The entrepreneurial role focuses on both voluntary and proactive initiatives.
The process of thinking through the steps of the business plan is probably more
important than the business-plan document itself.
Aspects of strategy must be communicated to external constituencies, such as suppliers,
because they play a critical role in strategic implementation.
Decision rights are the policies that tell individuals who’s responsible for generating
certain information and who’s authorized to act on it.
Greater scale discourages the use of more sophisticated technology.
The goal of low-cost approach is to reduce costs significantly so that you drive up the
customers’ willingness to pay.
The widespread diffusion of the Internet has provided the drive for the international
outsourcing of services.
Supplier power is the degree to which firms in the supply industry are able to dictate
favorable contract terms.
There is a close connection between tactical moves and strategy evolution.
To change, a firm must have a clear vision of the desired end state.
Bottled water is on track to surpass soft drinks as the best-selling beverage in the United
States.
When integrating acquisitions, most managers tend to focus on personnel issues.
Firms seek competitive advantage through the quality of their human capital.
In the 1980s, firms focused on position issues such as the building of industry stature.
Firms that take a differentiation position try to satisfy basic rather than highly
specialized customer needs.
The matrix structure provides flexibility because it organizes teams around special
projects or markets.
Two countries with a strong orientation toward shareholders’ rights are the United
States and the United Kingdom of Great Britain.
An unqualified opinion is a statement on the auditor’s opinion that the audit reflects
certain limitation, such as financial irregularities.
Globalization is the evolution of distinct geographic product markets into a state of
globally interdependent product markets.
When managers rationally evaluate the probability of risks, they tend to underestimate
their ability to control these risks.