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Flashcards in Strategy Deck (23)
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0
Q

Stakeholder concept

A

Concept that proposes that any organization operates within a complex environment in which it affects and is affected by a variety of forces or stakeholders who all share in the value of the organization and its activities.

1
Q

Leading indicator

A

A metric that describes an activity that can change future performance and indicate higher degree of success in achieving strategic goals.

2
Q

Value drivers

A

Actions, processes, or results that are needed to deliver a desired value.

3
Q

Scenario/what-if analysis

A

Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.

4
Q

Cash flows statement

A

Statement that shows incoming and outgoing cash in the areas of operations, investments, and financing and remaining cash reserves; reflects an organization’s avility to meet its current and short-term obligations.

5
Q

Organizational culture

A

The basic beliefs and customs shared by members of an organization that contribute to an organization’s sense of its identity.

6
Q

Value

A

The benefit created when an organization meets its strategic goals.

7
Q

Income statement

A

Statement that reports revenues, expenses, and net income (profit) for a specified period - for example, quarterly or annually.

8
Q

Strategic fit

A

A state in which an organization’s strategy is consistent with its external opportunities and circumstances and its internal structure, resources and capabilities.

9
Q

Vision statement

A

Vivid, guiding image of an organization’s desired future, the future it hopes to attain through its strategy.

10
Q

Lagging indicator

A

A metric that describes an activity that has already occurred.

11
Q

Strategic management

A

The actions that leaders take to move their organizations toward those goals and create value for all stakeholders.

12
Q

Benchmarking

A

Process that compares performance levels and/or processes of one entity with those of another to identify performance gaps and set goals aimed at improving performance.

13
Q

Business intelligence

A

Ability to gather and analyze data from inside and outside the organization so that information is available for decision makers.

14
Q

Organizational values

A

Beliefs that are important to an organization and often dictate employee behavior.

15
Q

Value chain

A

The process by which an organization creates the product or service it offers to the customer.

16
Q

Critical path

A

Describes the shortest amount of time required to complete a project, taking into account all project task relationships - for example, whether task C must be completed before Task E, and whether Tasks A and B can be completed at the same time.

17
Q

Variance analysis

A

Statistical method that identifies the degree of difference between planned and actual performance.

18
Q

Blue ocean startegies

A

Strategies that create competitive advantage by creating a new marketplace arena in which there are no other competitors.

19
Q

Mission statement

A

Statement that specifies what activities an organization intends to pursue and what course management has charted for the future; a concise statement of its strategy.

20
Q

Trend analysis

A

Statistical method that studies the way in which a variable may change over time.

21
Q

Balance sheet

A

Statement that reports the financial position of the organization at a specific point in time; shows assets, liabilities, and shareholder equity.

22
Q

Strategic planning

A

The process of setting goals and designing a path toward a competitive position.