Final Exam Flashcards Preview

ADMN 1001 > Final Exam > Flashcards

Flashcards in Final Exam Deck (53):
1

Strategy

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

2

Strategic Management

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

3

Industry

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

4

Fiver Forces Model

Potential Entrants
Suppliers
Industry Competitors
Buyers
Substitutes

5

VRIO Model

Value
Rareness
Imitatability
Organization

6

SWOT Analysis

Internal
-Strength
-Weakness
External
-Opportunities
-Threats

7

Business Level Strategies

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

8

Boston Consulting Group Matrix

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

9

Diversification

Intra and Interfirm dynamics motivate it

10

Vertical Integration

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

11

Globalization

-Integration of national economies
-a single world economic system
-Growth in direct foreign investment

12

Sources Encouraging Global Business

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

13

Channels of Global Business

-Establish Subsidiaries
-Exports and Imports
-Outsourcing
-Licensing and Franchising
-Direct Investment in Foreign Operations
-Joint ventures and alliances
-Mergers and acquisitions

14

Subsidiaries

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

15

Multinational Corporations

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

16

Regional Economic Integration

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

17

Sustainable Development

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

18

Triple Bottom Line Framework

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?

19

Resource Depletion

Loosing water

20

Greenhouse Gas Emissions

Burning fossil fuels in the process of daily industrial functions

21

Carbon Footprint

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

22

Fracking

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

Living Planet Indes

Measure changes to the worlds biological diversity

24

Ecological Footprint

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

25

Index of Sustainable Economic Welfare

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

26

Genuine Progress Indicator

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

27

Human Poverty Index

Measures: Longevity, knowledge and decent standard of living

28

Population Ecology

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

29

Population

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

30

Industry Lifecycle

Introduction
Growth
Maturity
Decline

31

Introduction Phase

-Innovation
-Lots of R & D
-Customers willing to pay premium
-Market Uncertainty

32

Growth Phase

-Products appeal to a wider market
-Lower process
-Growing sales
-New Entrants

33

Maturity Phase

-Slow growth
-Saturated market
-Intense competition
-Profitability
-Price-conscious consumers
-Advertising
-Price wars

34

Decline Phase

-Decline in sales
-Changes in demographics
-Shifting consumer tastes
-Technological substitution

35

Technological Evolution

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

36

Technology Forecasting

Cycle of:
-Technological Discontinuity
-Era of Ferment
-Dominant Design
-Era of Incremental Change

37

Fosters Technological S-Curve

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

38

Thompson's Classification of Interdependence

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

Computer Aided Menufacturing

The use of computer software to control machine tools and related machinery in manufacturing. Its primary purpose is to create a faster production process

40

Variation

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

41

Selection

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

42

Retention

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

43

Developmental Change

Improves existing skills, processes, methods, and performance standards

44

Transitional Change

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

45

Transnational Changer

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

46

Resistance to Change

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

Theory E

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

48

Theory O

-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

Lewin's Three Step Model

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

50

A Learning Organization

-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

Single-Loop Learning

-Error detection and correction
-Symptoms and not underlying causes
-It addresses the current problem and maintains the status quo

52

Double-Loop Learning

-Considers underlying system
-Goes to the source of the problem
-It aims to change the status quo and promotes innovation

53

Error Harvesting

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