blob Flashcards
What are the 4 steps of the strategic planning process?
Establish mission, goals, vision
SWOT analysis and form strategy
Implement strategy
Control strategy
Define these corporate strategies:
Concentration -
Concentric -
Conglomerate -
Backward Vertical integration -
Forward vertical integration -
Concentration - business focuses on one industry
Concentric - creates similar businesses
Conglomerate - tries businesses they have not previously specialized in.
Backward Vertical integration - company owns supplier
Forward vertical integration - company owns distribution channel
What are the value chain steps in order?
A value chain is the sequence of activities that begins with raw materials that increases Profit margins when optimized.
Supply and demand?
Operations and logistics?
Outsourcing or insourcing?
Delivery of products or services
What are the steps of organizational strategic planning in order?
Developing a strategic mission
Developing operational goals?
Developing internal strengths?
Developing external opportunities?
define these quality improvement apporaches:
Six Sigma
Flexible Process
Customer Process
Quality Customization
ISO 9000
Reengineering
Continuous processing
Six Sigma - uses statistical tools, eliminates nonconformity, continuous effort to reduce variation.
Flexible Process
Customer Process
Quality Customization
ISO 9000
Reengineering
Continuous processing
What these principal ideas are associated with:
To analyze system failures
To focus on creating two-way exchanges with customers
To revolutionize key organizational systems and processes
To improve total quality in all businesses for the benefit of producers and consumers
To analyze system failures - Sigma
To focus on creating two-way exchanges with customers - CRM
To revolutionize key organizational systems and processes - reengineering
To improve total quality in all businesses for the benefit of producers and consumers - TQM
Define:
Quality Control
Quality Assurance
Quality Control - determines quality level of products (Reactive)
Quality Assurance - Process checklists and project audits. (proactive) Is a complete system of management that also includes quality control.
flexible factories
short production runs, organized around products, has decentralized scheduling
What are the steps of the control process in order and what they do?
Setting performance standards
Measuring performance
Comparing performance against standards
Taking corrective action - operations are adjusted to achieve planned results.
When selecting an organizational structure, which key elements should be considered?
Differentiation: units and the skills and methods each uses to complete their varying tasks.
Integration: How closely these units work together in their efforts.
Differentiate between these corporate designs:
functional
Network
Divisional
matrix
functional : departmentalization around activities (HR, marketing, production).
Network : dynamic virtual design, multiple organizations working together temporarily.
Divisional - departmentalization based on product or location (regional manager).
matrix- functional managers report to two bosses, functional & divisional, communication oriented.
standardization control vs formalization control?
standardization: common routines and procedures that uniformly apply to everyone.
formalization: rules and regulations that govern how people interact with each other.
Tasks are certain and workers are independent
bureaucratic control
tangible output can be identified
market control
employees empowered to make decisions, works where there is no “best method” to do a task
clan control
