Exam Notes
2005IBA Notes for Exam
Strategic Management
The process of determining an organisations basic mission and long term objectives and implementing a plan of action for attainting these goals.
Economic imperative
A world wide strategy based on cost leadership differentiation and segmentation
Political Imperative
Strategic formulation and implementation utilising strategies that are country responsive and designed to protect local market niches
Quality imperative
Strategic formulation and implementation utilising strategies of total quality management to meet or exceed customers expectations and continuously improve products or services.
Administrative coordination
Strategic formulation and implementation in which the MNC makes strategic decisions based on the merits of the individual situation rather than using a pre determined economically or politically driven strategy.
Global Integration
The production and distribution of products and services of a homogenous type and quality on a world wide basis
National Responsiveness
The need to understand the different consumer tastes in segmented regional markets and respond to different national standards and regulations imposed by autonomous governments and agencies.
Global Strategy
Integrated strategy based primarily on price competition
Multi-domestic strategy
Differentiated strategy emphasising local adaption
International Strategy
Mixed strategy combining low demand for integration and responsiveness
Transnational strategy
Integrated strategy emphasising both global integration and global responsiveness
Environmental Scanning
The process of providing management with accurate forecasts of trends related to external changes in geographic areas where the firm currently is doing business or is considering setting up operations.
Key Success Factor (KSF)
A factor necessary for a firm to effectively compete in a market niche.
Strategy Implementation
The process of
Strategic Management
The process of determining an organisations basic mission and long term objectives and implementing a plan of action for attainting these goals.
Economic imperative
A world wide strategy based on cost leadership differentiation and segmentation
Political Imperative
Strategic formulation and implementation utilising strategies that are country responsive and designed to protect local market niches
Quality imperative
Strategic formulation and implementation utilising strategies of total quality management to meet or exceed customers expectations and continuously improve products or services.
Administrative coordination
Strategic formulation and implementation in which the MNC makes strategic decisions based on the merits of the individual situation rather than using a pre determined economically or politically driven strategy.
Global Integration
The production and distribution of products and services of a homogenous type and quality on a world wide basis
National Responsiveness
The need to understand the different consumer tastes in segmented regional markets and respond to different national standards and regulations imposed by autonomous governments and agencies.
Global Strategy
Integrated strategy based primarily on price competition
Multi-domestic strategy
Differentiated strategy emphasising local adaption
International Strategy
Mixed strategy combining low demand for integration and responsiveness
Transnational strategy
Integrated strategy emphasising both global integration and global responsiveness
Environmental Scanning
The process of providing management with accurate forecasts of trends related to external changes in geographic areas where the firm currently is doing business or is considering setting up operations.
Key Success Factor (KSF)
A factor necessary for a firm to effectively compete in a market niche.
Strategy Implementation
The process of