Term
| Discuss the four societal evnrionment - improatnt variables and examples |
|
Definition
| economic (interest rates, inflation, unemployment); technological (industry spending R&D, patent proecttion); political-legal (antitrust regualtion, environment, tax laws); sociocultural (lifestyle changes career expectations) |
|
|
Term
| How would you put an issue towards management? |
|
Definition
|
|
Term
|
Definition
the developmetn of short nad long term plans to management of threats and weakness in light of strength and weeknesses of an organization. defining mission, dteremine acchivable objectives, develop strategies and setting policy guidlines
|
|
|
Term
| what are porters 3 competitive strategies and examples |
|
Definition
low cost (walmart)/
differentiate (apple)/ focus on niche |
|
|
Term
| what happens when companies do not pick one of the three porter strategies |
|
Definition
| companies will ahve to choose or they are stuck in teh middle (they can choose a mixture) |
|
|
Term
| Discuss Strategic inertia |
|
Definition
a company has to utilize strategic inertia and change even though the way they are doing things are working. This is why organizations fail becuaset hey continue to do the same thing thinking it will keep them sucessful
DEFINED as the habitual reliance on a (previously successful) organizational 'recipe' or success formula |
|
|
Term
|
Definition
| take one dominant strategy and move into another dominant strategy |
|
|
Term
| discuss a learning organization |
|
Definition
an organization that is not stagnant
benchmark; better situated to deal with changing enviornment; duscuss learning organization with regardinds to oganazational design, infrmation sharing, orgnaization culture and strong leadership |
|
|
Term
| Discuss the downside of a vision mission? |
|
Definition
|
|
Term
| What ist eh difference between a goal and a objective |
|
Definition
| a goal is an open ended statement of what one wants to accomplish with no quantification of what is to be achieved and no time criteria for completion |
|
|
Term
| Discuss broad corporate strategies and theri relatoinship to SWOT |
|
Definition
|
|
Term
|
Definition
willingness to reject unfamiliar as well as negative information;
strategically companies need to try to be proactive by avoiding strategic myopia and not be reactive by avoiding negative things |
|
|
Term
| 4 important parts of virtual teams |
|
Definition
| -mutual undrestanding of cultural differences - webcasts can be impiorant for face to face communication - setting up time for phone calls when different time zones are an issue. - adapting yourself to the expectations of others |
|
|
Term
| what is an important aspect of differentiating |
|
Definition
| your differentiating has to be valuable for the market. |
|
|
Term
| Discuss some risks of a cost leadership |
|
Definition
| - competitors imitate - technology changes - otehr bases for cost leasdership errode -proximity in differeneitation is lost |
|
|
Term
| Discuss some risks of differentiation |
|
Definition
- comeptitors imidate
- basis for differentiation becomes less important to buyers - |
|
|
Term
Discuss some risks of focused strategy
|
|
Definition
| -structure erodes - demand disappears as braodly targeting competitiors overwhelm the segment - |
|
|
Term
| what is a fragmented industry and in a fragmented industry which strategy is predominant and what is an example |
|
Definition
| small med business compete for small shares of total market - focus strategies - funeral homes |
|
|
Term
| what is a consolidated industry and in a consolidated industry which strategy is predominant and what is an example |
|
Definition
| mature industry dominated by a few large companies- cost leadership or differentiation is predominant (car companies) |
|
|
Term
|
Definition
| way of consolidating an fragmented industry - acquisition of inedependent businesess for the purpose of consolidating an industry and securing a dominant position in it |
|
|
Term
|
Definition
| partnership of two or more corporations or business units to achieve strategically significant objectives that are mutually beneficial |
|
|
Term
| what was the main point to the movie "market rebels" |
|
Definition
| new markets arrive through social movement whcih 1) create cradical innovation and 2) target large organizaions....by understanidng these ssocial movements strategically you can undrestand where new niches can be made |
|
|
Term
| compare and contrast the basic concentration strategies |
|
Definition
| verticle growth is along the supply chain backwards or forwards, horizontal growth means moving to other geographical areas or expanding product line |
|
|
Term
| example of full integration |
|
Definition
|
|
Term
| example of taper integration |
|
Definition
| sony store, has their own stores but also sells in other sotres like wal mart |
|
|
Term
|
Definition
| motorolla purchasing 20% of common shares of in focus thus ensuring access to technology |
|
|
Term
| differentiate between horizontal growtha dn horizontal integration (example) |
|
Definition
| growth - moving into other geographical areas, integration getting partnership wtih other comapny already in a particular area (air canada and star alliance) |
|
|
Term
| discuss concentric diversification |
|
Definition
| moving into related induatry and searching for synergiies and sharing core competancies |
|
|
Term
| discuss conglomerate diversification*********** |
|
Definition
| going against core competancies by gorwing into unrelated industry; you are trying to diversify rissk here and get different cash flow effects of havnig unrelated products (counter flow) |
|
|
Term
| 3 key prerequisites for strategy implementation |
|
Definition
| 1. commitment (strong leadership and plan through to implementation. 2. communication along every step of the way 3. contribution every individual has a part to play |
|
|
Term
| Name two problems for strategy implementation |
|
Definition
