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95 Cards in this Set
- Front
- Back
Sale by a company of an asset that is not performing well, that is not core to the company's business, or that is worth more as a separate entity.
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Divestiture
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Systematic tool for gathering, storing, maintaining, retrieving, and revising HR data.
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Human resource information system (HRIS)
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Form of budgeting in which the prior budget is the basis for allocation of funds.
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Incremental budgeting
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Techniques for communicating information about products to consumers.
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Promotion
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Involves data that is gathered firsthand for a specific evaluation.
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Primary research
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Measure that indicates how much scores in a set of data are spread out around a mean or average.
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Standard deviation
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Research method in which certain factors (variables) are manipulated and the results are examined.
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Scientific method
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Based on research that uses open-ended interviewing to explore and understand attitudes, opinions, feelings, and behavior.
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Qualitative analysis
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Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
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Due diligence
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Combined knowledge, skills, and experience of a company's employees.
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Human capital
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Organizational structure that defines departments by what services they contribute to the organization's overall mission.
organization is usually more centralized, and its departments are specialized |
Functional structure
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Uses data already gathered by others and reported in various sources.
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Secondary research
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Process to measure the effectiveness and efficiency of HR programs and positions.
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HR audit
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System of moral principles and values that establish appropriate conduct.
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Ethics
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Process of planning, pricing, promoting, and distributing goods and services to satisfy organizational objectives.
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Marketing
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Refers to the number of individuals who report to a supervisor.
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Span of control
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Point below which 50% of scores in a set of data lie.
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Median
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Process that surveys and interprets relevant data to identify external opportunities and threats.
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Environmental scanning
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What an organization sells to make a profit.
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Product
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Work groups that conduct the major business of an organization.
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Line units
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Organizational structure that combines departmentalization by division and function to gain the benefits of both.
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Matrix structure
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Proposal presented to a legislative body for possible enactment as a law.
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Bill
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Legislative measure limited in effect to either the Congress or one of its chambers.
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Resolution
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Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
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Public comment period
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Seeks to obtain easily quantifiable data on a limited number of measurement points.
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Quantitative analysis
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Principles of conduct within an organization that guide decision making and behavior.
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Code of ethics
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Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.
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Break-even analysis
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Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
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Decentralization
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Measurement approach that provides an overall picture of an organization's performance as measured against goals in finance, customers, internal business processes, and learning and growth.
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Balanced scorecard
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To an operations department, the act of detailed planning; based upon incoming orders, order history, and forecasts of future demand.
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Scheduling
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Portion of a population used to draw conclusions regarding an entire population.
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Sample
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Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.
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Population
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Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
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Foreign Corrupt Practices Act (FCPA)
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Research in which the researcher controls and manipulates elements of the research environment to measure the impact of each variable.
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Experiment
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Ability of an instrument to measure what it is intended to measure.
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Validity
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Vehicle for collecting information on an organization's current strengths, weaknesses, opportunities, and threats.
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SWOT analysis
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Amount of owners' or shareholders' portion of a business.
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Equity
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Specific point in a distribution of data that has a given percentage of cases below it.
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Percentile
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Money an organization owes its vendors and suppliers.
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Accounts payable
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Serve a purpose similar to short-term objectives but are completed in one to three years.
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Mid-term objectives
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Calculation that measures the economic return on a project or investment.
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Return on investment (ROI)
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Process that helps an organization focus on how to succeed in the future by evaluating the organization's current status, where it would like to be, and how to get there.
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Strategic planning
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Organization's debts and other financial obligations.
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Liabilities
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To an operations department, the ability to yield output.
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Capacity
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Series of tasks and activities that has a stated goal and objectives, a schedule with defined start and end dates, and a budget that sets limits on the use of monetary and human resources.
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Project
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Organizational structure in which divisions are separated by product, customer or market, or region.
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Divisional structure
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Group of people born after 1980.
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Generation Y
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Provide the direction that enables an organization to achieve its long-term objectives.
