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1、南京财经大学战略管理期末复习资料南京财经大学战略管理期末复习资料-英文版英文版名词解释1.Vertical Growth1.Vertical Growth:can be achieved by taking over a function previously provided by a supplier ora distributor。2.Cost2.Cost focusfocus:is a lower cost competitive strategy that focuses on a particular buyer group orgeographic market and atte
2、mpts to serve only this niche，to the exclusion of others.3.A strategic group3.A strategic group：is a set of business units or firms that pursue similar strategies with similarresources。”4.Social environment4.Social environment：is mankinds social system that includes general forces that do not direct
3、lytouch on the shortrun activities of the organization that can and often do，influence its long rundecisions。5 5。Environment scanningEnvironment scanning：is the monitoring，evaluating,and disseminating of information fromthe external and internal environments to key people within the corporation.6.mi
4、ssion6.mission:An organizations mission is its purpose,or the reason for its existence。(It tells what thecompany is providing to society，such as housecleaning or manufacturing automobiles。）7 7。functional strategyfunctional strategy:is the approach taken by a functional area，such as marketing or rese
5、archand development,to achieve corporate and business units objects and strategies by maximizingresource productivity.8 8 organizationalorganizational analysisanalysis：is concerned with identifying and developing an organizationsresources。9 task environment9 task environment：includes those elements
6、or groups that directly affect the corporation and，in turn,are affected by it。1010 horizontalhorizontal integrationintegration：can be achieved by expanding the firms products into othergeographic locations and by increasing the range of products and services offered to currentmarket.1111 ConcentricC
7、oncentric diversificationdiversification：growth through concentric diversification is expansion into arelated industry。1212 strategicstrategic managemenmanagement:is that set of managerial decisions and actions that determents thelongrun performance of a corporation.1313 corporatecorporate strategys
8、trategy:describes a companys overall direction in terms of its general attitudetoward growth and the mangement of its various business and product lines。（is thereforeconcerned with the direction of the firm and the management of its product lines and businessunits.）14 a profit strategy14 a profit st
9、rategy：is a decision to do nothing new in a worsening situation，but instead to actas though the companys problems are only temporary.1515。a value chaina value chain:is a linked set of value-creating activities beginning with basic raw materialscoming suppliers，to a series of value-added activities i
10、nvolved in producing and marketing aproduct or service,and ending with distributors getting the final goods into the hand of the ultimateconsumer。简答：1 1。How does strategic mangement typical evolve in a corporationHow does strategic mangement typical evolve in a corporation？Phase1.Basic financial pla
11、nning:Seeking better operational control by trying to meet annualbudgets。Phase2.Forecast-based planning:Seeking more effective planning for growth by tryingto predict the future beyond the next year。Phase3.Externally oriented strategic planning：Seekingincreased responsiveness to markets and competit
12、ion by trying to think strategically。Phase4。Strategic mangement:Seeking a competitive advantage by considering implementation andevaluation and control when formulating a strategy。2 2。ToTo gaingain competitivecompetitive advantageadvantage，shouldshould a a companycompany investinvest inin itsits cor
13、ecore competenciescompetencies（strengthsstrengths）toto makemake themthem distinctivedistinctive competenciescompetencies oror shouldshould it it investinvest inin improvingimproving itsitsweaknesses so that they are no longer a liabilityweaknesses so that they are no longer a liability？This is one o
14、f the toughest questions in strategic management.Unfortunately，there is no onebest answer to this question。One solution to this question is to argue that a companymust doboth：build distinctive competencies and eliminate core weaknesses。However，if there isinsufficient money to do both，what then?If th
15、e weakness is an obstacle to effective strategyimplementation,either the weakness must be fixed or the strategy changed。This should be a gooddiscussion question-especially for grad students。3.Is it possible for a company to have a sustainable competitive advantage when its industry3.Is it possible f
16、or a company to have a sustainable competitive advantage when its industrybecomes hypercompetitivebecomes hypercompetitive？Its possible：the Toyota and Honda auto companies are often presented as examples ofsuccessful firms able to achieved both of these generic competitive strategies.Thanks to advan
17、cesin technology,a company may be able to design quality into a product or service in such a way thatit can achieve both high quality and high market sharethus lowering costs。4 4。DescribeDescribe a a valuevalue chainchain analysisanalysis。HowHow doesdoes a a valuevalue chainchain analysisanalysis he
18、lphelp a a firmfirm gaingaincompetitive advantage?competitive advantage?（1)A value chain is a linked set of valuecreating activities beginning with basic rawmaterials coming suppliers,to a series of valueadded activities involved in producing andmarketing a product or service，and ending with distrib
