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MGMT434 Study Guide Midterm CHAPTERS 1. Strategic counseling and Competitiveness 2. The external surroundings: Opportunities, Threats Competition, and Competitor Analysis 3. The Internal Environment: Resources, Capabilities, Competencies, and Competitive Advantages 4. Business-level Strategy 5. Competitive opposition and Dynamics 6. Corporate-level Strategy 7. Strategic Acquisition and Restructuring 8. Global Strategy CHAPTER 1 Strategic Management and Competitiveness 1. Strategy an integrated and coordinated set of commitments and actions designed to endeavour core competencies and gain a competitory wages. * Competitive advantage when a company implements a strategy that competitors are inefficient to duplicate or find too costly to demonstrate to imitate. 2. Core competencies capabilities that serve as a source of competitive advantage for a dissipated over its rivals. * Capability the cogency for a set of resources to perform a task or an activity in an integrative manner. * Resources inputs into a firms production process, such as capital equipment, the skills of individual employees, patents, finances, and skilful managers.

* Strategic flexibility a set of capabilities used to reply to various demands and opportunities existing in a dynamic and dubious competitive environment. * Uniqueness A term used to prise a firms resources and capabilities; it is the basis of a firms strategy and its ability to earn above-average returns. 3. Mission specifies the bank line or businesses in which the firm intends to compete and the customers it intends to serve. * Vision a picture of what the firm wants to be and, in broad terms, what it wants to in the end achieve. 4. Risk an investors uncertainty about the economic gains or losses that will result from a particular investment. * amount Returns returns equal to those an investor expects to... If you want to get a full essay, ready it on our website: Orderessay

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