Management Ch.4

Front 1

General Environment

Back 1

cultural, economic, legal political, and educational conditions

Front 2

specific environment

Back 2

people and group with whom an organazation interacts

Front 3

value creation

Back 3

creating value and satisfying the needs of stakeholders

Front 4

environmental uncertainty

Back 4

lack of complete information about the environment

Front 5

Organization culture

Back 5

system of shared beliefs and values in an organization

Front 6

value based management

Back 6

actively develops communicates, and enacts shared values

Front 7

symbolic leader

Back 7

uses symbols to establish and maintain desired organizational culture

Front 8

subcultures

Back 8

exist among people with similar values and beliefs based on shared work and responisbilities

Front 9

multicultural organization

Back 9

based on pluralism and operates inclusivley

Front 10

biculturalism

Back 10

is when minorities adapt to succeed.

Front 11

managing diversity

Back 11

building an inclusive work environment so that everyone reaches their potentials

Front 12

Objectives

Back 12

specific results someone wishes to achieve

Front 13

plan

Back 13

statement of intended means for accomplishing objectives

Front 14

hierarchy of objectives

Back 14

lower level objectives are means to accomplishing higher level ones

Front 15

strategic plan

Back 15

identifies long term directions for the organization

Front 16

operational plan

Back 16

identifies activities to implement strategic plans

Front 17

policy

Back 17

a plan that communicates guidelines for decisions

Front 18

procedure or rule

Back 18

describes actions to be taken during a situation

Front 19

budget

Back 19

plan that commits resources to projects

Front 20

zero based budget

Back 20

allocates resources as if each budget was brand new

Front 21

projects

Back 21

one time activities that have clear beginnings and ends

Front 22

project management

Back 22

makes sure that activities required to complete a project are accomplished on time correctly

Front 23

contingency planning

Back 23

identifies alternate courses when things go wrong

Front 24

senario planning

Back 24

identifies alternate plans for future senarios to deal with each problem

Front 25

benchmarking

Back 25

uses external comparisons to gain insights for planning

Front 26

best practices

Back 26

things that lead to superior performance

Front 27

participatory planning

Back 27

includes the persons who will be affected by plans and who will implement them

Front 28

MBO

Back 28

is a process of joint objective setting between a superior and subordinate

Front 29

strategy

Back 29

is a comprehensive plan guiding resource allocation

Front 30

strategic intent

Back 30

focuses and applies organizational energies of a unifying and compelling goal

Front 31

strategic management

Back 31

is the process of formulating and implementing strategies

Front 32

mission

Back 32

organizations reason for existance in society

Front 33

organizational culture

Back 33

is the predominant value system for the organization as a whole

Front 34

operating objectives

Back 34

specific results that organizations try to accomplish

Front 35

core competency

Back 35

special strength that gives an organization its competitive advantage

Front 36

corporate strategy

Back 36

long term direction

Front 37

business strategy

Back 37

how a business will compete in its product/service domain

Front 38

fuctional strategy

Back 38

guides activities within one specific area of operations

Front 39

growth strategy

Back 39

involves expansion of the organizations current operations

Front 40

growth thru concentration

Back 40

growth in the same business area.

Front 41

diversification

Back 41

aquisition or investment in another area.

Front 42

vertical integration

Back 42

aquiring suppliers or distributors.

Front 43

retrenchment strategy

Back 43

changes operations to correct weaknesses

Front 44

restructuring

Back 44

reduces the scale and mix of operations

Front 45

divestiture

Back 45

sells off parts of the organization to refocus attention on core business areas

Front 46

multidomestic strategy

Back 46

customizes products and advertising to best fit local needs

Front 47

transnational strategy

Back 47

global operations with attention to local markets

Front 48

focused cost leadership

Back 48

strategy seeks lowest costs of operations within a special market segement

Front 49

BCG

Back 49

Boston Consulting Group

Front 50

portfolio planning

Back 50

approach seeks the best mix of investments among business opportunities

Front 51

emergent strategy

Back 51

develops over time as managers learn from and respond to experience