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45 Cards in this Set

  • Front
  • Back
____ are called the action steps by which an organization intends to attain its strategic goals
strategic plans
Of the strategic management functions, which is considered the most fundamental
The planning process starts with:
a formal mission that defines the organization's purpose
A statement that identifies distinguishing characteristics of an organization is know as a ____
mission statement
To remain competitive, companies should develop strategies that focus on core competencies, providing synergy, and creating value for ____
____ refers to a desired future state that an organization attempts to realize
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:
strategic management
Which of the following is a business activity that an organization does especially well relative to is competition?
core competence
____ level strategy pertains to the major functional departments within the business unit.
Sears' decision to sell off much of its financial services division is an example of a:
corporate-level strategy
When Coca-Cola introduced Surge, a new citrus soft drink, what type of strategy was being pursued?
Business-level strategy
____ specify future ends and ____ specify today's means
goals; plans
Managers are often referred to as:
decision makers
Which of the following is a choice made from available alternatives
Programmed decisions are made in response to ____ organizational problems
Examples of non-programmed decisions would include the decision to:
develop a new product or service
Which of the following means that all the information the decision-maker needs is fully available?
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?
Which of the following refers to the deployment of organizational resources to achieve strategic goals?
Organizational structure is defined as the:
framework in which the organization defined how tasks are divided, resources are deployed, and departments are coordinated
The organization chart:
all choices
The adoption of a new idea or behavior by an organization is known as organizational ____.
____ refers to innovations in products, services, or processes that radically change an industry's rules of the game for producers and consumers.
disruptive innovation
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 ____.
all of the following are characteristics of creative individuals except ____.
4 levels of goal planning
mission statement, strategic goals/ plans (senior management), tactical goals/ plans (middle management), operational goals/plans (departments)
MBO process
Set goals, develop action plans, review process, appraise overall performance.
MBO benefits
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.
Criteria for effective goals
specific and measurable, defined time period, cover key result areas, challenging but realistic, linked to rewards.
Organizational Planning Process
1. develop the plan
2. translate the plan
3. plan operations
4. execute the plan
5. monitor and learn
Strategic planning
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.
Elements of competitive advantage
target customers, achieve synergy, create value, exploit core competence
Global Corporate Strategies
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
Functional Level Strategy
action plans used by major departments to support the execution of business-level strategy
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
Programmed decisions
involve situations that have occurred often enough to enable decision rules to be developed and applied in the future. Ex. reorder paper
Non-programmed decisions
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
6 steps in the decision making process
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
Personal decision framework
Situation: programmed/nonprogrammed, classical, administrative, political, decision steps
Personal Decision: directive, analytical, conceptual, behavioral
Decision Choice: best solution to the problem
is the formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve organizationally desired outcomes.
is the duty to perform the task or activity as assigned.
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.
the process managers use to transfer authority and responsibility to positions below them in the hierarchy
Tactics for overcoming resistance to change
communication/education, participation, negotiation, coercion, top management support
Concept of force field analysis
change is a result of the competition between driving and restraining forces.