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10 Cards in this Set
- Front
- Back
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Planning
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the process of coping with uncertainty by formulating future courses of action to achieve specified results
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State Uncertainty
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occurs when the environment, or a portion of it, is considered unpredictable
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Effect Uncertainty
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when a manager attempts to predict the effects of specific environmental changes/events on the organization
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Response Uncertainty
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inability to predict the consequences of a particular decision or organizational response
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3 Types of Environmental Uncertainty
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state, effect, response
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Defender, Prospector, Analyzer, Reactor
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positions taken by organizations to cope with environmental uncertainty
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Defenders
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attention devoted to efficiency of current operations; experts in a narrow market and not seeking to branch out
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Prospectors
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constantly search for new opportunites, which leads to a loss of efficiency; source of change and uncertainty for competitors
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Analyzers
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follows the leader in a stable market, focus on efficiency of operations, "me too" strategy, don't take many risks
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Reactors
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opposite of prospector--wait for adversity, don't necessarily seek out change, only make adjustments when forced to by market changes; least profitable
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