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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
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Agency theory
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Views the firm as a nexus of contracts among self-interested individuals who must be supervised and managed.
75
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Benchmarking
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Comparing the efficiency and effectiveness of your business processes against strict standards and then measuring performance against those standards.
88
|
|
Best practices
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The most successful solutions or problem-solving methods for consistently and effectively achieving a business objective.
88
|
|
Competitive forces model
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Used to describe the interaction of external influences, specifically threats and opportunities, that affect an organization's strategy and ability to compete.
80
|
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Core competency
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An activity for which a firm is a world-class leader.
92
|
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Efficient customer response system
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Directly links consumer behaviour back to distribution and production and supply chains.
81
|
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Mass customization
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The ability to offer individually tailored products or services using the same production resources as mass production.
82
|
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Network economics
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Based on the concept of a network where adding another participant entails zero marginal costs but can create much larger marginal gains.
92
|
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Organization
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A stable, formal social structure that takes resources from the environment and processes them to produce outputs.
69, 71
|
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Primary activities
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Most directly related to production and distribution of the firm's products and services that create value for the customer.
87
|
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Product differentiation
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Compettive strategy for creating brand loyalty by developing new and unique products and services that are not easily duplicated by competitors.
81
|
|
Routines
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Standard operating procedures;
precise rules, procedures, and practices that have been developed to cope with virtually all expected situations.
71
|
|
Strategic transitions
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A movement between levels of sociotechnical systems.
96
|
|
Support activities
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Make the delivery of the primary activities possible and consist of organization infrastructure, human resources, technology, and procurement.
87
|
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Switching costs
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The cost of switching from one product to a competing product.
85
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