Strategic Management at Technische Hochschule Ingolstadt

Flashcards and summaries for Strategic Management at the Technische Hochschule Ingolstadt

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Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What is effectiveness?    

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What is superior performance?

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

How do you achieve effectiveness and efficiency?

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Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What is efficiency?    

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What is profit?

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

An objective is ... 

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

A goal is ...
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Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What are the four factors of the Successful Strategy?

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Between what does strategy form a link?

Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

What is a process?

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What is marketing?    
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What are the two possible ways of achieving superior performance?

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Exemplary flashcards for Strategic Management at the Technische Hochschule Ingolstadt on StudySmarter:

Strategic Management

What is effectiveness?    
It is the capacity to achieve goals. 

Strategic Management

What is superior performance?
Superior levels of activities, as soon as possible and forever.

Strategic Management

How do you achieve effectiveness and efficiency?

First you have to set a goal and show the team what can be achieved when they are efficient and effective. Then you have to show them how they can be efficient and effective. You also have to control their work and give them incentives to work hard.

Strategic Management

What is efficiency?    
It is the optimum use of resources to achieve your goals.

Strategic Management

What is profit?
Profit = revenue - cost

Strategic Management

An objective is ... 
short-term

Strategic Management

A goal is ...
short-term

Strategic Management

What are the four factors of the Successful Strategy?

  1. Long-term, simple and agreed     objectives
  2. Profound understanding of the competitive environment
  3. Objective appraisal of resources
  4. EFFECTIVE IMPLEMENTATION

Strategic Management

Between what does strategy form a link?
Between the firm and the industry environment. 

Strategic Management

What is a process?
A process is a set of interrelated activities that turns the input into a specific output.

Strategic Management

What is marketing?    
It is the process between buyers and sellers.

Strategic Management

What are the two possible ways of achieving superior performance?

corporate strategy and business strategy

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