SMM 1

• Strategia:

  a term that literally meant “the office of a general” in ancient Greece.
• Creative Destruction:

  the replacement of the old with the new.
• Tangible Resources:

  includes assets such as land, plant, equipment, raw materials, capital goods, customer data base, and talent (employees).
• Intangible Resources: include brand names, trade contracts, technological know-how, customer relationship knowledge, and efficient value chain processes.
• Strategic Analysis:

  the process (including systematic collection, analysis, and interpretation of data on the firm’s internal situation and external environment) that helps managers make decisions that improve the competitive position of the firm.
• Environmental Analysis:

  A process that firms conduct to get a sense of developments in the marketplace and to determine the opportunities and threats being created.
• Political Analysis:

  A process that reviews how the regulatory regime might change and what impact it would have on business and marketing activities.
• Economic Analysis:

  A process that reviews how purchasing powers of consumer segments are changing.
• Social Analysis:

  An analysis of the social environment focuses on developments related to demographics, values, attitudes, and lifestyles.
• Technological Analysis:

  An analysis of how raw materials are converted into finished products and how finished products are distributed to different markets.
• Market Segment:

  a group of customers that shares similar characteristics and responds to marketing offerings is a similar fashion.
• Internal Situation Analysis:

  An analysis that determines the capabilities of the firm for creating and delivering value to customers.
• Organizational Structure:

  the network of relationships among the employees and the distribution of decisions and tasks among them.
• Strategies:

  decisions that specify a set of activities, with the activities specifying what the firm plans to do to add unique values to its offerings to achieve a sustainable competitive advantage.
• Corporate-level Strategies:

  strategic issues that define the business and determine the mission, scope, shape, and structure of the firm.
• Mission Statement:

  a declaration that specifies the current business of the company.
• Strategic Vision:

  a declaration that specifies the business future of the company.
• SBU Strategies:

  strategies based on the analysis of the attractiveness of the market and the competitive strength of the business unit.