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MANA > EXAM 2 > Flashcards

EXAM 2 Flashcards

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1
Q

Used repeatedly to handle frequently recurring events

A

Standing plans

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2
Q

Each decision criterion is compared to a standard or ranked on its own merits

A

Absolute comparisons

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3
Q

Each decision criterion is compared directly with every other criterion

A

Relative comparisons

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4
Q

2 COMPARISONS

A
  1. Absolute comparisons 2. Relative comparisons
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5
Q

2 Structured conflicts

A
  1. C-type conflict 2. A-type conflict
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6
Q

Begins and ends by having group members write down and evaluate ideas Shared with the group Improves group decision making by decreasing a-type conflict

A

Nominal group technique

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7
Q

sMART Definition:

A

goals that are specific, measurable, attainable, realistic, and timely

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8
Q

maintaining planning flexibility by making small, simultaneous investments in many alternative plans

A

options-based planning

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9
Q

Definition: a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities

A

slack resources

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10
Q

strategic plansDefinition:

A

overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years

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11
Q

Definition: a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment

A

Management by objectives

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12
Q

Definition: a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions

A

Rational decision making

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13
Q

Definition: a decision-making method in which decision makers state the assumptions of a proposed solution (a thesis) and generate a solution that is the opposite (antithesis) of that solution

A

dialectical inquiry

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14
Q

Definition: a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group

A

nominal group technique

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15
Q

Definition: a disadvantage of face-to-face brainstorming in which a group member must wait to share an idea because another member is presenting an idea

A

production blocking

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16
Q

Definition: disagreement that focuses on problem- and issue-related differences of opinion

A

C-type conflict (cognitive conflict)

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17
Q

A-type conflict (affective conflict) Definition:

A

disagreement that focuses on individuals or personal issues

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18
Q

Definition: a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate

A

sustainable competitive advantage

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19
Q

Definition: a discrepancy between a company’s intended strategy and the strategic actions managers take when implementing that strategy

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A

Strategic dissonance

20
Q

Definition: a group of companies within an industry against which top managers compare, evaluate, and benchmark strategic threats and opportunities

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A

strategic group

21
Q

Definition: the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage

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A

Strategic reference points

22
Q

Definition: a portfolio strategy developed by the Boston Consulting Group that categorizes a corporation’s businesses by growth rate and relative market share and helps managers decide how to invest corporate funds

23
Q

Definition: a strategy that focuses on improving the way in which the company sells the same products or services to the same customers

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A

stability strategy

24
Q

Definition: a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business

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A

retrenchment strategy

25
Definition: the strategic actions taken after retrenchment to return to a growth strategy
Recovery
26
Definition: the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can, so that the firm can offer the product or service at the lowest price in the industry
Cost leadership
27
Definition: the positioning strategy of using differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment
focus strategy
28
Definition: companies using an adaptive strategy aimed at defending strategic positions by seeking moderate, steady growth and by offering a limited range of high-quality products and services to a well-defined set of customers
Defenders
29
Definition: companies using an adaptive strategy that seeks fast growth by searching for new market opportunities, encouraging risk taking, and being the first to bring innovative new products to market
Prospectors
30
Definition: companies using an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors
Analyzers
31
Definition: companies that do not follow a consistent adaptive strategy but instead react to changes in the external environment after they occur
reactors
32
Definition: patterns of innovation over time that can create sustainable competitive advantage
innovation streams
33
INVENTED "FREEZING" CONCEPT
CURT LEWIN
34
Definition: a cycle of repetition in which a company tests a prototype of a new product or service, improves on that design, and then builds and tests the improved prototype
design iteration
35
WROTE "LEADING CHANGE"
JOHN KOTTER
36
Definition: an approach to innovation that assumes that incremental innovation can be planned using a series of steps and that compressing those steps can speed innovation
compression approach to innovation
37
forces that support the existing conditions in organizations.
resistance forces
38
Definition: the process used to get workers and managers to change their behaviors and work practices
change intervention
39
Definition: quickly experimenting with new ideas to solve customer problems and learn from repeated tests and improvements
General Electric fastworks
40
4 CRITERIA OF SUSTAINABLE COMPETITIVE ADVANTAGE
1. VALUABLE 2. RARE 3. NONSUBSTITABLE 4. IMPERFECTLY INIMITABLE
41
STRATEGIC REFERENCE POINTS CHART
42
Measure of the intensity of competitive behavior between companies in an industry
•Character of the rivalry:
43
Porter’s Five Industry Forces
44
2. Corporate-Level Strategies
1. Portfolio strategy 2. Grand strategy
45
3 Industry-Level POSITIONING Strategies
1. Cost leadership 2. Differentiation 3. Focus strategy
46
4 Industry-Level ADAPTIVE Strategies
1. Defenders 2. Prospectors 3. Analyzers 4. Reactors

MANA (5 decks)

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