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Definition
| what your business stands for |
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Definition
| Strengths, Weaknesses, Opportunities, and Threats |
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| Internal analysis; positive features that give the firm an advantage; CAN DO |
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| Internal analysis; negative features that place the firm at disadvantages; CAN'T DO |
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| External analysis; favorable conditions that could help/enhance the firms performance |
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| External analysis; unfavorable conditions that could hurt the firms performances |
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symptoms: indicators, red flags, signs, evidence
problems: issues, what might cause declining productivity
You need to solve the problems not the symptoms |
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| major part of a firm called, Strategic Business Unit, that has its own mission, competition, customers, suppliers |
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Definition
Horizontal Axis = Market Shares
Vertical Axis = Market Growth Rate
Stars - Grow or Retrench
Problem Childs - Grow or Divest
Cash Cows - Harvest or Retrench
Dogs - Harvest or Divest
[image] |
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Term
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Definition
| Grow, Retrench, Divest, Harvest |
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Term
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Definition
acquisition - buy someone else (ex. Facebook bought IG)
product development - new product same market
market development - same product new market
diversification - new product new market (Canon... office equipment)
market penetration - same product same market, get users to buy more (credit cards) |
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Definition
- To protect/defend
- advertise |
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Definition
- sell off
- get rid of
- put sale money back into company |
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Definition
- milk the cow
- reap the benefits
- don't necesarily put money back into company
(Land line phones) |
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Term
| Define Deparmentalization |
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Definition
| the manner in which divided task are combined and allocated to work groups |
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Term
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Definition
- function
- process
-product/service
- customer
- geography/location
- time
- sequence |
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Term
| Organizational Charts by Henri Fayol's Principles |
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Definition
- Division of Work
- Scalar Chain of Command
- Unity of Command
- Unity of Direction
- Responsibility and Authority
- Centralization
- Gnagplanking
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Term
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Definition
| assignment of various portions of a particular task among a number of organization members |
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Term
| define Scalar Chain of Command |
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Definition
| Top to bottom, who reports to who |
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Term
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Definition
| is the management principle that recommends that an individual have only one boss |
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Term
| define Unity of Direction |
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Definition
| the following of the Mission Statement |
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Term
| define Responsibility and Authority |
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Definition
| parity principle, should be equal |
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Term
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Definition
| few key people make decisions usually on top |
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Definition
if the supervisor is not there, report to another supervisor, and then check back with your original supervisor when he returns, don't over do it
- report
- don't over do it |
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Term
Span of Control
Span of (Mangement) |
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Definition
the number of individuals a manger supervises
- simlarity of functions (larger span if same)
- geographic continuity (larger span if together)
- complexity of functions (small span if complex)
- coordination and planning (small span if more time spent)
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Term
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Definition
indicates the number of possible relationships that might exist between the manager and the subordinates
c = n((2^n/2) + n-1) |
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Term
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Definition
is the actual process of assigning job activities and corresponding authority to specific individuals within the organization
You can't delegate responsibility |
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Term
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Definition
- Take advantage of other expertise
- Groom or develop subordinates
- Enhance capability to perform own job
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Term
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Definition
- Fear, loss of control, or afraid that they'll appear weak
- Lack of trust in subordinates capablities
- Subordinates generally cant handle or don't want responsibility
- May not have anyone to delecate to... Small Firms
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Term
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Definition
- Line Authority
- Staff Authority
- Fuctional Authority
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Term
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Definition
key decision makers and possess the right to give orders; scalar chain of command is unbroken from top to bottom
ex. Finance, Production, Marketing, Sales |
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Term
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Definition
they're there to support, advise, and counsel
ex. Human Resources, Legal, Accounting |
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Term
| define Functional Authority |
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Definition
the right to give orders that typically don't exist
- for a temporary period of time in a special product
- represented by a dotted line relationship
- oversees line authority during temporary period of time |
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Term
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Definition
an obligation to do something with the expectation of achieving some act or output
- rests with the person who agrees to the task |
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Definition
| power that has been legitimized within a particular social context |
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Term
| define Position Authority |
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Definition
stems or arises from ones' place on the organizational chart
- also called the legitimate authority |
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Term
| define Acceptance Authority |
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Definition
| arises from the supervised period, they accept or reject the supervisors' authority |
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Term
| Centralization and Decentralizatoin |
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Definition
| describes the general degree to which delegation exists within an organization |
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Term
| Centralization v Decentralization |
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Definition
centralization - few key people make decisions
decentralization - many more people are involved in decision making |
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Term
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Definition
the write who probably had the most profound influence on classical organizing theory
- detailed rules
- clearly outlined organizational hierarchy
- impersonal relatinonships
- believed would enhance efficiency |
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Term
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Definition
| critical path is the longest path, if there's any delay than it slows down the entire project |
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