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Chap 10: Strategy and Strategic Management, Sustainable competitive…

- - - - A core competency: a special strength that gives an organization a competitive advantage,
  - - - Core values are broad beliefs about
        what is or is not appropriate behavior.
      - Organizational culture is the predominant value system for the organization as a whole
    - - Operating objectives: are specific results that organizations try to accomplish.
    - - asking:
        What are we moving to?
        What is our dream?
        What kind of a difference do we want to make in the world?
        What do we want to be known for?
      - Stakeholders: individuals and
        groups directly affected by the organization and its strategic accomplishments.
- - - - Related diversification: acquiring new businesses or entering business areas similar to what one already does.
      - Unrelated diversification: acquiring businesses or
        entering business areas that are different from what one already does
  - - - Supplier alliance
      - Distribution alliance
      - Outsourcing alliance
- - - - A strategic leader needs to create a sense of urgency
      - A strategic leader needs to make sure that everyone understands the strategy
      - A strategic leader has to be the guardian of trade-off s
      - A strategic leader needs to be a teacher