| more time than planned, unanticipated problems, activities ineffectively coordinated, crises deferred attention away, employees without capabilities, inadequate employee training, controllable external factors, inadequate leadership, poorly defined tasks, inadequate info systems |
|
|
Term
|
Definition
| shared know how, coordinated strategies (horizontal and verticle), shared tangible resources (r and d), economies of scale and scope, pooled negotiating power, new business creation |
|
|
Term
| critical success factors to strategic plan implementation |
|
Definition
| make the planning process a way of manageing not an annual episode, hold people accountable for results, rethink the or gstructure if you are deviiding responsiblity, think in terms of cause and effect, complete accurate info to make decisions, provides adequate staff/tools for support, miles tones and control points to monitor, keep people who create goals on hand |
|
|
Term
|
Definition
| birth growth maturity dcline and death |
|
|
Term
| hardest strategy for organizational change |
|
Definition
|
|
Term
| firm performance in three org change possibilities |
|
Definition
| anticipatory high; reactive; crisis low |
|
|
Term
| need for change in three org change possibilities |
|
Definition
| anticipatory not apparent; reactive; crisis obvious |
|
|
Term
| managemnet role in three org change possibilities |
|
Definition
| anticipatory show need to change; reactive where to start; crisis aquire resource make change quickly |
|
|
Term
| major obstacles in three org change possibilities |
|
Definition
| anticipatory lack of commiemtn; reactive disagreement; crisis recruitng to assist with turn around |
|
|
Term
| reengineering described and example |
|
Definition
radical design of business process to achieve major gains in cost service and time; effective in directing turn around
; example is insurance document |
|
|
Term
| matching executive types with strategy diagram |
|
Definition
|
|
Term
| assessing strategy culture compatibility |
|
Definition
|
|
Term
| Diagram manaing culture of acquired firms |
|
Definition
|
|
Term
| international issues in staffing mainly; focus on; delierate |
|
Definition
| not just technical skills; focus on transferring knowledge and developing global leadership; deliberate repatriation at the end of assignment |
|
|
Term
| four methods of managing different cultures following an acquisition, example of the last |
|
Definition
| integration, assimilation, separation, deculturation cibc and wood gundy |
|
|
Term
| internet impact on staffing and leading, define and two types |
|
Definition
| intranet (internal internetnet), static intranet (updated periodically), dynamic intranet (continuously updated) |
|
|
Term
| evaluation and control process diagram |
|
Definition
|
|
Term
| SPC what does it stand for and |
|
Definition
| statistical process control ; made up of daily reports, on productivity per day efficiency and involves taking corrective action right away |
|
|
Term
| MVA what does it stand for and example; not just ____ |
|
Definition
| market valuea dded, difference between the market value of a corporation and captial contributed by shareholders and lenders, not just fniancial measures; example is R and D addited to capital expense you are taking and is going to add value in the end. |
|
|
Term
|
Definition
| 1. identify the area or process to be examined, 2. find output measures and ubtain measurment 3. select best in class to bench market agains (industry focus) 4 calculate differences and determine why 5 develop tactical programs for closing gaps 5. implement programs and compare. |
|
|
Term
|
Definition
| refers to relationship among directors, management and shareholders in determining the direction and performance of the corporation |
|
|
Term
| trends in corporate governance (9 possible) |
|
Definition
| 1 boards more involved 2. institutional investors (Ontario teachers) giving pressure 3. shareholders demend directors own more stock 4. non-affiliated outside directors increasing 5. boards becoming smaller 6. more control of board functions 7. international expierence on global firms 8 balance of profit and SR 9. diversity |
|
|
Term
| styles of corporate governance diagram |
|
Definition
|
|
Term
| what is the third sector of the economyl examples |
|
Definition
| non -profits; universities, arts, foodb anks, trade associations, churches moskes temples ect |
|
|
Term
| describe non profits portfolio analysis involving piggybacking example |
|
Definition
| an organization should acquire or develop a business that is new for the institution and that may be unrelated to the institution's primary mission. The purpose of this new activity is to subsidize, at least in part, the deficit-producing primary mission; piggybacking ie girl guides sell cookies |
|
|
Term
| constraints for strategic mgmt of non profits (5) |
|
Definition
| 1. service intangible 2. client influence weak 3. strong employee commitments 4. resource contributors5. restraints on punishments and rewards |
|
|
Term
| non profit strategic alliances example |
|
Definition
| u of a and u of c joining in the executive MBA program |
|
|
Term
| key differentiators between profit making and non profit firms? |
|
Definition
| the way they get cash one is through dues assessments or donations and the other from sales of good and services |
|
|
Term
| examples of goal displacement |
|
Definition
| behavior substitution and sub optimization |
|
|
Term
|
Definition
| managers focus on rewarded behavior, such as that behavior that is measured by short term activities, like number of sales. This behavior may not contribute to long term corporate goals. For example, if the manager is conflicting with the work force |
|
|
Term
|
Definition
| divisions may refuse to cooperate with other divisions if it hurts their evaluation. Even competition between divisions can prevent technology sharing. This may affect the whole firms performance. |
|
|
Term
| Guidelines for Control (6) |
|
Definition
1. Controls should minimize the information used, so 20 percent of the critical success factors determine 80 percent of the results.
