Term
| four benefits to planning |
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Definition
1) check your progress
2) coordinate activities
3) think ahead
4) cope with uncertainty |
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Term
| four responses to uncertainty |
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Definition
1) defenders
2) prospectors
3) analyzers
4) reactors |
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Term
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Definition
experts at producing and selling narrowly defined products
ex: Harley Davidson, Brooks Brothers |
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Term
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Definition
focus on developing new products and in seeking out new markets, rather than waiting for things to happen
ex: Google |
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Term
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Definition
| let other organizations take the risks of product development and marketing and then imitate what seems to work best |
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Term
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Definition
| make adjustments only when finally forced to by environmental forces |
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Term
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Definition
expresses the purpose of the organization
identifies:
good and services the organization provides
reasons for providing them |
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Term
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Definition
-expresses what the organization should become
-where it wants to go strategically |
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Term
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Definition
| determine what the organizations long term goals should be for the next 1-5 years with the resources they expect to have available |
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Term
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Definition
| determine what contributions their departments can make during the next 6 to 24 months |
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Term
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Definition
| how to accomplish specific tasks within the next 1-52 weeks |
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Term
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Definition
1) standing plan
2) single use plan |
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Term
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Definition
for activities that occur repeatedly over a period of time
1) policy
2) procedure
3) rule |
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Term
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Definition
for activities not likely to be repeated in the future
1) program
2) project |
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Term
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Definition
| encompasses a range of projects or activites |
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Term
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Definition
less scope and complexity than a program
ex: US govt space program
Hubble telescope project |
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Term
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Definition
Specific
Measurable
Attainable
Results oriented
Target dates |
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Term
| why is strategic management important |
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Definition
1) direction and momentum
2) new ideas
3) sustainable competitive advantage |
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Term
| three principles of effective strategy |
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Definition
1) unique and valuable position
2) trade-offs in competing
3) fit among activities |
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Term
| types of unique and valuable positions |
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Definition
1) few needs, many customers: Jiffy Lube
2) broad needs, few customers: Bessemer for the rich
3) broad needs, many customers: Wal-Mart |
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Term
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Definition
1) mission/vision statement
2) establish the grand strategy
3) formulate the strategic plans
4) carry out the strategic plans
5) maintain strategic control |
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Term
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Definition
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Term
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Definition
| involves little or no significant change |
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Term
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Definition
| involves reduction in the organization's efforts |
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Term
| establishing the grand strategy |
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Definition
1) Growth, stability, defensive
2) SWOT analysis
3) forecasting |
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Term
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Definition
1) internal strengths
2) internal weaknesses
3) external opportunity
4) external threats |
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Term
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Definition
1) trend analysis
2) contingency planning |
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Term
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Definition
| hypothetical extension of a past series of events into the future |
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Term
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Definition
| creation of alternative hypothetical but equally likely future conditions |
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Term
| formulate the strategic plans |
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Definition
1) porters 5 competitive forces
2) porters 4 competitive strategies
3) product life cycle
4) competitive intelligence |
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Term
| porters 5 competitive forces |
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Definition
1) threats of new entrants
2) bargaining power of suppliers
3) bargaining power of buyers
4) threats of substitute products
5) rivalry among competitors |
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Term
| porters 4 competitive strategies |
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Definition
1) cost leadership
2) cost-focus
3) differentiation
4) focused-differentiation |
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Term
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Definition
1) introduction
2) growth
3) maturity
4) decline |
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Term
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Definition
| gaining information about ones competitors activities so that you can anticipate their moves and react appropriately |
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Term
| five forces model (definition) |
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Definition
| holistic way of looking at any industry for understanding the structural underlining drivers of profitability and competition |
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Term
| carry out the strategic plans |
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Definition
three core processes
1) people
2) strategy
3) operations |
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Term
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Definition
| who is going to get it done |
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Term
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Definition
where an organization wants to go
capability and competence |
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Term
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Definition
path for people to follow
marketing, production, sales |
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Term
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Definition
| choice made from among available alternatives |
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Term
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Definition
1) process of identifying and choosing alternative courses of action
BY:
1) different method
2) by scope
3) by audience |
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Term
| general decision making styles |
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Definition
1) directive
2) analytical
3) conceptual
4) behavioral |
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Term
| directive decision making style |
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Definition
-people are efficient, logical, practical and systematic
-autocratic, power, decisive, control and focus on the short run |
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Term
| analytical decision making style |
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Definition
-considers more information and alternatives
-tends to over-analyze
- tends to take longer to make decisions
- responds well to new or uncertain situations |
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Term
| conceptual decision making style |
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Definition
-takes broad perspective to problem solving
-considers many options
-rely on discussions with others to obtain info
-willing to take risks
-creative solutions |
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Term
