STRATMA

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This pertains to a company's strategy that involves marketing the qualities of a product that sets it apart from other similar products and uses that difference to drive consumer choice.

Differentiation strategy

This pertains to the strategy of a company that involves producing a product or providing a service at a lower cost than its competitors.

Cost advantage

It pertains to the rivalry between companies that sell similar goods and services.

Competition

It pertains to a selected group of customers within a business' available market at which a business aims its marketing efforts and resources.

Target Market Signup and view all the answers

It pertains to the value offered by a product or service to the market.

Benefit Signup and view all the answers

This strategy is usually created at the field level to achieve immediate objectives

Operating level strategy Signup and view all the answers

This strategy is formulated to achieve some objectives of a business unit by maximizing resource productivity

Functional level strategy Signup and view all the answers

This strategy emphasizes strengthening the company’s competitive position of products or services.

Business level strategy Signup and view all the answers

This strategy defines the markets and business in which a company will operate.

Corporate level strategy Signup and view all the answers

During this phase, the top management organizes planning groups of managers and key employees from various departments and workgroups

Strategic management Signup and view all the answers

During this phase, organizations attempt to understand basic marketplace phenomena.

Externally oriented planning Signup and view all the answers

During this phase, organizations usually extend time frames covered by the budgeting process (3-5 years).

Forecast based planning Signup and view all the answers

refers to a unique plan designed to achieve a competitive position in the market.

Strategy Signup and view all the answers

During this phase, organizations usually extend time frames covered by the budgeting process (3-5 years).

Forecast based planning Signup and view all the answers

Consists of analyses, decisions, and actions, an organization undertakes to create, implement, and sustain competitive advantages.

Management Signup and view all the answers

During this phase, organizations emphasize preparing and meeting annual budgets.

Basic financial planning Signup and view all the answers

acts as a stimulus for a change in strategy.

Triggering event Signup and view all the answers

Internal environment

• new chief executive officer • Performance measure • threat of a change in ownership Signup and view all the answers

External environment

• External Intervention • strategic Inflection point Signup and view all the answers

Strategic decision making

Rare, consequential, directive Signup and view all the answers

This states that one powerful individual makes strategy

Entrepreneurial mode. Signup and view all the answers

This mode focuses on the opportunities and growth, not business problems.

Entrepreneurial mode. Signup and view all the answers

This is characterized by reactive solutions to existing problems rather than a proactive search for new opportunities

Adaptive mode Signup and view all the answers

This involves systematically gathering appropriate information for situation analysis

Planning mode Signup and view all the answers

In this mode, top management first develops a reasonably clear idea of the corporation’s mission and objectives.

Logical incrementalism Signup and view all the answers

This ensures economic efficiency and income for businesses.

The Economic Pillar (Profit) Signup and view all the answers

This ensures the quality of life, safety, and services for citizens.

The Social Pillar (People) Signup and view all the answers

This ensures the availability and quality of natural resources

The Environmental Pillar (Planet) Signup and view all the answers

This company sells used books and donates a portion of the profits to help fund literacy programs.

Better world books Signup and view all the answers

offered digital skillstraining to learners worldwide to ensure access to technology, skills, and opportunity

Microsoft Signup and view all the answers

became the first major company to balance absorbing and emitting carbon from the atmosphere

Google Signup and view all the answers

The second-largest outdoor apparel company manufacturer donates annually to a carbon farm fund it created.

The north face Signup and view all the answers

it uses 100% renewable energy sources such as solar and wind for many of its power needs, including its data centers.

Apple Signup and view all the answers

This company plans to achieve a major recycling initiative by 2030.

Coca Cola Company Signup and view all the answers

This company’s goal is to make quality apparel that does not harm the environment.

Patagonia Signup and view all the answers

This global logistics company commits to reaching zero emissions by 2050 to aid climate protection.

DHL Signup and view all the answers

The company aims to reuse 100% of plastic packaging by 2025.

Unilever Signup and view all the answers

Differentiation strategy

A strategy that highlights unique product qualities to attract consumers.

Cost advantage

A strategy of producing a product or service at a lower cost than competitors.