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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
Competitive advantage
what sets org apart from competition
26
core competence
is something that org does better than competitors
27
synergy
when the sum of all parts contribute to the goal
28
value
is the benefits received and cost paid
29
corporate level strategy
what business are we in acquisitions of new businesses plants product lines joint ventures
30
business level strategy
how do we compete advertising direction extent of R and D product changes
31
functional level strategy
how do we support business level strat finance marketing and manufacturing
32
difference between strategy formulation and implementation
is the assessment of external and internal problems vs alllocating resources towards accomplishing the plan
33
diversification strategy
moving into new lines of business like google with youtube
34
Portfolio Strategy
mix of business units and product lines that fit together
35
vertical integration
company expands into business that produces supplies needed or distributes product
36
unrelated and related diversification
mcdonalds to car parts vs nestle to healthy pet food
37
porters 5 competitive focus
potential new entrants baragaining power of buyers threat of substitute products bargaining power of suppliers rivalry among competitors
38
contrast cost leadership and differentiation strategy
aggressively seeking to reduce price vs aggresively seeking to distinguish firms product
39
porters competitive strategy
differentiation cost leadership focused differentiation focused cost leadership
40
Different global strategies
globalization transnational export multidomestic
41
Globalization Strategy
Standardized product design and advertisement through the worls
42
multidomestic
competition in each company is handled independetly ptoduct design and marketing handled independetly
43
transnatioanal strat
strat that combines global coordination and local flexibility to meet needs in different countries
44
contrast programmed and non programmed decisions
programmed decisions happen often where nonprogrammed decisions do not
45
Rational Model
Decisions are made that are safe and maximize economic return uses logic
46
Administrative model
managers typically dont make economic decisions even if they want to monitors what manager ACTUALLY do
47
Political Model
nonprogrammed decision primarily and has to do with establishing coalition for various things
48
Bounded rationality
people have limits or boundaries
49
satisficing
managers will opt for decisions that solve the problem
50
coalition
informal alliance to achieve a certain goal
51
Directive Decisions
make decisions quickly simple and clear cut
52
Analytical decisions
complex solutions data analytics
53
conceptual decision
talk to others about problems and solutionsand use data analytics
54
behavioral decisions
strictly make decisions based on peoples perspective
55
group think
members maintain unity it is bad for creativity
56
escalation of commitment
investing time and money into a situation even thought it is failing
57
organizing
deployment of organizational resources to achieve strategic goals
58
organizing structure
set of formal risk assigned to departments formal hierarchy design of systems to ensure efficiency like manager chart we did in class
59
work specialization
mostly in technology and internet today it is new positions that specialize in certain task
60
span of management
number of employees reporting to a supervisor ex 7-10 per manager
61
centralized and decentralized
decision authority is located near the top vs decision authority being pushed down to the bottom
62
FUntional approach
see pg 332 people are grouped by common skill
63
divisional structure
departments are grouped together based on org output see pg 332
64
matrix approach
evolved to improve horizontal coordination and info sharing
65
team approach
allows managers to push responsibilty to lower levels
66
virtual network approach
horizontal coordination subcontracts most of its major functions
67
Horizontal linkage model
shows that research manufacturing and sales and marketing department all contribute to new technologies
68
idea champion
person who sees the need for and champions productive change within org
69
force field analysis
which forces drive a change and which forces restrain it
70
three steps of org development
conflict management mergers acquisitions org decline/revitilization

Accounting (19 decks)

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