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-Backward Integration: assuming a function previously provided by a supplier
-BCG Growth-Share Matrix: sectioned into four quadrants and portrays a corporation’s portfolio investments.
-Competitive Advantage: determined by resource endowments; must identify strengths/weaknesses, combine core competencies, appraise profit potential, select strategy, and identify resource gaps.
-Core Competencies: a collection of corporate capabilities that cross divisional borders are widespread within a corporation, and is something that a corporation can do exceedingly well.
-Corporate Governance: the relationship among the board of directors, top management, and shareholders in determining the direction and performance of a corporation. ~BOD: role is to monitor, evaluate and influence, and initiate and determine. ~TM: responsible for the strategic management of a firm
-Corporate Level Strategies: growth (internal development, diversification, integration, partnership), stability (maintain status quo), retrenchment
-Decision Making Styles: rational analytical, intuitive emotional, and political negotiating
-Distinctive Competencies: a firm’s competencies that are superior to those of competitors
-Diversification: corporate growth strategy that expands product lines by moving into another industry. Related- firm uses current strengths to diversify into related products in another industry; Unrelated- move into another industry to provide products unrelated to its current products.
-Economic Features of Industry: market size, growth rate, number of buyers/sellers, geographic coverage, pace of change, economies of scale.
-Factors in Making Strategic Choices: risk, external pressure from stakeholders, desires/powers of top managers, and TIME
-Financial Ratio Analysis: Compare ratios across 3-5 year trends; Compare ratios to “like” firms (SIC codes, direct

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