Shared Flashcard Set

Details

strategic & financial planning
Ch 5
12
Management
Graduate
10/11/2010

Additional Management Flashcards

 


 

Cards

Term
Mission
Definition
Attempts to capture the organization's distinctive purpose or reason for being
Term
Vision
Definition
Creates a mental image of what the managers, employers, physicians, patients and other stakeholders want the organization to be when it is accomplishing its purpose or mission. The organization's hope for the future.
Term
Values
Definition
The principles that are held dear by members of the organization. These are guiding principles the managers and employees will not compromise while they are in the process of achieving the mission and pursuing the vision and strategic goals.
Term
Strategic Goals
Definition
The overarching end results that the organization pursues to accomplish its mission and achieve its vision.
Term
Vision-led approach
Definition
Hopes for higher levles of performance that are inspiring although they cannot yet be achieved.
Term
Keeper of the vision
Definition
A cheerleader who holds on to the vision even when others lose hope.
Term
First-mover advantage
Definition
The organization that enters into a new market first is able to build a reputation for pioneering and market position can be more easily established.
Term
Pioneering
Definition
Organizations that seek first- mover advantages
Term
Liability of Newness
Definition
The disadvantages of entering into a new market first which includer making mistakes that other can learn from and greater uncertainty since the demand for the service has not been proven.
Term
Critical success factors
Definition
The things that organizations must do in order to achieve hihg performance. These include: ability to serves entire market, strong information systems, lowest cost structure, ability to replicate services in other geographical markets, and ability to accept near-term risks.
Term
Philanthropic governing boards
Definition
Larger and more diverse members to gain as much community representation as possible.
Term
Corporate Governing Board
Definition
A smaller board composed of invdividuals who posses expertise that will aid the organization in accomplishing its strategic goals.
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