Extra Exam 1 Flashcards
(28 cards)
Romantic vs External view of leadership
Romantic: leader is key force in org success or lack of
External: external forces (leader limited) determine org success
operational effectivenes
performing similar activities better than rivals.
Ambidexterity
challenge managers face of both aligning resources to take advantage of existing product markets and proactively exploring new opportunities.
Intended vs Realized strategy
Intended - only by analysis
Realized - by analysis and unforseen environment, resource, or changes in manager
Strategy formulation levels
Business, corporate, international, entrpreneurial
Triple bottom line
assessment of a firm’s financial, social, and environmental performance.
Types of leaders
- Local line leaders - profit-loss responsibility
- Executive leaders - champion and guide ideas, create learning infrastructure, establish domain for taking action
- Internal networkers - little positional power and formal authority, but generate power through conviction and clarity of their ideas
Perceptual acuity
the ability to sense what is coming before the fog clears. aka forecasts
Components of the general environment
Demographic: age, income, ethnic
Sociocultural : values belief lifestyles
Political/legal
Technological
Economic
Global
Porter’s five forces model of industry
a tool for examining the industry-level competitive environment, especially the ability of firms in that industry to set prices and minimize costs.
What are Porter’s five forces
- Threat of new entrants
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of substitute products and services
- Intensity of rivalry among competitors in an industry
6 main entry barriers
Economies of scale
Product differentiation
Capital requirements
Switching costs
Access to distribution channels
Cost disadvantages indepent of scale:
- gov subsidies or policies, access to raw materials
What is zero sum game
a situation in which multiple players interact, and winners win only by taking from other players.
Primary activies are:
Inbound logisitics
Operations
Outbound logistics
Marketing and Sales
Service: enhance value
Support activities
General Admin
HR
Tech development
Procurement
Primary vs Support activities
Primary: for creation, sale, service after sale
Support: add value to primary
Resource based view (what is)
perspective that firms’ competitive advantages are due to their endowment of strategic resources that are valuable, rare, costly to imitate, and costly to substitute.
Combines internal analysis within a comp and external analysis of industry and competitive environment
RBV: key resources
tangible
intangible
organizational capabilities
4 factors how employees can leverage
employee bargaining power
replacement costs
exit costs
manager bargaining power
Types of ratios categories
- Short-tern solvency or liquidity
- Long-term solvency measures
- Asset management (or turnover)
- Profitability
5.Market Value
What is balanced scorecard?
a method of evaluating a firm’s performance using performance measures from the customer, internal, innovation and learning, and financial perspectives.
Types of perspectives
Customer
Internal business
Innovation and learning
Financial
Knowledge economy
an economy where wealth is created through the effective management of knowledge workers instead of by the efficient control of physical and financial assets.
2 Primary Types of Mechanisms which social capital flow
- Closure relationships: the degree to which all members of a social network have relationships (or ties) with other group members.
- Bridging relationships: relationships in a social network that connect otherwise disconnected people.
