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Fund Mgmt Test 2
Chapters 8-11
42
Management
Undergraduate 4
10/25/2012

Additional Management Flashcards

 


 

Cards

Term
business level strategy
Definition

business plan for a specific industry or product. 

Ex: PepsiCo and the strategy for Pepsi/Lays

Term
corporate level strategy 
Definition

business plan on a corporate level, managing several industries and markets.

Ex: PepsiCo & Lays

1 business plan as a whole.

2 plans individually. 

Term
distinctive competency
Definition

something a company does really well that makes them stand out. 

Ex: good service, high quality

Term
scope
Definition

the range of a market

or

the range of business activities, one product or several

Term
SWOT
Definition

Exploit: Strengths and Weaknesses

Eliminate: Threats

Hide/Minimize: Weaknesses

Term
competitive parity
Definition

established industries that are similar

Ex: fast food 

Term
sustained competitive advantage
Definition

maintating your competitive advantage. Staying ahead of other competition. 

-Hard to do

Term
Porter's generic strategies for business level strategy
Definition

differentiation: distinguishing characteristics

cost leadership: lower $ than competitors

focus: on a specific market, product line, or group of buyers.

Term
Miles/Snow Typology
Definition

defender

analyzer

reactor 

prospector

Term

Miles Snow Typology

Defender

Definition

protects consumer market

stable growth

current customers

 

Term

Miles/Snow Typology

Analyzer

Definition

maintains current market

current customers satisfation

moderate innovation

Term

Miles/Snow Typology

Reactor

Definition

no clear stategy 

reacts to changes

drifts with events

Term

Miles/Snow Typology

Prospector

Definition

innovative and growth oriented

searches for new markets

new growth

risk taking

Term
synergy
Definition
working as a group is more productive than working as individuals
Term
diversification as a corporate level strategy
Definition

Forward verticle: cut out the middle man, and sell to the customers customers.

backward verticle: stop buying from other companies and do that service yourself. 

Ex: soda co starts bottling company

Term
BCG Matrix
Definition

stars

question marks

cash cows

dogs

Term
programmed decision
Definition

routine and regular, details are worked out

Ex: class regestration

Term
non-programmed decision
Definition
ustructured and occurs less often than a programmed decision
Term
under certainty
Definition
knows other options
Term
risk
Definition
knowing the other alternatives and thier payoffs
Term
uncertainty 
Definition
not knowing the alternatives
Term

classical model of decision making

=>

perspective model

Definition

ideal conditions

rationality

Term
administrative model of decision making
Definition

based on behavioral processes that affect how managers make decisions.

- incomplete and imperfect info.

- constrained by bounded rationality

- tend to satisfice

Term
delphi group
Definition
expert group
Term
entreprenuers role in society
Definition

jobs 

small businesses

Term
entreprenuers importance to large businesses
Definition
small businesses are the large businesses best customers
Term
niche
Definition
a part of the market that is under served
Term
first mover advantage
Definition
first to get in on something and get established; ususally means success
Term
buying an existing business
Definition

already have a customer base 

established repuatation

know what youre getting

Term
starting a business from scratch
Definition

freedom 

long hours

no steady income 

risk 

Term
financing new business
Definition

usually personal funds

loans 

govnt 

Term
fanchising 
Definition

contractual 

costs to get in 

customers already set

advertising 

Term
job specialization
Definition

+more productive

+fewer workers

-boring 

-low moral

Term
alternatives to job specialization
Definition

job rotation 

job enrichment 

job enlargement

Term
jobs characteristics approach
Definition

skill varaiety 

task identitiy

task significance 

atonomy 

Term
functional departmentalization
Definition

grouping by function

ex: accounting

HR

 

Term
product departmentalization
Definition
by product life cycle, growth, mature, design etc. 
Term
scalar principle
Definition

clear and unbroken line of authority all the way to the top

 

Term

tall / flat organizations

 

Definition

Tall: cost more, decision making is slower, less span of control

flat: managers have more people, desision making is faster, communication is better, 

Term
span of control
Definition
how many answer/report to a manager
Term
centralization
Definition
retaing power and authority in the hands of higher level managers
Term
decentralization
Definition
systematically delegating power and authority throughout an organization
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