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Strategic Management > Exam #3 > Flashcards

Exam #3 Flashcards

1
Q

Organizational Structure

A

Specifies the firms formal reporting relationships, procedures, controls, and authority and decision making processes.

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2
Q

Organizational Controls

A

guide the use of strategy, indicate how to compare actual results with expected results, and suggest corrective actions to take when the difference is unacceptable.

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3
Q

Strategic Controls

A

largely subjective criteria intended to verify that the firm is using appropriate strategies for the conditions in the external environment and the company’s competitive advantages.

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4
Q

Financial Controls

A

largely objective criteria used to measure the firms performance against previously established quantitative standards

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5
Q

simple structure

A

a structure in which the owner-manager makes all major decisions and monitors all activities while the staff serves as an extension of the manager’s supervisory authority

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6
Q

functional structure

A

consists of a CEO and limited corporate staff, with functional line managers in dominant organizational areas such as production, accounting, marketing, R&D, engineering, and HR

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7
Q

Multidivisional (M-Form) Structure

A

consists of a corporate office and operating divisions, each operating division representing a separate business or profit center in which the top corporate officer delegates responsibilities for day-to-day operations and business unit strategies to division managers

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8
Q

Corporate Firm

A

An M-Form Structure in which horizontal integration is used to bring about interdivisional cooperation.

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9
Q

SBU Form

A

an M-Form consisting of 3 levels; corporate HQ, SBU’s, and SBU divisions

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10
Q

Competitive Form

A

an M-Form structure characterized by complete independence among the firms divisions which compete for corporate resources.

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11
Q

Worldwide Geographic Area Structure

A

emphasizes national interests and facilitates the firms efforts to satisfy local differences.

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12
Q

Worldwide Product Divisional Structure

A

decision making authority is centralized in the worldwide division HQ to coordinate and integrate decisions and actions among divisional business units.

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13
Q

Combination Structure

A

structure drawing characteristics and mechanisms from both the worldwide geographic area structure and the worldwide product divisional structure

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14
Q

Strategic Network

A

group of firms that has been formed to create value by participating in multiple cooperative arrangements.

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15
Q

Strategic Leadership

A

the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary

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16
Q

Strategic Change

A

change brought about as as result of selecting and implementing a firm’s strategies

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17
Q

Top Management Team

A

composed of the individuals who are responsible for making certain the firm uses the strategic management process, especially for the purpose of selecting and implementing strategies

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18
Q

heterogenous top management team

A

composed of individuals with different functional backgrounds, experience, and education

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19
Q

internal managerial labor market

A

consists of a firms opportunities for managerial positions and qualified employees within that firm

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20
Q

External managerial labor market

A

collection of managerial career opportunities and the qualified people who are external to the organization in which opportunities exist

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21
Q

Determining Strategic Alliance

A

involves specifying the vision and the strategy or strategies to achieve this vision over time

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22
Q

Human Capital

A

refers to the knowledge and skills of a firms entire workforce

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23
Q

Social Capital

A

involves relationships inside and outside the firm that help in efforts to accomplish tasks and create value for stakeholders

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24
Q

The balanced scorecard

A

A tool firms use to determine if they are achieving an appropriate balance when using strategic and financial controls as a means of positively influencing performance

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25
Q

Strategic Entrepreneurship

A

the taking of entrepreneurial actions using a strategic perspective.

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26
Q

Corporate Entrepreneurship

A

the use or application of entrepreneurship within an established firm

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27
Q

Entrepreneurship

A

the process by which individuals, teams, or organizations identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.

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28
Q

Entrepreneurial opportunities

A

are conditions in which new goods or services can satisfy a need in the market.

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29
Q

Invention

A

is the act of creating or developing a new product or process.

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30
Q

Innovation

A

is a process used to create a commercial product from an invention

31
Q

imitation

A

the adoption of a similar innovation by different firms

32
Q

Entrepreneurs

A

individuals acting independently or as part of an organization, who perceive an entrepreneurial opportunity and then take risks to develop an innovation to explore it.

33
Q

Entrepreneurial mind set

A

values uncertainty in markets and seeks to continuously identify opportunities in those markets that can be pursued through innovation

34
Q

International Entrepreneurship

A

a process in which firms creatively discover and exploit opportunities that are outside their domestic markets

35
Q

exam 3 reversed

Specifies the firms formal reporting relationships, procedures, controls, and authority and decision making processes.

A

Organizational Structure

36
Q

exam 3 reversed

guide the use of strategy, indicate how to compare actual results with expected results, and suggest corrective actions to take when the difference is unacceptable.

A

Organizational Controls

37
Q

exam 3 reversed

largely subjective criteria intended to verify that the firm is using appropriate strategies for the conditions in the external environment and the company’s competitive advantages.

