related businesses
What are Economies of Scope
200
Strategy based on low cost aimed at securing a competitive advantage by serving buyers in a target market niche
What is a Focused Low-Cost strategy
200
A firm's internal work climate
What is Corporate culture
200
This management tool emphasizes continuous improvement in all phases of operations to assure optimal quality and customer satisfaction
What is Total Quality management (TQM)
300
A good way to diversify when the expansion opportunity is too complex, uneconomical, or risky to go it alone
What is a Joint Venture
300
A hybrid of low-cost and differentiation strategies
What is a Best-Cost strategy
300
Government fines and penalties for a firm that are incurred as a result of ethical wrongdoing being discovered
What are Visible Costs
300
A cluster of industry rivals that have similar competitive approaches and market positions