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ADMN 1001 > Final Exam > Flashcards

Final Exam Flashcards

1
Q

Strategy

A

Plans of actions taken to help the organization obtain its intended purpose

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2
Q

Strategic Management

A

analysis, decisions, implementations and evaluations a firm undertakes to create/sustain a competitive advantage

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3
Q

Industry

A

A group of organizations that share similar resource requirements (Raw materials, labor technology, customers)

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4
Q

Fiver Forces Model

A 
Potential Entrants
Suppliers
Industry Competitors
Buyers
Substitutes
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5
Q

VRIO Model

A

Value
Rareness
Imitatability
Organization

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6
Q

SWOT Analysis

A 
Internal
-Strength
-Weakness
External
-Opportunities
-Threats
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7
Q

Business Level Strategies

A

Cost Leadership
Product Differentiation (Perceived value)
Focus (targets one aspect of either consumers, production, and market)

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8
Q

Boston Consulting Group Matrix

A

Question mark: small market, but fast growing

Stars: Growth and market share is high to take advantage of the fast growing marker share the company has to invest in it.

Cash Cows: Market share is high, growth is slow

Dogs: Small market and slow market growth

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9
Q

Diversification

A

Intra and Interfirm dynamics motivate it

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10
Q

Vertical Integration

A

the combination in one company of two or more stages of production normally operated by separate companies.

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11
Q

Globalization

A
  • Integration of national economies
  • a single world economic system
  • Growth in direct foreign investment
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12
Q

Sources Encouraging Global Business

A 
Pull Factors:
-Potential for sales growth
-obtaining needed resources
Push Factors:
-The force of competition
-shift towards democracy
-Reduced trade barriers
-Tech Improvements
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13
Q

Channels of Global Business

A
  • Establish Subsidiaries
  • Exports and Imports
  • Outsourcing
  • Licensing and Franchising
  • Direct Investment in Foreign Operations
  • Joint ventures and alliances
  • Mergers and acquisitions
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14
Q

Subsidiaries

A

branch operations in foreign countries through the enterprise can produce market goods and services

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15
Q

Multinational Corporations

A

A business that has direct investments (whether in the form of marketing or manufacturing facilities) in at least two different countries

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16
Q

Regional Economic Integration

A

means bringing different countries closer together by reducing or eliminating obstacles to the international movement of capital, labour, and products or services. A collection of countries within such an integrated region is typically referred to as a regional trading bloc

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17
Q

Sustainable Development

A

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs

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18
Q

Triple Bottom Line Framework

A

Sustainability reporting tool that assesses the economic, social and environmental performance of an organization.
It considers financial statements, organization size, and number of jobs. Are the salaries and working conditions fair?

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19
Q

Resource Depletion

A

Loosing water

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20
Q

Greenhouse Gas Emissions

A

Burning fossil fuels in the process of daily industrial functions

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21
Q

Carbon Footprint

A

Measurement of total amount of green-house gas emission from a person, product or organization

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22
Q

Fracking

A 
Gas extraction process. Injecting high pressure mix of water and chemicals deep beneath the ground to free up oil and gas deposits
For:
-Creates jobs
-Economic development
Against:
-Groundwater contaminiation
-Pipeline leaks
-Chemicals
23
Q

Living Planet Indes

A

Measure changes to the worlds biological diversity

24
Q

Ecological Footprint

A

Amount of biologically productive land and sea are that is required to meet the demands of human consumption for a population.

25
Q

Index of Sustainable Economic Welfare

A

Measure positive and negative activities that affect society’s well-being

26
Q

Genuine Progress Indicator

A

Economic growth and social well-being. GDP, education, lifespan

27
Q

Human Poverty Index

A

Measures: Longevity, knowledge and decent standard of living

28
Q

Population Ecology

A

Focuses on how the population of an organization changes, and on the diversity and adaptation within an organization

29
Q

Population

A

A set of organizations engaged in similar activities with similar patterns of resource utilization and outcomes

30
Q

Industry Lifecycle

A

Introduction
Growth
Maturity
Decline

31
Q

Introduction Phase

A
  • Innovation
  • Lots of R & D
  • Customers willing to pay premium
  • Market Uncertainty
32
Q

Growth Phase

A
  • Products appeal to a wider market
  • Lower process
  • Growing sales
  • New Entrants
33
Q

Maturity Phase

A
  • Slow growth
  • Saturated market
  • Intense competition
  • Profitability
  • Price-conscious consumers
  • Advertising
  • Price wars
34
Q

Decline Phase

A
  • Decline in sales
  • Changes in demographics
  • Shifting consumer tastes
  • Technological substitution
35
Q

Technological Evolution

A

When a dominant design emerges and technical progress focuses on incremental improvements and process innovation

36
Q

Technology Forecasting

A

Cycle of:

  • Technological Discontinuity
  • Era of Ferment
  • Dominant Design
  • Era of Incremental Change
37
Q

Fosters Technological S-Curve

A

Taking a calculated risk with new technology to reduce costs and increase performance

38
Q

Thompson’s Classification of Interdependence

A

Interdependence means that extent to which departments depend on each other for resource or material to accomplish their tasks.
Pooled: Independent department
Sequential: Outputs of one department are inputs to another
Reciprocal: A and B send inputs and outputs back and forth

39
Q

Computer Aided Menufacturing

A

The use of computer software to controlmachine toolsand related machinery in manufacturing. Its primary purpose is to create a faster production process

40
Q

Variation

A

Process of ecological change where a new organizational forms appear in the population of organization

41
Q

Selection

A

Process of ecological change where the organization is able to survive and prosper in a small niche

42
Q

Retention

A

Process of ecological change where the organization grows large and become institutionalized

43
Q

Developmental Change

A

Improves existing skills, processes, methods, and performance standards

44
Q

Transitional Change

A

Replaces what already exists with something new. Depart from old methods

45
Q

Transnational Changer

A

Transforms the future state from current state dramatically. Unknown outcomes. Trial and error

46
Q

Resistance to Change

A 
Individual Resistance (Self interest, lack of trust, low tolerance for change)
Organizational Resistance (Limited focus on change)
Example of company that resisted change: Kodak
47
Q

Theory E

A
  • Short Term
  • Creates shareholder value
  • Changes organizational structure
  • Top-Driven (Bosses)
  • Performance bonuses
  • Personnel Reductions
  • Assets sales
  • Strategic Restructuring of business units
48
Q

Theory O

A
  • Short to long term
  • Develops organizational capabilities
  • Develops a support system of learning and performance
  • Participative (Not just the boss)
  • Flatter structure (Horizontal)
  • Strengthens employee loyalty
  • Commits employees to change
49
Q

Lewin’s Three Step Model

A

Unfreezing: Beginning to change organizational structure
Moving: Involving employees in change
Refreezing: Stabilizing the change

50
Q

A Learning Organization

A
  • Adapting to organizations environment (commitment to knowledge)
  • Learning from its people (self renewal)
  • Allow its community to learn
  • Individuals are connected by a shared vision
51
Q

Single-Loop Learning

A
  • Error detection and correction
  • Symptoms and not underlying causes
  • It addresses the current problem and maintains the status quo
52
Q

Double-Loop Learning

A
  • Considers underlying system
  • Goes to the source of the problem
  • It aims to change the status quo and promotes innovation
53
Q

Error Harvesting

A

-Failures are broadcasted in order for the group to learn a lesson

ADMN 1001 (2 decks)

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