WGU C432 Healthcare Management and Strategy Already Passed
Acquisition ✔✔The purchase (or merger) of an existing organization
broad differentiation strategy ✔✔type of strategy aimed at offering products that consumers perceive to be distinct from competitor's products and that appeal to a wide segment of a market
Broad low-cost strategy ✔✔type of strategy aimed at providing low-cost products to a broad customer segment
Business model ✔✔the underlying structure of an organization; the means through which an organization creates and delivers value to its customers and earns revenues
Business-level strategy ✔✔the strategic scope and direction of strategic business units (SBUs)
Strategic business units (SBU) ✔✔focus on specific product/service lines while under the umbrella of corporate direction
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Corporate-level strategy ✔✔the overall strategic scope and direction of a corporation. primary function is to allocate capital funds to SBUs and decide which business to enter or exit
Customer Value ✔✔the perceived benefits of a product or service
Diversification ✔✔Strategic expansion into different businesses
Emergent Strategy ✔✔a pattern of actions that develop over time and become an organizations strategy de facto. identified by examining decisions that were made and the patterns that occurred as a result. also called realized strategy
First movers ✔✔organizations that are the earliest to enter a market or an industry
Focused differentiation strategy ✔✔strategy aimed at offering products that consumers perceive to be distinct from competitor's products and that appeal to a limited industry niche or customer segment
Focused factories ✔✔manufacturing strategy that concentrates on core (often single) products and a defined set of technologies and customers 2 / 3
Focused low-cost strategy ✔✔strategy aimed at providing low-cost products to a limited subset of the broad mass market
Four-firm concentration ratio ✔✔measure of market concentration calculated by summing the market shares of the four largest firms in a market
Functional-level strategy ✔✔strategic scope and direction at the operating division, department, or project level. driven by product or service line
Generic strategies ✔✔commonly used strategies that combine a target market and a type of differentiation
Herfindahl-Hirschman Index (HHI) ✔✔measure of market concentration calculated by squaring the market share percentage of each organization in a market and then summing the numbers
Horizontal expansion ✔✔the acquisition and/or merger of two or more organizations that produce similar products or services
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