| behavioral decision making style |
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Definition
-people oriented
-supportive, receptive to suggestions
-verbal info
-avoids conflict |
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Term
| rational decision making model |
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Definition
Stages
1) identify problems
2) think up alternative solutions
3) evaluate alternatives
4) implement and evaluate the chosen solution |
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Term
| nonrational decision making model |
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Definition
1) bounded rationality
2) satisfying model
3) incremental model
4) intuition model |
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Term
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Definition
| suggests that the ability of decision makers to be limited by complexity; time and money; different cognitive capacity; imperfect info; info overload; conflicting goals; etc |
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Term
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Definition
| managers seek alternatives until they find one that is satisfactory, not optimal |
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Term
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Definition
| managers take small, short term steps to alleviate a problem, instead of a long term solution |
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Term
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Definition
making a choice without the use of conscious thought or logical inference
holisitc hunch and automated experience |
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Term
| group decision making advantages |
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Definition
1) greater pool of knowledge
2) different perspectives
3) intellectual stimulation
4) better understanding of decision rationale
5) deeper commitment to the decision |
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Term
| group decision making disadvantages |
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Definition
1) domination of a few
2) groupthink |
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Term
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Definition
| when group members agree for the sake of unanimity and this avoid accurately assessing the decision situation |
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Term
| awareness in group decision making |
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Definition
1) less efficient
2) size affects decision quality
3) too much confidence |
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Term
| group problem solving techniques |
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Definition
1) brainstorming
2) computer-aided decision making |
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Term
| four ineffective responses to a decision situation |
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Definition
1) relaxed avoidance
2) relaxed change
3) defensive avoidance
4) panic |
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Term
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Definition
| take no action in the belief there will be no great negative consequences |
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Term
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Definition
| realizes negative consequences but opts for the 1st available alternative that involves low risk |
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Term
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Definition
| cant find a good solution and follows by procrastinating, passing the buck, or denying the risk of any negative consequences |
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Term
| 3 effective reactions to a decision situation |
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Definition
1) importance
2) urgency
3) credibility |
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Term
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Definition
| how high priority is this situation |
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Term
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Definition
| how quickly must i react on the information about the situation |
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Term
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Definition
| how believable is the information about the situation |
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Term
| six biases from Heuristics |
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Definition
1) availability
2) confirmation
3) representation
4) sunk cost
5) anchoring and adjustment
6) escalation of commitment |
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Term
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Definition
| a system of consciously coordinated activities or forces of 2 or more people |
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Term
| types of organizational culture |
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Definition
1) clan
2) adhocracy
3) market |
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Term
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Definition
-employee focused
-values flexibility rather than stability
-encourages collaboration
ex: SW airlines and Valero |
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Term
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Definition
-attempts to create innovative product by being adaptable, creative and quick to respond to changes
-ex: 3M and Pfizer |
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Term
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Definition
-focused on the external environment
-driven by competition and a strong desire to deliver
-ex: Meryl Lynch and Home Depot |
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Term
| how do employees learn culture |
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Definition
1) symbols
2) stories
3) heroes
4) rites and rituals |
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Term
| why is corporate culture important? |
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Definition
1) organizational identity
2) collective commitment
3) social-system stability
4) make sense of surroundings |
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Term
| three types of organizations |
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Definition
1) for profit
2) nonprofit
3) mutual-benefit |
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Term
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Definition
| box and lines illustration showing the formal lines of authority and the organizations official positions or work specializations |
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Term
| elements of an organization |
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Definition
1) common purpose
2) coordinated effort
3) division of labour
4) hierarchy of authority
5) pan of control
6) authority, responsibility and delegation |
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Term
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Definition
| many levels with narrow span of control |
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Term
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Definition
| few levels with wide span of control |
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Term
| types of organizational structures |
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Definition
1) simple
2) functional
3) divisional
4) matrix
5) team-based
6) network
7) modular |
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Term
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Definition
| authority is centralized in a single person with few rules and low work specialization |
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Term
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Definition
| people with similar occupations specialties are put together in formal groups |
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Term
| advantages of functional structure |
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Definition
1) work done by highly qualified specialists
2) lowers cost by reducing duplication
3) communication/coordination are less problematic |
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Term
| disadvantages of functional structure |
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Definition
1) people more interested in doing whats right for group rather than organization
2) office politics
3)cross functional coordination is difficult
4) slower decision making |
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Term
|
Definition
| people with diverse occupational specialties are put together in formal groups |
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Term
| advantages of divisional structure |
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Definition
1) manager an employees have broader set of experiences and expertise of entire product line
2) easy to assess work-unit performance
3) fewer conflict and faster decision making |
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Term
| disadvantages of divisional structure |
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Definition
| 1) duplication of resources |
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Term
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Definition
| an organization combines functional and divisional chains of command in a grid so there are 2 command structures |
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Term
| advantages of matrix structure hybrid |
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Definition
| 1) efficiency avoids duplication and a quick pool of available resources |
