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1 & 2 - OPMA - Strategy & Sustainability
Chapters 1&2
21
Management
Undergraduate 3
05/02/2014

Additional Management Flashcards

 


 

Cards

Term
Strategy
Definition
Describes how a firm intends to create and sustain value for its current shareholders.
Term
Sustainability
Definition
The current ability to meet current resource needs without compromising future generations to meet their needs.
Term
Triple Bottom Line includes:
Definition
Evaluating the firm against social, economic, and environmental criteria.
Term
(Social Responsibility)
Definition
Pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts its business.
Term
(Economic Prosperity)
Definition
The firm is obligated to compensate shareholders who provide capital through stock purchases and other financial instruments via a competitive return on investment.
Term
(Environmental Stewardship)
Definition
This refers to the firm's impact on the environment. The company should protect the environment as much as possible or at least cause no harm.
Term
Straddling
Definition
Occurs when a company seeks to match the benefits of a successful position while maintaining its existing position. It adds new features, services, or technologies onto the activities it already performs.
Term
ORDER WINNER
Definition
A specific marketing-oriented dimension that clearly differentiates a product form competing products.
Term
ORDER QUALIFIER
Definition
A dimension used to screen a product or service as a candidate for purchase.
Term
Activity System Maps
Definition
Diagrams that show how a company's strategy is delivered through a set of supporting activities.
Term
Benchmarking
Definition
Improves performance by identifying and applying best demonstrated practices to operations and sales.
Term
Business Analytics
Definition
The science of translating vast amounts of complex data into clear, manageable information in order to make sound decisions.
Term
Effectiveness
Definition
Doing the right things to create the most value for your customer.
Term
Efficiency
Definition
Doing something at the lowest possible cost.
Term
Operations
Definition
Manufacturing and service processes used to transform resources into products.
Term
Value
Definition
The attractiveness of a product relative to its cost.
Term
Productivity
Definition
A measure of how well resources are used.
Term
Supply Chain Risk
Definition
The likelihood of a disruption that would impact the ability of a company to continuously supply products or services.
Term
Operations Effectiveness
Definition
Performing activities in a manner that best implements strategic priorities at a minimum cost.
Term
Competitive Dimensions
Definition
1-Price 2-Quality 3-Delivery Speed 4-Delivery Reliability 5-Coping with Changes in Demand 6-Flexibility and New-Product Introduction Speed
Term
Supply Chain
Definition
Processes that move information and material to and from the firm.
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