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112 Cards in this Set

  • Front
  • Back
practices aimed at discovering and harnessing anorganization’s intellectual resources
theintroduction of new goods and services; a change in method or technology; apositive, useful departure from previous ways of doing things; also improvementor enhancement of existing goods and services
the excellence of your product (good or service)


thespeed and dependability with which an organization delivers what customers want


fastand timely execution, response, and delivery of results

Cost competitiveness

keepingcosts low to achieve profits and be able to offer prices that are attractive toconsumers
theeffort to minimize the use of resources, especially those that are pollutingand nonrenewable


the process of working with people and resources toaccomplish organizational goals


themanagement function of systematically making decisions about the goals andactivities that an individual, a group, a work unit, or overall organizationwill pursue; see also strategic planning


themonetary amount associated with how well a job, task, good, or service meetsusers’ needs


themanagement function of assembling and coordinating human, financial, physical,informational, and other resources needed to achieve goals


themanagement function that involves the manager’s efforts to stimulate highperformance by employees


the management function of monitoring performance and makingneeded changes

Top-level managers

seniorexecutives responsible for the overall management and effectiveness of theorganization

Middle-level managers

managerslocated in middle layers of the organizational hierarchy, reporting, to toplevel executives

Front-line managers

lower-level managers who supervise the operational activities of the organization

Technical skill

the ability to perform a specialized task involving aparticular method or process
Conceptualand decision skills
skillspertaining to the ability to identify and resolve problems for the benefit ofthe organization and its members
Interpersonaland communication skills
people skills, the ability to lead, motivate, andcommunicate effectively with others
the skills of understanding yourself, managing yourself, anddealing effectively with others
Goodwill stemming from your social relationships; acompetitive advantage in the form of relationships with other people and theimage other people have of you
organizationsthat are affected by, and that affect, their environment


goodsand services organizations take in and use to create products or services


theproducts and services organizations create


allrelevant forces outside a firm’s boundaries, such as competitors, customers,the government, and the economy

theimmediate environment surrounding a firm; includes suppliers, customers,rivals, and the like
thegeneral environment; includes governments, economic conditions, and otherfundamental factors that generally affect all organizations
measuresof various characteristics of the people who make up groups or other socialunits
Barriersto entry
conditionsthat prevent new companies from entering an industry
fixedcosts buyers face when they change suppliers
whenmanagers do not have enough information about the environment to understand orpredict the future
searchingfor and sorting through information about the environment = competitiveenvironment
information that helps managers determine how to competebetter
anarrative that describes a particular set of future conditions
methodfor predicting how variables will change the future
theprocess of comparing an organization’s practices and technologies with those ofother companies
anorganization’s conscious efforts to change the boundaries of its taskenvironment
entering a new market or industry with an existing expertise
a firm’s investment in a different product, business, orgeographic area
oneor more companies combining with another
onefirm buying another
afirm selling one or more businesses
companiesthat continuously change that boundaries for their task environments by seekingnew products and markets, diversifying and merging, or acquiring newenterprises
companiesthat stay within a stable product domain as a strategic maneuver EXAMPLE:Staples
theprocess of sharing power with employees, thereby enhancing their confidence intheir ability to perform their jobs and their belief that they are influentialcontributors to the organization
creatingsuppliers of excess resources in case of unpredictable need
levelingnormal fluctuations at the boundaries of the environment
methodsfor adapting the technical core to changes in the environment = customizedproducts
the patterns of attitudes and behavior thatshape people’s experience of an organization
decisionsencountered and made before, having objectively correct answers, and solvableby using simple rules, policies, or numerical computations
new, novel, complex decisions having no proven answers
the state that exists when decision makers have accurate andcomprehensive information
thestate that exists when decision makers have insufficient information


the state that exists when the probability of success isless than 100 percent and losses may occur
opposingpressures from different sources, occurring on the level of psychologicalconflict or conflict between individuals or groups
new,creative solutions designed specifically for the problem
alternativecourses of action that can be implemented based in how the future unfolds


a decisionrealizing the best possible outcome


choosingan option that is acceptable, although not necessarily the best or perfect


achievingthe best possible balance among several goals


a processin which a decision maker carefully executes all stages of decision making

Illusionof control
people’sbeliefs that they can influence events even when they have no control over whatwill happen
a decision bias influenced by the way in which a problem ordecision alternative is phrased or presented
Discountingthe future
a biasweighting short-term costs and benefits more heavily than longer-term costs andbenefits


a phenomenonthat occurs in decision making when group members avoid disagreement as theystrive for consensus

