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Suggested Study Topics for Final Quiz
BUSB – 481
Strategic Management
Chapter 6:
• Value Chain—that set of activities that must be accomplished to bring a product or service from raw materials to the point that it can be sold to a final customer.
• Vertical Integration—the number of steps in the value chain that a firm accomplishes within its boundaries
• Opportunism—a firm is unfairly exploited in an exchange
• Flexibility—how costly it is for a firm to alter its strategic and organizational decisions.
Chapter 7:
• Corporate Diversification Strategy—when a firm operates in multiple industries or markets simultaneously.
• Product Diversification—a firm operates in multiple industries simultaneously.
• Economic Value in Corporate Diversification—the difference between the perceived benefits gained by a customer who purchases a firms products or services and the full economic cost of these products or services.
• Core Competencies—the collective learning in an organization, especially how to coordinate diverse production skills and integrate multiple streams of technologies.
• Escalation of Commitment—an increased commitment by managers to an incorrect course of action, even as its limitations become manifest.
• Tacit Collusion—firms coordinate their production and pricing decisions not by communicating directly with other firms, but by using signals to inform their intent.
Chapter 8:
• M-form or Multidivisional Organizational Structure—an organizational structure for implementing a corporate diversification strategy whereby each business a firm engages in is managed through a separate profit and loss division.
• Three Critical Control Processes for Firms Implementing Diversification Strategies.— evaluating the performance of divisions, allocating capitol across divisions, transferring intermediate products between divisions.
• Roles of the Chairman of the Board, Chief Executive...