Exam 2 Flashcards
(47 cards)
Types of grand strategies
Grow- product additions, geographically, acquisitions
stability- same for years
retrenchment- sell off company
Types of global strategies
globalization- coke, levis
multi-domestic- DuPont chem
transnational- McDonalds
Levels of strategy
Corporate- whole company
Business unit- individual divisions
Functional- day to day
Competitive Strategies
Differentiate products
cost
focus
SWOT
Strengths/ Weaknesses/ Opportunities/ Threats
BCG matrix
HH= star HL = ? LH= cash cow LL= dog
programmed decisions
routine decisions
non-programmed decisions
complex decisions
Classical decision making
logically go through steps to make a decision
administrative decision making
do the best you can within a time constraint
political decision making
build a coalition, What’s in it for me? 10% for and against you, need to convince 80%
decision making process
- recognize problem
- analyze
- Alternatives
- choose
- implement
- evaluate
Line authority
have formal authority over immediate subordinates
staff authority
the right to advise, counsel, and recommend in special areas
span of mgmt/control
who/ how many directly report to manager
solid line reporting
who directly reports to a manager
dotted line reporting
who indirectly reports to a manager
centralization
decision authority is located near the top of the organization
decentralization
decision authority is pushed downward to lower organization levels
functional structure
grouping of positions into departments based on similar skills
divisional structure
departments are grouped by similar organizational outputs
matrix structure
combines aspects of functional and divisional; 2 bosses
team based structure
entire org is made up of horizontal teams that coordinate their work and work with customers
network structure
outsourcing most major functions
