Management Test Three Ch 7-9
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Is the act of determining goals and defining the means of achieving them
Is a broadly stated definition of the organization's basic business scope and operations that distinguishes it from similar types of organizations
Are broad statements of where the organization wants to be in the future and pertain to the organization as a whole rather than to specific divisions or department
is a desired future state that the organization wants to realize
The out comes that major divisions and departments must achieve for the organization to reach its overall goals
Are specific, measurable results that are expected from departments, work groups, and individuals.
are plans that are developed to achieve a set of goals that are unlikely to be repeated in the future.
Are ongoing plans that are used to provided guidance for tasks that occur repeatedly in the organization.
Identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, set backs, or unexpected conditions.
Name the five (5) key criteria for effective goals
- 1) Are linked to rewards
- 2) Are specific and measurable
- 3) Have a defined time period
- 4) Cover Key results areas
- 5) Are challenging but realistic
is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining goals.
is something that the organization does particularly well in comparison to others.
refers to the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
refers to what sets the organization apart from others and provides it with a distinctive edge in the marketplace.
pertains to the mix of SBU's and product lines that fit together in a logical way to provide synergy and competitive advantage.
The strategy of moving into new lines of business
refers to expanding into totally new lines of business
Means expanding into businesses that either provide the supplies needed to make products or distribute and sell the company's product
is a strategy with which managers seek to distinguish the organization's products and services from those of others in the industry
products design and advertising are standardized throughout the world
means that competition in each country is handled independently; product design and advertising are modified to suit the specific needs of individual countries
What are the three (3) specific questions that relate to the three different levels of strategy?
- 1) Corporate-Level Strategy- What business are we in?
- 2)Business-Level Strategy- How do we compete?
- 3)Functional-Level Strategy- How do we support the Business-Level Strategy
Is the process of identifying problems and opportunities
is a choice made from available alternatives
is one made in response to a situation that has occurred often enough to enable managers to develop decision rules that can be applies in the future
is one made in response to a situation that is unique is poorly defined and largely unstructured, and has important consequences for the organization
Occurs when managers know which goals they want to achieve, but information about alternatives and future events is incomplete
is a condition in which the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes in unavailable
is based on the assumption that managers should make logical decision that are economically sensible and in the organizations best economic interest
Means that people have the time and cognitive ability to process only a limited amount of information on which to base decisions
is an aspect of administrative decision making that refers to a quick comprehension of decision situation based on past experience but without conscious thoughts
is an informal alliance among managers who support a specific goal or solution
is a situation in which managers see potential organizational accomplishments that exceed current goals
refers to the tendency of people in groups to suppress contrary opinions in a desire for harmony
is a technique that uses a face-to-face group to spontaneously suggest a broad range of alternatives for making a decision.
willingness to undertake risk with the opportunity of gaining an increased payoff
means choosing that first alternative that satisfies minimal decision criteria, regardless of whether better solutions are presumed to exist
The four (4) major assumption associated with the ideal, rational model of decision making.
- 1) define the problem
- 2) get information and certainty
- 3) look at and compare alternatives and select one
- 4) make sure you are thinking rationale
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