Basic Concepts Flashcards
A nesting of strategies by level from corporate to business to functional, so that they complement and support one another.
Hierarchy of strategy
A concept of organizational adaptation that proposes that organizations can and do adapt to changing conditions by imitating other successful organizations.
Institution theory
Variables within the organization not usually within the short-run control of top management.
Internal environment
The end result of planned activity stating what is to be accomplished by when, and quantified if possible.
Objectives
An organization that is skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights.
Learning organization
The purpose or reason for an organization’s existence.
Mission
an organization adjusts defensively to a changing environment and uses knowledge offensively to improve the fit between itself and its environment.
Organizational learning theory
The end result of activities, actual outcomes of a strategic management process.
Performance
A set of four levels of development through which a firm generally evolves into strategic management.
Phases of strategic management
A broad guideline for decision making that links the formulation of strategy with its implementation.
Policy
A theory that proposes that once an organization is successfully established in a particular environmental niche, it is unable to adapt to changing conditions.
Population ecology
A list of sequential steps that describe in detail how a particular task or job is to be done.
Procedures
A statement of the activities or steps needed to accomplish a single-use plan.
Program
A checklist of questions by area or issue that enables a systematic analysis of various corporate functions and activities. It’s a type a management audit.
Strategic audit
A theory that proposes that organizations adapt to a changing environment and have the opportunity and power to reshape their environment.
Strategic choice perspective
Decisions that deal with the long-run future of an entire organization and are rare, consequential, and directive.
Strategic decisions
An eight-step process that improves strategic decision making.
Strategic decision-making process
External and internal factors that determine the future of a corporation.
Strategic factors
A set of managerial decisions and actions that determine the longrun performance of a corporation.
Strategic management
A comprehensive plan that states how a corporation will achieve its mission and objectives.
Strategy
Development of long range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses.
Strategy formulation
A process by which strategies and policies are put into action through the development of programs, budgets, and procedures.
Strategy implementation
Identification of strengths, weaknesses, opportunities, and threats that may be strategic factors for a specific company.
SWOT analysis
Something that acts as a stimulus for a change in strategy.
Triggering event
A view of what management thinks an organization should become.
Vision
A statement of a corporation’s programs in terms of money required.
Budget
Competitive and cooperative strategies that emphasize improvement of the competitive position of a corporation’s products or services in a specific industry or market segment.
Business strategy
A strategy that states a company’s overall direction in terms of its general attitude toward growth and the management of its various business and product lines.
Corporate strategy
The monitoring, evaluation, and dissemination of information
from the external and internal environments to key people within the corporation.
Environmental scanning
The use of business practices to reduce a company’s impact upon the natural, physical environment.
Environmental sustainability
A process in which corporate activities and performance results are monitored so that actual performance can be compared with desired performance.
Evaluation and control
Forces outside an organization that are not typically within the short-run control of top management.
External environment
An approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity.
Functional strategy
The internationalization of markets and corporations.
Globalization
