Management Exam #2 2/26/14

Front 1

____ are called the action steps by which an organization intends to attain its strategic goals

Back 1

strategic plans

Front 2

Of the strategic management functions, which is considered the most fundamental

Back 2

planning

Front 3

The planning process starts with:

Back 3

a formal mission that defines the organization's purpose

Front 4

A statement that identifies distinguishing characteristics of an organization is know as a ____

Back 4

mission statement

Front 5

To remain competitive, companies should develop strategies that focus on core competencies, providing synergy, and creating value for ____

Back 5

customers

Front 6

____ refers to a desired future state that an organization attempts to realize

Back 6

goal

Front 7

The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals is known as:

Back 7

strategic management

Front 8

Which of the following is a business activity that an organization does especially well relative to is competition?

Back 8

core competence

Front 9

____ level strategy pertains to the major functional departments within the business unit.

Back 9

functional

Front 10

Sears' decision to sell off much of its financial services division is an example of a:

Back 10

corporate-level strategy

Front 11

When Coca-Cola introduced Surge, a new citrus soft drink, what type of strategy was being pursued?

Back 11

Business-level strategy

Front 12

____ specify future ends and ____ specify today's means

Back 12

goals; plans

Front 13

Managers are often referred to as:

Back 13

decision makers

Front 14

Which of the following is a choice made from available alternatives

Back 14

strategy

Front 15

Programmed decisions are made in response to ____ organizational problems

Back 15

recurring

Front 16

Examples of non-programmed decisions would include the decision to:

Back 16

develop a new product or service

Front 17

Which of the following means that all the information the decision-maker needs is fully available?

Back 17

certainty

Front 18

Which of the following means that a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to chance?

Back 18

risk

Front 19

Which of the following refers to the deployment of organizational resources to achieve strategic goals?

Back 19

Organizing

Front 20

Organizational structure is defined as the:

Back 20

framework in which the organization defined how tasks are divided, resources are deployed, and departments are coordinated

Front 21

The organization chart:

Back 21

all choices

Front 22

The adoption of a new idea or behavior by an organization is known as organizational ____.

Back 22

change

Front 23

____ refers to innovations in products, services, or processes that radically change an industry's rules of the game for producers and consumers.

Back 23

disruptive innovation

Front 24

The innovation strategy for changing products and technologies that involves designing the organization to encourage creativity and the initiation of new ideas is known as ____.

Back 24

exploration

Front 25

all of the following are characteristics of creative individuals except ____.

Back 25

rationality

Front 26

4 levels of goal planning

Back 26

mission statement, strategic goals/ plans (senior management), tactical goals/ plans (middle management), operational goals/plans (departments)

Front 27

MBO process

Back 27

Set goals, develop action plans, review process, appraise overall performance.

Front 28

MBO benefits

Back 28

focuses manager and employee efforts on activities that will lead to goal attainment. Can improve performance at all company levels. Improves employee motivation, and aligns individual and departmental goals with company goals.

Front 29

Criteria for effective goals

Back 29

specific and measurable, defined time period, cover key result areas, challenging but realistic, linked to rewards.

Front 30

Organizational Planning Process

Back 30

1. develop the plan
2. translate the plan
3. plan operations
4. execute the plan
5. monitor and learn

Front 31

Strategic planning

Back 31

set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Front 32

Elements of competitive advantage

Back 32

target customers, achieve synergy, create value, exploit core competence

Front 33

Global Corporate Strategies

Back 33

Globalization: treats world as a single market, standardizes global product/advertising
Transnational: seeks to balance global efficiencies and local responsiveness, combines standardization and customization
Export: domestically focused, exports a few domestically produced products to selected countries
Multidomestic: handles markets independently for each country, adapts products/ advertising

Front 34

Functional Level Strategy

Back 34

action plans used by major departments to support the execution of business-level strategy

Front 35

BCG

Back 35

Boston Consulting Group: Stars: rapid growth and expansion. Question marks: new ventures, risky-few become stars, Cash Cows: milk to finance question marks and starts, Dogs: no investment, keep if some profit, consider disvestment

Front 36

Programmed decisions

Back 36

involve situations that have occurred often enough to enable decision rules to be developed and applied in the future. Ex. reorder paper

Front 37

Non-programmed decisions

Back 37

made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization. Ex. Sprint carrying the iPhone

Front 38

6 steps in the decision making process

Back 38

1. recognition of decision requirement
2. diagnosis and analysis of causes
3. development of alternatives
4. selection of desired alternative
5. implementation of chosen alternative
6. evaluation and feedback

Front 39

Personal decision framework

Back 39

Situation: programmed/nonprogrammed, classical, administrative, political, decision steps
+
Personal Decision: directive, analytical, conceptual, behavioral
=
Decision Choice: best solution to the problem

Front 40

Authority

Back 40

is the formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve organizationally desired outcomes.

Front 41

Responsibility

Back 41

is the duty to perform the task or activity as assigned.

Front 42

Accountability

Back 42

means that the people with authority and responsibility are subject to reporting and justifying task outcomes to those above them in the chain of command.

Front 43

Deleegation

Back 43

the process managers use to transfer authority and responsibility to positions below them in the hierarchy

Front 44

Tactics for overcoming resistance to change

Back 44

communication/education, participation, negotiation, coercion, top management support

Front 45

Concept of force field analysis

Back 45

change is a result of the competition between driving and restraining forces.