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32 Cards in this Set
- Front
- Back
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Collaboration across "boundaries"
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Occurs within and even beyond the boundaries of the organization itself.
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Cost competitiveness
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Keeping costs low enough so that the company can realize profits and price its products (goods or services) at levels that are attractive to consumers
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___________ managers must create and articulate a broad corporate purpose with which people can identify, and one to which people with enthusiastically commit.
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Top-level
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Top-level managers
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Set overall direction by formulating strategy and controlling resources. Be true organizational leaders. As leaders, they must create and articulate a broader corporate purpose with which people can identify, and one to which people will enthusiastically commit.
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According to Porter's competitive environment model, high switching costs increase...
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the power of suppliers
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Switching costs
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The fixed costs buyers face if they change suppliers
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When clothing retailers reduce prices to clear out last season's merchandise to make room for new inventory, they are.....
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smoothing.
Smoothing environmental cycles level off fluctuations in demand |
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Which type of culture is externally oriented and flexible, with an emphasis on growth, resource acquisition, and innovation?
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Adhocracy
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Programmed Decisions
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Decisions that have been encountered and made before. They have objectively correct answers and can be solved by using simple rules, policies, or numerical computations.
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When a manager must decide between several attractive options, or when there are no attractive options, he or she experiences __________________ conflict.
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phychological
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Satisficing
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Choosing the first option that is minimally acceptable or adequate. When you ______________, you compare your choice against your goal, not against other options.
A search for alternatives stops at the first one that is okay. |
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Hesitation to invest in promising research and development that will not pay off until far into the future can be caused by....
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discounting the future.
Weigh short-term costs and benefits more heavily than longer-term costs and benefits. The avoidance of short-term costs or the seeking of short-term rewards often results in negative long-term consequences. |
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If saving face and winning an argument become more important to team members than solving the problem, a decision-making group is experiencing...
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goal displacement
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What is the organizational decision process model that arises when people aren't sure of their goals, or disagree on what to do, so much so that decisions seems chaotic and almost random?
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Garbage Can Model
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What are the five specific characteristics of effective goals that together form the acronym SMART?
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S - Specific
M- Measurable A - Attainable (but challenging) R - Relevant T - Time-Bound |
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The planning level with the shortest time horizon is known as _________________ planning.
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operational
A strategic plan will typically have a time horizon of from 3-5 years. Tactical plans may have a time horizon of a year or 2, and operational plans may cover a period of months. |
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Strategic Goals
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Major targets that relate to long-term survival, value, and growth of the organization. They include growth, increasing market share, improving profitability, fostering quantity and quality of outputs, increasing productivity, improving service, and contributing to society.
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A budget is typically considered part of what stage of the strategic management process?
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Strategic control
Most strategic control systems include a budget to monitor and control major financial expenditures. |
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The Caux Principles are most closely associated with which ethical system?
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Universalism
Some efforts have been made to establish global, universal ethical principles for business, as a form of universalism. The Caux Roundtable, a group of international executives based in Caux, Switzerland, worked with business leaders from Japan, Europe, and the United States to create the Caux Principles |
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In Kohlberg's model of cognitive moral development, which category immediately precedes the conventional stage?
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preconventional
Kohlberg's model of cognitive moral development classifies people into categories based on their level of moral judgement. People in the preconeventional stage make decisions based on concrete regards and punishments and immediate self-interest. |
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Ethical climate
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Refers to the processes y which decisions are evaluated and made on the basis of right and wrong.
For example, GE's top executives have demonstrated a commitment to promoting high levels of integrity without sacrificing the company's well known commitment to business results. |
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"Veil of ignorance"
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One way to develop this judgment by pretending that you belong to one of the affected groups but you don't know which one.
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Companies that use misleading marketing claims about the green attributes of their products are accused of ...
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greenwashing
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____________ is currently negotiating with carious nations over objections to environmental regulations and subsidies to farmers in developing countries, on the grounds that they conflict with free trade.
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The World Trade Organization (The WTO)
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International Model
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Managers use their organization's existing core capabilities to expand into foreign markets.
Pfizer is an example of a company operating in the international model. It is in an industry that doesn't compete on costs, and its drugs obviously don't need to be tailored for local tastes. |
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Advantages & Drawbacks of Exporting
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Advantage - It provides scale economies by avoiding the costs of manufacturing in other countries
Drawback - Host countries can impose (or threaten to impose) tariff barriers |
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Expatriates
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Parent-company nationals who are sent to work at a foreign subsidiary
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Ethnocentrism
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A tendency to judge foreign people or groups by the standards of one's own culture or group, and to see one's own standards as superior.
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Stages of Decision Making
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1. Identify and diagnosing the problem
2. Generating alternative solutions 3. Evaluating alternative solutions 4. Making the choice 5. Implementing the decision 6. Evaluating the decision |
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Top-level Management
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"Strategic"
Level of detail: Low Time Horizon: Long (3-7 years) |
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Middle Management
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"Tactical"
Level of detail: Medium Time Horizon: Medium (1-2 years) |
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Front-line Management
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"Operational"
Level of detail: High Time Horizon: Short (<1 year) |
