Chapter 1 Flashcards
Conceptual and Decision Skills
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.
Controlling
The management function of monitoring performance and making needed changes.
Cost Competitiveness
Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers.
Emotional intelligence
The skills of understanding yourself, managing yourself, and dealing effectively with others.
Frontline managers
Lower-level managers who supervise the operational activities of the organization.
Innovation
The introduction of new goods and services.
Interpersonal and communcation skills
People skills, the ability to lead, motivate, and communicate effectively with others.
Knowledge Management
Practices aimed at discovering a harnessing an organization’s intellectual resources.
Leading
The management function that involves the managers efforts to stimulate high performance by employees.
Social Capital
Goodwill stemming from your social relationships..
Technical skill
The ability to perform a specialized task involving a particular method or process
Acquision
One firm buying another
Benchmarking
The process of comparing an organization practices and technologies with those of other companies.
Buffering
Creating supplies of excess resources in case of unpredictable needs.
Competitive Enviornment
The immediate environment surrounding a firm includes supplies customers rivals
Competitive Intelligence
Information that helps managers determine how to compete better
Cooperative strategies
Strategies used by two or more working organizations working together to manage the external environment.
Defenders
Companies that stay within a stable product as a strategic maneuver.
Demographics
Measures of various characteristics of the people who make up groups or other social units
Divestiture
A firm selling one or more businesses
Domain Selection
Entering a new market or industry with an existing expertise
empowerment
The process of sharing power with employees thereby enhancing their confidence in their ability to perform their jobs and their belief that they are influential contributors to the organization.
Enviornmental Scanning
Searching for and sorting through information about the environment
Enviornmental uncertainty
Lack of information needed to understand or predict the future
External Enviornment
All relevant forces outside a firms boundaries such as competitors customers the gov. and the economy
Final customer
Those who purchase products in their finished form
Flexible processes
Method for adapting the technical core to changes in the environment.
Independent strategies
Strategies that an organization acting on its own uses to change some aspect of its current environment.
Intermediate customer
A customer who purchases raw materials or wholesale products before welling them to the final customer.
Macroenvironment
The general environment includes governments economic conditions and other fundamental factors that generally affect all organizations.
Open systems
Organizations that are affected by and that affect their environment.
Organizational climate
the patterns of attitudes and behavior that people’s experience of an organization
Organizational culture
The set of important assumptions about the organization and its goals and practices that member of the company share.
Outputs
The products and services organizations create
