Strategic And International Management at Universität Mannheim

Flashcards and summaries for Strategic and International Management at the Universität Mannheim

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What is management?

Planning, Organizing, Leading and Controlling to achieve organizational goals effectively and efficiently

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PLANNING

Choose organizational goals and courses of action to achieve them

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ORGANIZING

Choose task and autority relationships to work together and achieve goals

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LEADING

Motivate, coordinate and energize to work together and achieve goals

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CONTROLLING

Choose measuring and monitoring systems to evaluate the achievement of goals

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What is strategic management?

Improvement of:

financial performance
competitive position

Achievement of:

Competitive edge

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Sustainable competitive advantage of a company

When many buyers prefer its products over the offerings of competitors (durable preference)

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Patterns of actions that define a company’s strategy

ACTIONS TO

Diversify earnings and revenues
Enter new markets or exit existing ones
mergers & acquisitions
alliances and collaborations
Respond to market changes or external factors
Improve capabilities and correct weaknesses
Gain market share

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A company’s strategy is

Dynamic

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Proactive strategy elements

DELIBERATE STRATEGY
New planned initiatives + ongoing strategy

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Reactive strategy elements

EMERGENT STRATEGY
New strategies that emerge from adapting to changing circumstances

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Realized strategy

Deliberate strategy + emergent strategy

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Strategic and International Management at Universität Mannheim

Flashcards and summaries for Strategic and International Management at the Universität Mannheim

Study with flashcards and summaries for the course Strategic and International Management at the Universität Mannheim

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Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

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Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

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Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

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Exemplary flashcards for Strategic and International Management at the Universität Mannheim on StudySmarter:

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Other courses from your degree program

Strategic Management

Management

FSK Englisch

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