Goal Displacement

a decision-makinggroup loses sight of its original goal and a new, less important goal emerges

Cognitive Conflict

issued-baseddifferences in perspectives or judgements

Affective Conflict

emotionaldisagreement directed toward other people

Devil's Advocate

a personwho has the job of criticizing ideas to ensure that their downsides are fullyexplored


a structureddebate comparing two conflicting courses of action


a processin which group members generate as many ideas about a problem as they can;criticism is withheld until all ideas have been proposed

The fundamental success drivers of performance are

Innovation, quality, service, speed, cost competitiveness, and sustainability

Managing for Competitive Advantage

Innovation, quality, service, speed, cost competitiveness, and sustainability

Total Quality

Preventing defects before they occur, achieving zero defects

Quality can be measured in terms of

product performance, customer service, reliability (avoidance of failure or breakdowns), conformance to standards, durability, and aesthetics

Planning #2

Specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve these goals

Functions of Management

planning, organizing, leading, and controlling

leading involves close day-to-day contact with people

helping to guide and inspire them toward achieving team and organizational goals.

Leading take place in

Teams, departments, and divisions as well as at the tops of large organizations

Top-level managers or Strategic managers

are supposed to focus on long-term issues and emphasize the survival, growth, and overall effectiveness of the organization

Middle-level managers or tactical managers

are responsible for translating the general goals and plans developed by strategic managers into more specific objectives and activites

Front-line managers or operational managers

are lower-level managers you supervise the operations of the organization

The technical skills you learn in school will provide you with

the opportunity to get an entry-level position

A common complaint about leaders, especially newly promoted ones who had been outstanding individual performers,

is that they lack what is perhaps the most fundamental of EQ skills: empathy. the issue is not lack of ability to change (you can), but the lack of motivation to change.


you should be an expert in something useful


Knowing enough about a variety of disciplines so that you can think strategically and work with different perspectives

The first question to consider is this:

Who is the competition?

Major barriers to entry are

Government policy, capital requirement, brand identification, cost disadvantages, an distribution channels


is a potential threat; customers use it as an alternative buying less of one kind of product but more of another


is a potential opportunity because customers buy more of a given product if they also demand more of the complementary product

Suppliers can

raise their prices or provide poor-quality goods and services

Organizations are at a disadvantage if they become overly dependent on any powerful supplier.

A supplier is powerful if they buyer has few other sources of supply or if the supplier has many other buyers.

Dependence also results form high switching costs

the fixed cost buyers face if they change suppliers

Customers are important to organizations for reasons other than the money

they provide for goods and services

Customers can demand

lower prices, higher quality, unique product specifications, or better service

The internet has

empowered customers further

Managers can ask questions such as these:

Who are our customer competitors?

Are there few or many entry barriers to our industry?

What substitutes exist for our product or service?

Is the company too dependent on powerful suppliers?

Is the company too dependent on powerful customers?

Business practices

how a company responds to problems, makes strategic decisions, and treats employees and customers tells a lot about what top management really values

Symbols, rites, and ceremonies

how the high rigid the hierarchy. who is fired and who is hired

The phases of decision making

identifying and diagnosing the problem, generating alternative solutions, evaluating alternatives, making the choice, implementing the decision, and evaluating the decision. starts over

Four challenges in managing in the New Competitive Landscape

1. Globalization

2. Technological Change

3. Knowledge Management

4. Collaboration across Boundaries


offices all over the world, production facilities in countries

Technological Change


Knowledge Management

a move from manual labor to knowledge workers, knowledge workers - decision making capability, knowledge solving skills: KSA = Knowledge, Skills, Advantage

Collaboration across Boundaries

to ensure that people in different parts of the organization collaborate efficiently with one another

Competitive Advantage

An advantage over competitors

Six fundamental success drivers

1. innovation

2. quality

3. service

4. Speed

5. Cost Competitiveness

6. Sustainability

Quality can be measured in terms of

1. product performance

2. customer service

3. reliability

4. Conformance to Standard

5. Durability

6. aesthetics


sight, sound, feel of a product

Four functions of management

planning, organization, leading, and controlling

Three Management Levels

1. top or strategic

2. middle or tactical

3. front line or operational

Three Management skills we need/must have

1. Technical skill

2. Conceptual and decision skills

3. interpersonal and communication skills aka people skills