2. Monitor only meaningful activities and results, ie. measure cooperation.
3. Controls should be timely, ie. steering controls influence performance.
4. Some controls are long term and some are short term.
5. Controls should point out exceptions, ie. those outside of the tollerance range.
6. Controls should reward meeting and exceeding standards. Not punish for missing standards. You do not want false reports. Let guiding vaules in the corporate culture guide workers. |
|
|
Term
| two problems with measuring performance, describe the second |
|
Definition
| goal displaecment and short term orientation ;often long run impact of strategies on the corporate mission are not analyized. Many managers believe executives are interested in quarterly reports and tomorrow's stock price. Many accounting measures emphasis short term measures (ROI). Tricks in accounting can hide poor performance: not reporting the returns of sale items, |
|
|
Term
| four aspects to balanced scorecard |
|
Definition
| financial (shareholders see us), customer (customers see us), internal business perspective (what we excel at), innovation and learning (improve to create value) |
|
|
Term
| Disctinctive competancies must meet three tests |
|
Definition
| 1. create customer value, 2. competancy unique versus those of competitors, and 3. enhance extendibility |
|
|
Term
| firms can gain access to distinctive competiencies in 4 ways |
|
Definition
| 1. asset endowment (patent leveraging xeriox) 2. acquisitions (buy it) 34. share with another business unit 3. build and accumulated (cirque du soleil) |
|
|
Term
| discuss the differences between push and pull |
|
Definition
| push tries to get shelf space and trade promotion and pull gains customer awareness and gets customers to ask about their product (kelogg) |
|
|
Term
|
Definition
| stock issued by a parent company that tracks the performance of a particular division without having claim on the assets of the division or the parent company; tracking stock performance of subsidary but still are part of the parents |
|
|
Term
| outline how r adn d strategy can be designed with leadership followre and cost/differentiation |
|
Definition
|
|
Term
| operations can have 4 types of manufacturing strategy |
|
Definition
| 1. job shop, 2. connected line batch flow 3. flexible manufacturing system 4. dedicated transfer lines |
|
|
Term
| in what area of manufactrying strategy does efficiency outweigh flexibiltiy |
|
Definition
| flexible manufacturing system |
|
|
Term
| in what area of manufactrying strategy does it use robotics and advanced technology |
|
Definition
| dedicated transfer lines. |
|
|
Term
| manufacturing strategy has seen a movement away from pmass production to thes four things |
|
Definition
| continusous improvement, modular manufacturing (JIT), mass customization to lean manufacturing |
|
|
Term
| outline strategies to avoid: (6) |
|
Definition
| 1. follow the leader 2. bet the firm 3. hit another home run 4. arms race 5. do everything 6 losing hand |
|
|
Term
| discuss some pressures from stakeholders |
|
Definition
| 1. high and med priority stakeholdres affected 2. how much of what shareholder expecting are tehy goign to get 3.what will they do if they dont get it 4 the probability of the former |
|
|
Term
| presusres for org culture |
|
Definition
1. is the strategy compatical with org culture, if not then its success potential is low
2. |
|
|
Term
| strategies chosen should meet some of the following criteria |
|
Definition
| 1. success 2. ability to implement 3 completeness 4. internal consistency |
|
|
