Term
Planning & decision making |
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Definition
Planning – Planning types and models management by objectives, single use, standing (ongoing) &Contingencyspecific situation - uncontrollable/ scenario anticipate situation/ crisis plans prevention, preparation, containment
Decision making– Types of decisions: programmed & non-programmed, Conditions: certainty, risk, uncertainty, ambiguity & Decision making models classical - rational (logical), administrative (nonprogrammed, ambiguous, uncertainty), political (inconsistent viewpoints)/ Personal decision-making framework directive, analytical, conceptual, behavioural |
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Term
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Definition
General - outer most layer of external enviro, affects org indirectly
- sociological, political/legal, economic, technological, international & sometimes natural
- INTERNATIONAL - represents events originating in foreign countries & opportunities for local organisations in other countries
- TECHNOLOGICAL - includes scientific and technological advancements in industry and society at large
- SOCIOCULTURAL - represents the demographic characteristics, norms, customs & values of population, relevant to the org's area of operation
- ECONOMIC - represents overall health of country or region in which the org functions
- LEGAL/POLITICAL - includes federal, state & local govt regulations / political activities designed to control org behaviour
- NATURAL - the natural enviro i.e. plants, animals, rocks, natural resources (air, water,climate) and natural disaster
Task - next layer of external, affects org directly
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includes: customers, competitors, suppliers & labour market
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CUSTOMERS - people & organisations in the enviro who acquire goods/services from the org
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COMPETITORS - other orgs in the same industry / type of business that provide goods/ services to the same set of customers
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SUPPLIERS - provide the raw materials the org uses to produce its outputs
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LABOUR MARKET - the people available for hire by the org
Adapting to the enviro
- high vs low uncertainty
- forecasting & planning
- interorganisational partnerships
- mergers & joint ventures
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Term
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Definition
Corporate culture
- shared knowledge, beliefs, values and ways of thinking that develop within the org and guides behaviour of members
- artefacts (visible), values (invis) and underlying assumptions (invis)
- symbols, stories, heroes, slogans and ceremonies
- must adapt accordingly to external enviro - match strategic focus to needs for enviro i.e. external/internal & flexibillty/stability
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Term
Entrepreneurship / Intrapreneurship |
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Definition
Definitions the process of initiating a business venture, organising necessary resources and assuming associated risks and rewards
process of recognising the need for innovation & promoting it within an organisation Why / Benefits job creation, organisational innovation & diversityGuidelines for success an individual, market opp, adequate resources, business org, favourable enviro |
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