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Accounting > management 2 > Flashcards

management 2 Flashcards

1
Q

Disruptive innovation

A

inovations that start small and end up completely replacing existing product

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2
Q

three innovation strategies

A

Exlporation Cooperation innovation roles

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3
Q

exploration

A

stage where new ideas are started

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4
Q

cooperation

A

all departments contribute towards a new innovative ideainternal and external ex angry birds movie

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5
Q

innovation role

A

a single person who believes in an idea wholeheartedly

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6
Q

new venture teams

A

a unit separate from the rest responsible for major innovations

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7
Q

skunk works

A

informal secretive groups that try to make breakthrough ideas

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8
Q

tactics for implementing change

A

management support communication education participation negotiation coercion

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9
Q

Org plannin process

A

Develop Plan, translate plan, plan operation execute plan monitor and learn

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10
Q

strategic goals

A

where the org wants to be in the future

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11
Q

strategic plans

A

steps the company needs to take for future goals

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12
Q

tactical goals

A

major milestones that a org wants to achieve

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13
Q

operational goals

A

are precise and measurable goals expected from departments work groups and individuals

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14
Q

effective goals criteria

A

effective and measurable effective time period cover key areas are challenging but realistic are linked to rewards

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15
Q

MBO process

A

Set goals develop action plan review progress appraise overall performance

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16
Q

single use plans

A

happen once

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17
Q

standing plans

A

are long lasting plans

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18
Q

MBO

A

s system where managers and employees define goals for every department project and person and use them to monitor performance

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19
Q

pros of planning

A

motivation resource allocation action guide standard performance

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20
Q

cons of planning

A

false sense of certainty rigidity in turbulent environment lack of creativity

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21
Q

contingency plans

A

response in case of emergency

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22
Q

Scenario building

A

involves looking at current trends and visualizing future negative possibilities

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23
Q

crisis planning

A

activities management takes to prevent crisis

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24
Q

strategy

A

resource and allocation plan and environmental plan

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25
Q

Competitive advantage

A

what sets org apart from competition

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26
Q

core competence

A

is something that org does better than competitors

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27
Q

synergy

A

when the sum of all parts contribute to the goal

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28
Q

value

A

is the benefits received and cost paid

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29
Q

corporate level strategy

A

what business are we in acquisitions of new businesses plants product lines joint ventures

30
Q

business level strategy

A

how do we compete advertising direction extent of R and D product changes

31
Q

functional level strategy

A

how do we support business level strat finance marketing and manufacturing

32
Q

difference between strategy formulation and implementation

A

is the assessment of external and internal problems vs alllocating resources towards accomplishing the plan

33
Q

diversification strategy

A

moving into new lines of business like google with youtube

34
Q

Portfolio Strategy

A

mix of business units and product lines that fit together

35
Q

vertical integration

A

company expands into business that produces supplies needed or distributes product

36
Q

unrelated and related diversification

A

mcdonalds to car parts vs nestle to healthy pet food

37
Q

porters 5 competitive focus

A

potential new entrants baragaining power of buyers threat of substitute products bargaining power of suppliers rivalry among competitors

38
Q

contrast cost leadership and differentiation strategy

A

aggressively seeking to reduce price vs aggresively seeking to distinguish firms product

39
Q

porters competitive strategy

A

differentiation cost leadership focused differentiation focused cost leadership

40
Q

Different global strategies

A

globalization transnational export multidomestic

41
Q

Globalization Strategy

A

Standardized product design and advertisement through the worls

42
Q

multidomestic

A

competition in each company is handled independetly ptoduct design and marketing handled independetly

43
Q

transnatioanal strat

A

strat that combines global coordination and local flexibility to meet needs in different countries

44
Q

contrast programmed and non programmed decisions

A

programmed decisions happen often where nonprogrammed decisions do not

45
Q

Rational Model

A

Decisions are made that are safe and maximize economic return uses logic

46
Q

Administrative model

A

managers typically dont make economic decisions even if they want to monitors what manager ACTUALLY do

47
Q

Political Model

A

nonprogrammed decision primarily and has to do with establishing coalition for various things

48
Q

Bounded rationality

A

people have limits or boundaries

49
Q

satisficing

A

managers will opt for decisions that solve the problem

50
Q

coalition

A

informal alliance to achieve a certain goal

51
Q

Directive Decisions

A

make decisions quickly simple and clear cut

52
Q

Analytical decisions

A

complex solutions data analytics

53
Q

conceptual decision

A

talk to others about problems and solutionsand use data analytics

54
Q

behavioral decisions

A

strictly make decisions based on peoples perspective

55
Q

group think

A

members maintain unity it is bad for creativity

56
Q

escalation of commitment

A

investing time and money into a situation even thought it is failing

57
Q

organizing

A

deployment of organizational resources to achieve strategic goals

58
Q

organizing structure

A

set of formal risk assigned to departments formal hierarchy design of systems to ensure efficiency like manager chart we did in class

59
Q

work specialization

A

mostly in technology and internet today it is new positions that specialize in certain task

60
Q

span of management

A

number of employees reporting to a supervisor ex 7-10 per manager

61
Q

centralized and decentralized

A

decision authority is located near the top vs decision authority being pushed down to the bottom

62
Q

FUntional approach

A

see pg 332 people are grouped by common skill

63
Q

divisional structure

A

departments are grouped together based on org output see pg 332

64
Q

matrix approach

A

evolved to improve horizontal coordination and info sharing

65
Q

team approach

A

allows managers to push responsibilty to lower levels

66
Q

virtual network approach

A

horizontal coordination subcontracts most of its major functions

67
Q

Horizontal linkage model

A

shows that research manufacturing and sales and marketing department all contribute to new technologies

68
Q

idea champion

A

person who sees the need for and champions productive change within org

69
Q

force field analysis

A

which forces drive a change and which forces restrain it

70
Q

three steps of org development

A

conflict management mergers acquisitions org decline/revitilization

Accounting (19 decks)

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