Management Test Three Ch 7-9

  1. Is the act of determining goals and defining the means of achieving them
  2. Is a broadly stated definition of the organization's basic business scope and operations that distinguishes it from similar types of organizations
    Mission Statement
  3. Are broad statements of where the organization wants to be in the future and pertain to the organization as a whole rather than to specific divisions or department
    Strategic Goal
  4. is a desired future state that the organization wants to realize
  5. The out comes that major divisions and departments must achieve for the organization to reach its overall goals
    Tactical Goals
  6. Are specific, measurable results that are expected from departments, work groups, and individuals.
    Operational Goals
  7. are plans that are developed to achieve a set of goals that are unlikely to be repeated in the future.
    Single-use plans
  8. Are ongoing plans that are used to provided guidance for tasks that occur repeatedly in the organization.
    Standing Plans
  9. Identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, set backs, or unexpected conditions.
    Contingency Planning
  10. Name the five (5) key criteria for effective goals
    • 1) Are linked to rewards
    • 2) Are specific and measurable
    • 3) Have a defined time period
    • 4) Cover Key results areas
    • 5) Are challenging but realistic
  11. is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining goals.
  12. is something that the organization does particularly well in comparison to others.
    Core Competence
  13. refers to the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
    Strategic management
  14. refers to what sets the organization apart from others and provides it with a distinctive edge in the marketplace.
    Competitive advantage
  15. pertains to the mix of SBU's and product lines that fit together in a logical way to provide synergy and competitive advantage.
    Portfolio Strategy
  16. The strategy of moving into new lines of business
  17. refers to expanding into totally new lines of business
    Unrelated diversification
  18. Means expanding into businesses that either provide the supplies needed to make products or distribute and sell the company's product
    Vertical Integration
  19. is a strategy with which managers seek to distinguish the organization's products and services from those of others in the industry
    Differentiation strategy
  20. products design and advertising are standardized throughout the world
    Globalization Strategy
  21. means that competition in each country is handled independently; product design and advertising are modified to suit the specific needs of individual countries
    Multi-domestic strategy
  22. What are the three (3) specific questions that relate to the three different levels of strategy?
    • 1) Corporate-Level Strategy- What business are we in?
    • 2)Business-Level Strategy- How do we compete?
    • 3)Functional-Level Strategy- How do we support the Business-Level Strategy
  23. Is the process of identifying problems and opportunities
    Decision Making
  24. is a choice made from available alternatives
  25. is one made in response to a situation that has occurred often enough to enable managers to develop decision rules that can be applies in the future
    Programmed decisions
  26. is one made in response to a situation that is unique is poorly defined and largely unstructured, and has important consequences for the organization
    Non-programmed decisions
  27. Occurs when managers know which goals they want to achieve, but information about alternatives and future events is incomplete
  28. is a condition in which the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes in unavailable
  29. is based on the assumption that managers should make logical decision that are economically sensible and in the organizations best economic interest
    Classical model
  30. Means that people have the time and cognitive ability to process only a limited amount of information on which to base decisions
    Bounded Rationality
  31. is an aspect of administrative decision making that refers to a quick comprehension of decision situation based on past experience but without conscious thoughts
  32. is an informal alliance among managers who support a specific goal or solution
  33. is a situation in which managers see potential organizational accomplishments that exceed current goals
  34. refers to the tendency of people in groups to suppress contrary opinions in a desire for harmony
    Group think
  35. is a technique that uses a face-to-face group to spontaneously suggest a broad range of alternatives for making a decision.
    Brain storming
  36. willingness to undertake risk with the opportunity of gaining an increased payoff
    Risk propensity
  37. means choosing that first alternative that satisfies minimal decision criteria, regardless of whether better solutions are presumed to exist
  38. The four (4) major assumption associated with the ideal, rational model of decision making.
    • 1) define the problem
    • 2) get information and certainty¬†
    • 3) look at and compare alternatives and select one
    • 4) make sure you are thinking rationale
Card Set
Management Test Three Ch 7-9
Stark State management Test Three