Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MGMT 309 > Exam II > Flashcards

Exam II Flashcards

1
Q

Decision Making

A

Is the cornestore of planning, catalyst that drives the planning process.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Planning

A

This occurs within an environmental context. (Purpose, Promise, value, and direction).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Purposes of Goals

A

THEY PROVIDE GUIDANCE AND UNIFIED DIRECTION. Specific and moderately difficult goals can motivate employees. Goals provide an effective mechanism for evaluation and control.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Kind of Goals-Level

A

Mission statement: Organization’s fundamental purpose(change over time).
Strategic goals: Set by the manager. Focus on broad general goals.
Tactical goals: Set by middle managers. Focus on actions to achieve strategic goals.
Operational goals: Set by lower managers. Focus on short terms issues associated with tactical goals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Kinds of Goals- Area and Times frames

A

Area: Organization set for different areas. Ex. Marketing, Finance, Human Resources.
Time: Organization set across doffernet time frames. Ex. Long-term, short-term.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Who is responsible for setting the goals?

A

Managers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Optimazing

A

Involves balancing and reconciling possible conflicts among goals.(Talking to lower managers to do things better.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Kinds of Organizational Plans

A

Strategic plan: A general plan outlining decisions of resources allocation, prioties and action steps neccessary to reach strategic goals.
Tactical Plan: Plan to achieve tactical goals, developed to implement parts of a strategic plan.
Operational plan: Focuses on carrying out the tactical plans to achieve operational goals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Time Frmases for Planning

A

Long-range plan: (Mission statement) Cover many years usually 5 years.
Intermediate plan: 1-5 years plan.
Short-range plan: (Day to day) covers span of 1 year or less.
- actionplan: operation of any other plan.
-reaction plan: reacts to unforseen events.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Responsabilities for planning

A

Chief Executive: Major roles in planning and implementation.
Executive commitee: Top managers provide input to the CEO and review strategic plans.
Line managment: Provides valuable inside information and excecute the pans developed by top management.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Contingency Planning:

A

The determination of alternative courses of actions to be taken if an intended plan is unexpectedly disrupted or redendered inappropriate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Crisis management

A

The set of procesured the organization uses in the event of a disaster or other unexpected calamity.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Steps of contingecy planning

A
  1. Develop plan 2. Implement plan 3. Specify indicators 4. Succesfully complete plan
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Tactical Planning

A

A plan aimed at achieving tactical goals, developed to implemement specific parts of a strategic plan. (Movememts to win the battle).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Major Barrier to goal setting and planning

A

Inappropiate goal, improper reward system, dynamic and complex environemt, recistance to change, and constrains.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How to overcome the barriers:

A

Understand the purpose of the goaland planning, communication, and participation. Consistency, revision, and updating. Effective reward system.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Managment by Objective (MBO)

A

Formal goal setting process involving collabortation between managers and subordinates.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Strategy

A

A comprehensive plan for accomplishing an organizational goal.

19
Q

Strategic Managment

A

A comprehensive and ongoing managment processs aimed at formulating and implementing effective strategies

20
Q

Effeective Strategy

A

A strategy that promotes a superior aligment between the organization ans its environment and achievment of strategic goals.

21
Q

Parts of Strategy

A

Distinctive Competence: Things that we do better than anybody else.
Scope: Range of markets when we compete.
Resource deployment: How firms distributes its resoruces across the areas.

22
Q

Business- level strategy

A

The set of strategic alternatives from which an organization chooses as it conducts business in a paticular industry or market.

23
Q

Corporate-level strategy

A

The set of strategic alternatives from which an organization chooses as it managers its operations simulstaneouly across several industry and several market.

24
Q

Strategy formulation

A

Is the set of processes involved in creating or determinung tge strategies of the organization. Focuses in the content of strategies.

25
Q

Strategy implementation

A

The method by which strategies are executed within the organization. Focuses on the process.

26
Q

Deliverate Strategy

A

Is a chosen plan of action implemented to support specific goals.

27
Q

Emergent Strategy

A

Is the developed pattern of actions in the absense of missions and goals or despite mission and goals.

28
Q

SWOT

A

Strength, Weakness, Opportunities, and Therats

29
Q

Organizational Strenghts

A

Skills of capabilities enabling an organization to conceive and implements its strategies. Things that makes us competitive.

30
Q

Common Strength

A

is a skill or capability held by numerous competing firms

31
Q

Competitive pairity

A

Exist when large number of competing firms can implement the same strategy. (all have them all use them)

32
Q

Distinctive competence

A

Is a strenght possessed by a small number of firm. (only a few have and are good at it).

33
Q

Competitive advantage

A

Using the previous compentences and strengths

34
Q

Strategic imitation

A

Is duplicating anothers competence into a valuable strayegy. Copy and paste an idea/.

35
Q

Sustain competitive advantage

A

When someone tries to imitate your strategy but fails to do so.

36
Q

Organizational Weaknesses

A

Skill and capabilities that enable and may limit an organization to implement strategies that suport their mission. You have to invest in obtaining strength or modify the mission.

37
Q

Competitive disadvantge

A

When a firm is not implementing valuable strategies that other firms are implementing.

38
Q

Organizational Oportunities

A

Areas in the environment that if exploided, may generate high performance.

39
Q

Organizational Threats

A

Areas in the environment that increases the difficulty of an organization achieving high performance.

40
Q

Business level strategies

A
  1. Porters Generic Strategies
  2. The miles and snow typology
  3. Product life cycle strategy
41
Q

Porters Generic Strategy

A
  • Differentiation Strategy: Seeks to distinguis itself from competitors
  • Overall cost leadership strategy: Seeks to gain a competitive advantage by reducing its cost below the competitive firms.
  • Focus Strategy: Concentrate on a specific regional market, product line or group of buyers.
42
Q

Miles and Snow Typology

A
  • Prospector strategy: Encourages creativity and flexibility.
  • Defender strategy: Focuses on lowering cost and omproving performanceof current products.
  • Analyzer Strategy: Maintains current business and is somewhat onnovative in new business.
  • Reactor Strategy: Has no consistent approach to strategy.
43
Q

Product life cycle

A

Intruduction, growth, maturity and decline.

MGMT 309 (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions