chapter 2 Flashcards
strategic planning
the process through which a focus on the desired future sets out defined goals and objectives to translate the vision into reality.
culture shock
culture shock is a feeling of nervousness, doubt, and confusion arising from being in a foreign and unfamiliar environment.
defender strategy
in which organizations focus on stability and efficiency of their internal operations to protect their market from new competitors.
divisional strategy
divisional strategy focuses on how the different departments of the organization comply with the company’s vision.
expatriate
an employee who lives and works in a foreign country on a temporary basis.
first mover
an organization that wins competitive advantage by being the first to establish itself in a particular market.
functional strategy
functional strategy is a set of rules determining how each department will implement the strategic plan.
globalization
globalization is the integration of economy, trade, and finance on an international scale.
grafting
grafting is a process of hiring experts who bring their knowledge to the firm.
HIPOs (high-potential employees)
HIPO’s are employees who are flexible, committed, and motivated.
individualist-collectivist
individualist-collectivist is a dimension focuses on the degree to which citizens in a given culture believe they have the right to live their lives as they see fit, choose their own value, and act on their own judgment.
learning organization
learning organization is one that facilitates the acquisition, distribution, and retention of knowledge to enable it to react to change.
localization
localization is the process of adapting certain functions to accommodate the language, culture, or governing laws of of a different country.
long-term orientation
long-term orientation measure values such as perseverance, respect for tradition, and thrift.
mimicry
mimicry is the process of learning from the successful practices of others.
operational planning
operational planning aligns the strategic plan with the day-to-day tasks required in the running of the organization.
organizational strategy
an overarching plan of action to guide top-level managers in creating, evaluating, and implementing decisions an objectives that lead to success.
power distance
power distance expresses the extent to which people in different societies accept the way power is distributed.
prospector strategy
prospector strategy is when an organization focus in innovation, creativity, and flexibility and take high risks in order to accelerate growth and gain competitive advantage.
reactor strategy
reactor strategy is a means through which organizations respond to environmental threats and opportunities rather than following a defined plan.
scanning
scanning is seeking solutions from consultants, competitors, and other successful firms.
short-term orientation
short-term orientation values such as meeting social obligations and avoiding embarrassment or shame.
standardization
standardization is the degree to which employees are expected to follow the same rules and policies everywhere.
strategic planning
strategic planning is a process, which focuses on the company’s desired future and sets defined goals and objectives to translate the vision into reality.
tactical planning
tactical planning lays out the short-term actions and plans to implement the strategy.
uncertainty avoidance
uncertainty avoidance measures the degree to which people are able to deal with the unexpected and how they cope with uncertainty in unstructured environments.
vicarious learning
vicarious learning is the process of learning by by watching the actions or behaviors of another person.