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Term
| disadvantages of matrix structure hybrid |
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Definition
| 1) confusion and conflict: disagreement and misunderstanding |
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Term
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Definition
| the organization has a central core that is linked to outside independent firm via computer connections |
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Term
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Definition
| a form assembles product chunks, or modules provided by outside contractors (Bombardier plane) |
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Term
| Human resource management process |
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Definition
1) recruitment
2) selection
3) training
4) evaluation
5) compensation/benefits
6) separation |
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Term
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Definition
consists of developing a systematic comprehensive strategy for
1) understanding current employee needs
2) predicting future employee needs |
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Term
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Definition
1) job analysis
2) job description
3) job specification |
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Term
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Definition
| determining the basic elements of a job by observation and analysis (UPS guy) |
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Term
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Definition
| summarizes what the holder of a job does and why they do it |
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Term
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Definition
| describes the minimum qualifications a person must have to perform a job successfully |
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Term
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Definition
| the process of locating and attracting qualified applicants for jobs open in the organization |
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Term
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Definition
| handwritten ads for jobs on bathroom walls and it worked |
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Term
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Definition
| gives a candidate a picture of both the positive and negative features of a job and the organization before he is hired (people quit less and are more satisfied) |
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Term
| candidate selection process |
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Definition
1) background information
2) interviewing
3) employment tests |
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Term
|
Definition
1) application form
2) resume
3) reference checks |
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Term
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Definition
1) structured
2) unstructured |
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Term
|
Definition
1) personality
2) ability
3) performance
4) drug
5) polygraph
6) genetic screening |
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Term
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Definition
1) 56% falsehood
2) employment history
3) age, salary history
4) job titles
5) achievements |
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Term
|
Definition
| no fixed set of questions and no systematic scoring procedure |
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Term
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Definition
| asks each applicant the same set of questions and comparing responses to a standardized set of answers |
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Term
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Definition
| what is required, how work is evaluated, who are co-workers and managers |
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Term
| organization's mission and operations |
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Definition
| products, services, and history |
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Term
| organization's work rules and employee benefits |
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Definition
| overtime requirements, grievance procedures |
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Term
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Definition
gives employees the information they need to be successful
1) job routine
2) mission and operations
3) work rules and employee benefits |
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Term
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Definition
| updating/upgrading skills of technical and operational employees in how to better do their current jobs |
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Term
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Definition
| educating professionals and managers in the skills they need to do their jobs in the future |
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Term
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Definition
1) on the job
2) off the job |
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Term
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Definition
1) on the job training
2) apprenticeships |
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Term
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Definition
1) classroom
2) vestibule training
3) job simulations
4) computer based training |
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Term
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Definition
1) E-learning program called SKU (sports knowledge underground)
2) sales soared |
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Term
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Definition
1) assessing an employer's performance
2) providing him with feedback |
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Term
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Definition
1) based on fact and often numerical
2) harder to challenge legally
3) MBO
4) SMART |
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Term
|
Definition
1) based on a manager's perceptions of an employees
a) traits
b) behaviors (BARS) |
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Term
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Definition
| behaviorally anchored rating scales |
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Term
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Definition
1) supervisors
2) peers
3) subordinates
4) customers and clients
5) self-appraisals |
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Term
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Definition
| all employees within a business unit are ranked against one another and grades are distributed along some sort of bell curve |
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Term
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Definition
| conducted at specific times throughout the year and based on performance measures that have been established in advance (MBO, BARS) |
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Term
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Definition
| conducted on an unscheduled biases and consist of less rigourous indications of employee performance |
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Term
|
Definition
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Term
|
Definition
1) commission
2) bonuses
3) profit sharing
4) stock options |
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Term
|
Definition
1) health insurance
2) retirement plans
3) accumulate sick days
4) health club membership |
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Term
|
Definition
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Term
|
Definition
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Term
| disciplining and demotion |
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Definition
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Term
|
Definition
| moving out of the organization |
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Term
|
Definition
| enforces procedures whereby employees may vote for a union and collective bargaining |
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Term
| fair labor standards act of 1938 |
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Definition
| established minimum living standards for workers engages in interstate commerce, including provision of a federal minimum wage |
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Term
| Title VII of civil rights act of 1964 |
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Definition
1) EEOC
2) discrimination
3) affirmative action
4) sexual harassment |
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Term
|
Definition
equal employment opportunity commission
job is to enforce anti-discrimination and other employment related laws |
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Term
|
Definition
| non hiring or firing for a reason not relevant to the job |
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Term
|
Definition
| focuses on achieving equality of opportunity within an organization including establishment of minority hiring goals |
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Term
|
Definition
| unwanted sexual attention that creates adverse work environment |
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Term
|
Definition
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Term
|
Definition
| offensive work environment |
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