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——英文版名词解释1.Vertical Growth:can be achieved by taking over a function previously provided by a supplier ora distributor.2.Cost focus:is a lower cost competitive strategy that focuses on a particular buyer group or geographic market and attempts to serve only this niche,to the exclusion of others.3.A strategic group:is a set of business units or firms that "pursue similar strategies with similar resources."4.Social environment:is mankind's social system that includes general forces that do not directly touch on the short-run activities of the organization that can and often do,influence its long run decisions.5.Environment scanning:is the monitoring,evaluating,and disseminating of information from the external and internal environments to key people within the corporation.6.mission:An organization's mission is its purpose,or the reason for its existence.(It tells what the company is providing to society,such as housecleaning or manufacturing automobiles.)7.functional strategy:is the approach taken by a functional area, such as marketing or research and development, to achieve corporate and business units objects and strategies by maximizing resource productivity.8 organizational analysis: is concerned with identifying and devel oping an organization’s resources.9 task environment:includes those elements or groups that directly affect the corporation and ,in turn, are affected by it.10 horizontal integration：can be achieved by expanding the firm's products into other geographic locations and by increasing the range of products and services offered to current market.11 Concentric diversification: growth through concentric diversification is expansion into a related industry.12 strategic managemen t:is that set of managerial decisions and actions that determents the long-run performance of a corporation.13 corporate strategy:describes a company's overall direction in terms of its general attitude toward growth and the mangement of its various business and product lines.（is therefore concerned with the direction of the firm and the management of its product lines and business units.）14 a profit strategy:is a decision to do nothing new in a worsening situation, but instead to act as though the company’s problems are only temporary.15.a value chain:is a linked set of value-creating activities beginning with basic raw materials coming suppliers ,to a series of value-added activities involved in producing and marketing a product or service,and ending with distributors getting the final goods into the hand of the ultimate consumer.简答：1.How does strategic mangement typical evolve in a corporation?Phase1.Basic financial planning:Seeking better operational control by trying to meet annual budgets. Phase2.Forecast-based planning:Seeking more effective planning for growth by trying to predict the future beyond the next year. Phase3.Externally oriented strategic planning:Seeking increased responsiveness to markets and competition by trying to think strate-gically. Phase4.Strategic mangement:Seeking a competitive advantage by considering implementation and evaluation and control when formulating a strategy.2.To gain competitive advantage, should a company invest in its core competencies (strengths) to make them distinctive competencies or should it invest in improving its weaknesses so that they are no longer a liability?This is one of the toughest questions in strategic management. Unfortunately,there is no one best answer to this question.One solution to this question is to argue that a company must do both: build distinctive competencies and eliminate core weaknesses. However, if there is insufficient money to do both, what then?If the weakness is an obstacle to effective strategy implementation, either the weakness must be fixed or the strategy changed.This should be a good discussion question - especially for grad students.3.Is it possible for a company to have a sustainable competitive advantage when its industry becomes hypercompetitive?It's possible:the Toyota and Honda auto companies are often presented as examples of successful firms able to achieved both of these generic competitive strategies.Thanks to advances in technology,a company may be able to design quality into a product or service in such a way that it can achieve both high quality and high market share-thus lowering costs.4.Describe a value chain analysis.How does a value chain analysis help a firm gain competitive advantage?(1)A value chain is a linked set of value-creating activities beginning with basic raw materials coming suppliers ,to a series of value-added activities involved in producing and marketing a product or service,and ending with distributors getting the final goods into the hand of the ultimate consumer.(2)The systematic examination of individual value activities can lead to a better understanding of a corporation's strengths and weaknesses-thus identifying any core or distinctive competencies.According to Porter,"Differences among competitor value chains are a key source of competitive advantage."5.What information is needed for the proper formulation of strategy? Why?(1)In order to properly formulate strategy,it is essential to have information on the important variables in both the external and internal environments of the corporation.This includes general forces in the societal environment as well as the more easy-to-identify groups such as customers and competitors in the task environment.(2)A corporation needs to have this information in order to identify a need it can fulfill via its corporate mission. It is also important to have informationon the corporation's structure, culture, and resources. A corporation needs to have this information in order to assess its capabilities to satisfy a customer's need by making and distributing a product or service. Information on both the internal and external environments can also help a corporation to predict likely opportunities and threats. Long-term strategies can be designed with these in mind.6.What are the general forces in the societal environment?What are the five forces in a industry?What determines the ultimate profit potential in a industry?(1)Internal Environment ,Political-Legal Forces,Economic Forces,Sociocultural Forces and Technological Forces.(2)threat of new entrants,rivalry among existing firms,threat of substitute products,bargaining power of buyers,bargaining power of suppliers.(3)The collective strength of these forces detemines the ultimate profit potential in the industry.7. What is meant by the hierarchy of strategy?A hierarchy of strategy is the grouping of strategy types by level in the organization.This hierachy of strategy is a nesting of one steategy within another so that they complement and support one another.Functional strategies support business strategies,which,in turn,support the corporate strategy(ies).8.Why are strategic decisions different from other types of decisions?Strategic decisions deal with the long-run future of the entire organization and have three characteristics which differentiate them from other types of decisions: (1)Rare.Strategic decisions are unusual and typically have no precedent to follow;(2)Consequential.Strategic decisions commit substantial resources and demand a great deal of commitment from people at all levels; (3)Directive.Strategic decisions set precedents for lesser decisions and future actions throughout the organization.9.How can a decision maker identify strategic factors in the corporation's external environment?One way to identify and analyze developments in the external environment is to use the issues priority matrix:①Identify a number of likely trends emerging in the natural,societal,and task environments.These are strategic environmental issues-those important trends that,if they happen,will determine what various industries will look like in the near future.②Assess the probability of these trends actually occurring,from low to medium to high.③Attempt to ascertain the likely impact(from low to high)of each of these trends on the corporation.10.Why has strategic management become so important to today's corporations?Research has revealed that organizations that engage in strategic management generally outperform those that do not.The attainment of an appropriate match or "fit" between an organization's environment and its strategy, structure,and processes has positive effects on the organization's performance. Strategic planning becomes increasingly important as the environment becomes unstable.11.What is the relevance of the resource-based view of the firm to strategic management in a global environment?The resource-based view of the firm is an attempt to bring attention to the importance of a corporation's resources in strategic management.Unfortunately, this emphasis on the industry tended to ignore a firm's core skills and competencies.What good is the knowledge that a niche in the market exists that can be reached through a focused differentiation competitive strategy if a corporation doesn't have the resources to implement such a strategy?As noted in the text, experts on the resource-based view suggest that differences in performance among companies may be explained best, not through differences in industry structure identified by industry analysis, but through differences in corporate assets and resources and their application. Nevertheless, the idea that the durability and imitability of corporate resources determine competitive advance is a very useful one. The movement toward a more global environment simply accentuates the need to assess and to build a firm’s competencies so that it can successfully compete world-wide. A competency may be distinctive in one’s home country, but only be a core competency (or less) in another location in the world.。