A

Strategic Controls

38
Q

exam 3 reversed

largely objective criteria used to measure the firms performance against previously established quantitative standards

A

Financial Controls

39
Q

exam 3 reversed

a structure in which the owner-manager makes all major decisions and monitors all activities while the staff serves as an extension of the manager’s supervisory authority

A

simple structure

40
Q

exam 3 reversed

consists of a CEO and limited corporate staff, with functional line managers in dominant organizational areas such as production, accounting, marketing, R&D, engineering, and HR

A

functional structure

41
Q

exam 3 reversed

consists of a corporate office and operating divisions, each operating division representing a separate business or profit center in which the top corporate officer delegates responsibilities for day-to-day operations and business unit strategies to division managers

A

Multidivisional (M-Form) Structure

42
Q

exam 3 reversed

An M-Form Structure in which horizontal integration is used to bring about interdivisional cooperation.

A

Corporate Firm

43
Q

exam 3 reversed

an M-Form consisting of 3 levels; corporate HQ, SBU’s, and SBU divisions

44
Q

exam 3 reversed

an M-Form structure characterized by complete independence among the firms divisions which compete for corporate resources.

A

Competitive Form

45
Q

exam 3 reversed

emphasizes national interests and facilitates the firms efforts to satisfy local differences.

A

Worldwide Geographic Area Structure

46
Q

exam 3 reversed

decision making authority is centralized in the worldwide division HQ to coordinate and integrate decisions and actions among divisional business units.

A

Worldwide Product Divisional Structure

47
Q

exam 3 reversed

structure drawing characteristics and mechanisms from both the worldwide geographic area structure and the worldwide product divisional structure

A

Combination Structure

48
Q

exam 3 reversed

group of firms that has been formed to create value by participating in multiple cooperative arrangements.

A

Strategic Network

49
Q

exam 3 reversed

the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary

A

Strategic Leadership

50
Q

exam 3 reversed

change brought about as as result of selecting and implementing a firm’s strategies

A

Strategic Change

51
Q

exam 3 reversed

composed of the individuals who are responsible for making certain the firm uses the strategic management process, especially for the purpose of selecting and implementing strategies

A

Top Management Team

52
Q

exam 3 reversed

composed of individuals with different functional backgrounds, experience, and education

A

heterogenous top management team

53
Q

exam 3 reversed

consists of a firms opportunities for managerial positions and qualified employees within that firm

A

internal managerial labor market

54
Q

exam 3 reversed

collection of managerial career opportunities and the qualified people who are external to the organization in which opportunities exist

A

External managerial labor market

55
Q

exam 3 reversed

involves specifying the vision and the strategy or strategies to achieve this vision over time

A

Determining Strategic Alliance

56
Q

exam 3 reversed

refers to the knowledge and skills of a firms entire workforce

A

Human Capital

57
Q

exam 3 reversed

involves relationships inside and outside the firm that help in efforts to accomplish tasks and create value for stakeholders

A

Social Capital

58
Q

exam 3 reversed

A tool firms use to determine if they are achieving an appropriate balance when using strategic and financial controls as a means of positively influencing performance

A

The balanced scorecard

59
Q

exam 3 reversed

the taking of entrepreneurial actions using a strategic perspective.

A

Strategic Entrepreneurship

60
Q

exam 3 reversed

the use or application of entrepreneurship within an established firm

A

Corporate Entrepreneurship

61
Q

exam 3 reversed

the process by which individuals, teams, or organizations identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.

A

Entrepreneurship

62
Q

exam 3 reversed

are conditions in which new goods or services can satisfy a need in the market.

A

Entrepreneurial opportunities

63
Q

exam 3 reversed

is the act of creating or developing a new product or process.

64
Q

exam 3 reversed

is a process used to create a commercial product from an invention

A

Innovation

64
Q

exam 3 reversed

is a process used to create a commercial product from an invention

A

Innovation

65
Q

exam 3 reversed

the adoption of a similar innovation by different firms

65
Q

exam 3 reversed

the adoption of a similar innovation by different firms

66
Q

exam 3 reversed

individuals acting independently or as part of an organization, who perceive an entrepreneurial opportunity and then take risks to develop an innovation to explore it.

A

Entrepreneurs

66
Q

exam 3 reversed

individuals acting independently or as part of an organization, who perceive an entrepreneurial opportunity and then take risks to develop an innovation to explore it.

A

Entrepreneurs

67
Q

exam 3 reversed

values uncertainty in markets and seeks to continuously identify opportunities in those markets that can be pursued through innovation

A

Entrepreneurial mind set

67
Q

exam 3 reversed

values uncertainty in markets and seeks to continuously identify opportunities in those markets that can be pursued through innovation

A

Entrepreneurial mind set

68
Q

exam 3 reversed

a process in which firms creatively discover and exploit opportunities that are outside their domestic markets

A

International Entrepreneurship

68
Q

exam 3 reversed

a process in which firms creatively discover and exploit opportunities that are outside their domestic markets

A

International Entrepreneurship

Strategic Management (3 decks)

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