Unit 3.10 Flashcards

1
Q

Corporate culture

A

Norms and values of a business

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2
Q

Handy’s company culture

A
  • 4 main company cultures
  • Power Culture
  • Role Culture
  • Task Culture
  • Person Culture
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3
Q

Civil service

A

Provides service directly to people all over the country, such as…
- Paying benefits and pension
- Issuing driving licenses

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4
Q

Handy’s task culture

A
  • Represented by a matrix or grid diagram
  • involves teamwork on a project with a team of experts working together
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5
Q

Handy’s power culture

A
  • Represented by a spider on a web - very strong owner at the heart of the business
  • competitive attitude amongst employees to gain power
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6
Q

Handy’s role culture

A
  • Decisions made through rules and procedures
  • power to make decision comes from the title
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7
Q

Handy’s person culture

A
  • grouping of similar skilled people to share expertise and knowledge
  • work on client by client basis
  • e.g. lawyers
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8
Q

Reasons for changing corporate culture

A
  • to fit in with another company that they are trying to merge with
  • rapid expansion also signals need for company change
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9
Q

Difficulties of strategic decision-making

A
  • Changing external environmental factors
  • hard to audit internal strengths and how they can take advantage of opportunities
  • Communication problems
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10
Q

Difficulties of strategic implementation

A
  • effectiveness of management communication of the strategy
  • resistance by employees
  • unexpected changes in the external environment
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11
Q

Planned strategy

A
  • list of steps explaining how the business will achieve it’s corporate structure
  • Alison known as strategic planning
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12
Q

Emergent strategy

A
  • the competitive actions and reactions that a business takes to help the business continue to achieve it’s objectives in a changing environment
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13
Q

Reasons for strategic drift

A
  • happens when the business fails to change strategy to respond to changes in the environment
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14
Q

Divorce between ownership and control

A
  • in this situation owners of the business don’t know as much about business as directors
  • managers may have different objectives to those of the business
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15
Q

Corporate governance

A
  • System of rules, practices and processes by which a company is controlled
  • Way in which the company is governed
  • ensures those that run the business work in interests of all shareholders
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16
Q

Strategic planning

A

Set of actions that managers take to increase their companies performance relative to that of their rivals

17
Q

Value of strategic planning

A
  • Cost savings
  • Better use of resources
  • Focus and vision for staff
18
Q

Contingency planning

A

Course of action designed to help a business respond effectively to a significant future event or situation that may not happen

19
Q

Value of contingency planning

A
  • Reassures shareholders
  • post event recovery will be quicker
  • Faster reactions in the event of a cross
20
Q

Internal chanage

A
  • Any factors that are within the businesses control and which have caused a change in the business
21
Q

External change

A
  • Pressure on businesses from outside the company
  • PESTLE factors
22
Q

Incremental change

A

Small changes that aim to modify, improve, adjust and refine exiting practices and processes

23
Q

Disruptive change

A

Irreversible changes that may alter the businesses future e.g. the introduction of smartphones

24
Q

Lewin’s force field analysis

A
  • Has two sides - Driving forces and Restraining forces
  • Change will happen if the driving forces are greater than the obstacles
25
Restructuring
- Changing the finance, operations or structure of the business as a way of improving the business - Could include divestment = selling off of part of the business
26
Organic structure
- Decentralised - Flexible management strategy - Person culture
27
Mechanist structure
- Centralised - Authoritarian style - Role culture
28
Knowledge and information management
- Ensures info is managed correctly - ensure valuable info is protected
29
Kotter and Schlesinger's four reasons for resistance to change
- Self interest - Misunderstanding and fear - Differing views - Prefer the the status quo
30
Kotter and Schlesinger's six ways of overcoming resistance to change
- Education - Coercion - Manipulation - Negotiation - Facilitation - Participation
31
Types of communication
- Ways the directors and management of a business can communicate the strategy to the workforce - General meetings - Presentations - Annual report
32