19、utors getting the final goods into the handof the ultimate consumer。(2）The systematic examination of individual value activities can lead toa better understanding of a corporations strengths and weaknesses thus identifying any core ordistinctive competencies.According to Porter,Differences among com
20、petitor value chains are akey source of competitive advantage。5 5。What information is needed for the proper formulation of strategy?What information is needed for the proper formulation of strategy?Why?Why?(1)In order to properly formulate strategy,it is essential to have information on the importan
21、tvariables in both the external and internal environments of the corporation。This includes generalforces in the societal environment as well as the more easyto-identify groups such as customersand competitors in the task environment。(2）A corporation needs to have this information in orderto identify
22、 a need it can fulfill via its corporate mission。It is also important to have informationon the corporations structure，culture，and resources.A corporation needs to have thisinformation in order to assess its capabilities to satisfy a customers need by making anddistributing a product or service.Info
23、rmation on both the internal and external environments canalso help a corporation to predict likely opportunities and threats。Long-term strategies can bedesigned with these in mind.6.What6.What areare thethe generalgeneral forcesforces inin thethe societalsocietal environmentenvironment？WhatWhat are
24、are thethe fivefive forcesforces inin a aindustryindustry？What determines the ultimate profit potential in a industry?What determines the ultimate profit potential in a industry?(1）Internal Environment,Political-Legal Forces，Economic Forces，Sociocultural Forces andTechnological Forces。（2）threat of n
25、ew entrants，rivalry among existing firms，threat of substituteproducts，bargaining power of buyers,bargaining power of suppliers。（3）The collective strengthof these forces detemines the ultimate profit potential in the industry。7.What is meant by the hierarchy of strategy?7.What is meant by the hierarc
26、hy of strategy?A hierarchy of strategy is the grouping of strategy types by level in the organization.Thishierachy of strategy is a nesting of one steategy within another so that they complement andsupport one another。Functional strategies support business strategies,which，in turn，support thecorpora
27、te strategy(ies).8 8。Why are strategic decisions different from other types of decisionsWhy are strategic decisions different from other types of decisions？Strategic decisions deal with the long-run future of the entire organization and have threecharacteristics which differentiate them from other t
28、ypes of decisions：(1）Rare.Strategicdecisions are unusual and typically have no precedent to follow；(2)Consequential。Strategicdecisions commit substantial resources and demand a great deal of commitment from people at alllevels;(3）Directive。Strategic decisions set precedents for lesser decisions and
29、future actionsthroughout the organization。9 9。HowHow cancan a a decisiondecision makermaker identifyidentify strategicstrategic factorsfactors inin thethe corporationscorporations externalexternalenvironmentenvironment？One way to identify and analyze developments in the external environment is to us
30、e the issuespriority matrix：Identify a number of likely trends emerging in the natural,societal,and taskenvironments.These are strategic environmental issues-those important trends that,if theyhappen,will determine what various industries will look like in the near future。Assess theprobability of th
31、ese trends actually occurring，from low to medium to high.Attempt to ascertainthe likely impact(from low to high)of each of these trends on the corporation.1010.Why has strategic management become so important to todays corporations?.Why has strategic management become so important to todays corporat
32、ions?Research has revealed that organizations that engage in strategic management generallyoutperform those that do not。The attainment of an appropriate match or”fit between anorganizations environment and its strategy,structure,and processes has positive effects on theorganizations performance.Stra
33、tegic planning becomes increasingly important as the environmentbecomes unstable。1111。What is the relevance of the resourceWhat is the relevance of the resourcebased view of the firm to strategic management inbased view of the firm to strategic management ina global environment?a global environment?
34、The resource-based view of the firm is an attempt to bring attention to the importance of acorporations resources in strategic management。Unfortunately,this emphasis on the industrytended to ignore a firms core skills and competencies。What good is the knowledge that a niche inthe market exists that
35、can be reached through a focused differentiation competitive strategy if acorporation doesnt have the resources to implement such a strategy？As noted in the text，experts on the resourcebased view suggest that differences in performance among companiesmay be explained best,not through differences in
36、industry structure identified by industryanalysis，but through differences in corporate assets and resources and their application.Nevertheless,the idea that the durability and imitability of corporate resources determinecompetitive advance is a very useful one.The movement toward a more global environmentsimply accentuates the need to assess and to build a firms competencies so that it can successfullycompete world-wide。A competency may be distinctive in ones home country,but only be acore competency（or less)in another location in the world.