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Strategies
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Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals
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Human resource management (HRM)
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Processes and activities used to formulate HR objectives, practices, and policies.
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Strategic management
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Work groups that assist line units by performing specialized services, such as HR.
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Staff units
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Money an organization's customers owe the organization.
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Accounts receivable
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Measure that indicates the relationship between two variables.
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Correlation
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Ability of an instrument to measure consistently.
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Reliability
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Value that occurs most frequently in a set of data.
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Mode
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Specifies what the company does, who its customers are, and the priorities it has set in pursuing its work.
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Mission statement
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Specific results, accomplished in three to five years, that an organization seeks to achieve in pursuing its mission.
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Long-term objectives
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Action of canceling or postponing a decision or bill.
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Veto
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Estimate of the total value of goods and services produced in a country in a given year.
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Gross domestic product (GDP)
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Expected distribution given a random sampling of people across a large population.
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Normal distribution
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Group of people born roughly between the years of 1965 and 1980.
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Generation X
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Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.
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Formula budgeting
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Number of members of an organization that have to be present before official business may be conducted.
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Quorum
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Measure that refers to the causal effect of one variable upon another.
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Regression
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Specific, testable prediction that is derived from a theory and describes a relationship between two variables.
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Hypothesis
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To an operations department, an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs. three steps are observe, compare, and decide.
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Control
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Describe what is important to an organization, dictate employee behavior, and create the organization's culture.
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Values
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Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.
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Inductive reasoning
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Statement explaining revenues, expenses, and profits over a specified period of time, usually a year or a quarter.
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Income statement
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Short-term alliance between independent organizations in a potentially long-term relationship to design, produce, and distribute a product.
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Virtual organization
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Business function responsible for selling an organization's product to the marketplace.
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Sales
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Measure that indicates the relationship between data items using x and y axes.
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Scatter diagram
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Distance between highest and lowest scores in a set of data.
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Range
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Rule or order issued by a government agency; often has the force of law.
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Regulation
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Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
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Cost-benefit analysis
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Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members.
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Sandwich generation
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Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
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Zero-based budgeting
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Project management tool used to schedule, organize, and coordinate tasks within a project.
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Program evaluation review technique (PERT) chart
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For an operations department, provide the yardstick by which the amount and quality of output are measured.
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Standards
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Vivid, guiding image of an organization's desired future.
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Vision statement
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Relocation of processes or functions from a "home" country to another country.
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Offshoring
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Modification of the Constitution or a law; may be either formal (written) or informal (unwritten).
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Amendment
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4 phases of a strategic plan
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1) formulation
2) development 3) implementation 4) evaluation |
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Systematic process of gathering and analyzing all relevant data about external opportunities.
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Environmental scanning
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3 commonly used budgeting methods
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1) incremental
2) formula 3) Zero based |
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Statement of a firm's financial position at a particular time.
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Balance sheet
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Degree to which decision-making authority is restricted to higher levels of management in an organization.
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Centralization
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Global network that delivers products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.
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Supply chain
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To an operations department, an organization's major asset after physical buildings and equipment.
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Inventory
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Evolution of a company. 4 phases.
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1) introduction
2) Growth 3) maturity 4) decline |
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Low cost producer with low cost advantage. Find & exploit all sources of cost advantage. Depend on volume to provide profit.
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low-producer (strategy)
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Set products and services apart for competitors. Consumers will pay a premium price for product.
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Differentiation Strategy
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Focus on particular buyer group, or geographical market. built around serving a particular target well. Small segment, more effective.
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Focus Strategy
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Key concepts in research & analysis of performance audits. (5)
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1) inductive & deductive reasoning
2) Primary & secondary research 3) experimental research 4) quantitative & qualitative analysis 5) Reliability & valitdity |
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5 steps in the scientific method
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1) Problem analysis
2) Hypothesis formulation 3) Experimental design 4) Data collection 5) Data analysis |