Review for Final: Important Concepts

When you are reviewing the following concepts, ask yourself the questions: “what does it mean?” “Does it closely relate to other concepts?” “How may I explain it to my managers and/or subordinates and/or my friends?”

1. Global Competition
2. Cost reduction versus local responsiveness
3. Four Global Strategies
4. Different entry methods for global expansion
5. Vertical integration
6. Diversification
7. Alliances/long term contracts
8. Portfolio planning
9. BCG Matrix
10. Internal new ventures/acquisitions
11. Organization structure: Differentiation(vertical/horizontal) and integration
12. Span of control
13. Different kinds of organization structures
14. Elements of strategic control
15. Balanced scorecard
16. Reward systems
17. Matching structure/control to strategy
18. Strategic change
19. Decision making(rational and political views)
20. Power and politics
21. How to analyze a case