Midterm 2 BUSN 1210

• what's corporate strategy

  its a strategy that evaluates the type of business the company is in and what it wants to do with the business
• What are the three types of corporate strategies

  growth, stability and renewal
• Define growth 


  its when a company is able to expand into new products and markets
• define stability


  its when a company is able to maintain its success
• define renewal

  its when a company is able address their weakness that are causing their decline
• what is growth strategy


  its a type of strategy that company use when they want to expand markets or their product offerings, either through their current business or new business
• what is this part of? concentration, vertical integration, horizontal integration and diversification?

  growth strategies
• what is concentration


  its when a company puts their focus on line of business and increasing the number of product being offered or serving more markets
• what are the two types of vertical integration

  backward vertical integration and forward vertical integration
• what is backward vertical integration

  its when a company try to gain control of their inputs by becoming their own supplier
• what's forward vertical integration

  when an organization try to become their own distributor or the one that deliver or sell products to customer. they do this to be able to control their outputs
• what is horizontal integration

  its when a company grows by collaborating with other organizations in the same industry
• what are the two types of diversification

  related diversification and unrelated diversification
• related diversification?

  its when a company grows by collaborating with other firms that are in different but related industries
• unrelated diversification


  when a company grows due to collaborating with other firms in which they are completely different and unrelated industries
• stability strategy?


  its a type of strategy in which the company try to not make significant changes if they know that the company is doing relatively well
• renewal strategy


  its a strategy that company uses when the company is declining. they use this strategy in order to fix anything that is causing the decline of the organization
• what are the two main types of renewal strategies

  retrenchment and turnaround
• retrenchment strategy? how does it help the business

  its a short run renewal strategy. this short run strategy help the business by stabilizing operation, fixing organizational resources and capabilities and preparing the company to compete again
• what's turnaround strategy


  its a renewal strategy for situations in which the organization's performance problems are more serous
• what's cash cows

  when a company has low growth rate but high market share
• what's is stars?

  when a company has high growth rate and high market share
• what is question mark?

  when a company has high growth rate but low market share
• what are dogs?

  when a company has low growth rate and low market share
• what is competitive strategy


  its a type of strategy that focuses on how the organization will compete with each of its businesses
• what is strategic business units


  its a single business of an organization in several different businesses of a company. this single business has its own departments and own strategies. example of this is how samsung has its SBUs of hotel, sports team, technologies, etc.
• what is competitive advantage


  its what set organization apart from other companies
• how can a company create a competitive advantages

  1. the company should try to differentiate itself to competitors

  2. the company needs to create a competitive advantage that is sustainable

  
  

  3. the company must focus on quality management to increase higher achievements and meet customers' demand
• what is design thinking as a competitive advantage 


  its when company try to approach management problems as to how designed approach design problems
• what is social media as a competitive advantage 


  its when its able to help people inside and outside the organization. it also helps people to connect and reduce expenses or increase revenue possibilities or both
• what are the three main types of corporate strategies

  growth, stability and renewal
• what are the three types of organizational strategy


  corporate, business and functional
• what are the five things that company use in order to analyze the market or status they are in

  threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers, and current rivalry
• threat of new entrants


  its testing to see how likely are new competitors to come in the same industry you're in
• threat of substitutes


  its looking how likely other companies products to act as a substitute or alternative of your own product
• what is bargaining power of buyers


  its testing how much bargaining power does your customers have
• what is bargaining power of suppliers

  testing how much bargaining power do suppliers have
• what is current rivalry


  its testing how competitive is the industry you're currently in. are there a lot of established companies already?
• what is cost leadership strategy


  its when an organization tries to have the lowest-cost producer in the industry
• what is differentiation strategy


  its when a company try to offer unique products that will be widely valued by customers