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Management Principles Exam 2
Management Principles 210 with Nieman Spring 2013
54
Business
Undergraduate 2
02/24/2013

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Cards

Term
Organization _____ is the successful implementation of creative ideas in organizations
Definition
innovation
Term
The development of CDs was a source of ____ to companies in the recording industry just as cassette tapes and 8-track tapes had once been
Definition
technological discontinuity
Term
An organization is experiencing __ when it is reluctant to change strategies or competitive practices that have been successful in the past.
Definition
competitive inertia
Term
____ occurs when managers choose an alternative that is good enough, rather than the best possible alternative.
Definition
Saticficing
Term
The____ approach to managing innovation assumes that innovation is a predicatale process made up of a series of steps and that compressing the times it takes to complete those steps can speed up innovation
Definition
compression
Term
___ is the emotional reaction that can occur when disagreements become personal rather than professional.
Definition
A-type conflict
Term
The two general kinds of trade barriers are___.
Definition
tariff barriers and nontarrif barriers
Term
The positioning strategies identified by Michael Porter are___.
Definition
focus, cost leadership, and differentiation
Term
A technology ____ begins with the birth of a new technology and ends when that technology reaches its limit and dies as it is replaced by a newer, substantially better technology.
Definition
cycle
Term
How does a company benefit from planning?
Definition
intensified effort, persistence, direction, and creation of task strategies
Term
Starbucks, the operator of Starbucks coffeehouses, also markets a line of compilation CDs under the brand name Hear Music. The making and marketing of CDs would be an example of___.
Definition
unrelated diversification
Term
An expatriate is someone who___.
Definition
lives and works outside of his or her own country
Term
Patterns of innovation over time that can create sustainable competitive advantage are called ____/
Definition
innovation streams
Term
A_____ strategy is a corporate strategy that addresses the question "How should we compete in this industry?"
Definition
industry-level
Term
The last step in effective planning is to ____.
Definition
maintain flexibility in planning
Term
The acronym GATT stands for the ____.
Definition
General Agreement on Tariffs and Trade
Term
a ____ is a nontaxable method of increasing the cost or reducing the volume of imported goods.
Definition
nontariff barrier
Term
Planning is ultimately based upon ____.
Definition
choosing a goal and developing a method or strategy to achieve that goal
Term
a ____, also called a SWOT analysis for Strengths, weaknesses, opportunities, and threats, is an assessment of the strengths and weaknesses in an organizations internal environment and the opportunities and threats in its external environment.
Definition
situational analysis
Term
___ are workplace cultures in which workers perceive that new ideas are welcomed, valued, and encouraged.
Definition
creative work environments
Term
A ___ is the individual who is formally in charge of guiding a change effort.
Definition
change agent
Term
A multinational company that acts with ___ has offices, manufacturing plants, and distribution facilities in different countries which are all run based on the same rules, guidelines, policies, and procedures.
Definition
global consistency
Term
____ plans are plans that specify how a company will use resources, budgets, and people to accomplish specific goals within its mission.
Definition
Tactical
Term
An organization is experiencing ___ when there is a discrepancy between upper management's intended strategy and the strategy actually implemented by the lower levels of management.
Definition
strategic dissonance
Term
The___ is a type of operational plan that saves managers time because it is created once and then used repeatedly to handle frequently recurring events
Definition
standing plan
Term
There are three kinds of ___ plans. The are single use plans, standing plans, and budgets.
Definition
operational
Term
Which of the following methods for managing resistance to change should only be used as a last resort of under crisis conditions.
Definition
coercion
Term
Kodak is a company name associated with photography. The company has recognized that digital photography is a threat to the future growth of a company. Therefore, the company decided to become a market leader in digital imaging. The development of the digital camera forced Kodak into the innovation stream because the new imaging process was a technological ______.
Definition
discontinuity
Term
What type of planning would be used to create the festivities necessary to celebrate the 100 year anniversary of a furniture manufacturer?
Definition
Single-Use Plan
Term
A ___ is a statement of a company's purpose or reason for existing.
Definition
mission
Term
Organizational development ___.
Definition
is a philosophy and collection of planned change interventions
Term
Protectionism is the use of trade barriers to protect local companies and their workers from ___.
Definition
foreign competition
Term
___ refers to the production of novel and useful ideas.
Definition
Creativity
Term
A company has experience organizational ___ when its form, quality, or condition changes over time.
Definition
Change
Term
The three steps in the basic process of managing organizational change outlined by Kurt Lewin are ___.
Definition
unfreezing, freezing, and refreezing
Term
The two major approached to corporate-level strategy are__.
Definition
grand strategies and the portfolio stategy
Term
A ___ lists the specific steps, people, resources, and time period for accomplishing a goal.
Definition
action plan
Term
Deutsche Bank became the worlds largest bank through mergers with Bankers Trust, a transatlantic banking operation. Since both banking companies has similar core capabilities, this would be classified as an example of ___.
Definition
related diversification
Term
What are the strategies that can be used to minimize or adapt to the political risk inherent to global business?
Definition
control, avoidance, and cooperative strategies
Term
The term ___ refers to the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"
Definition
corporate level strategy
Term
A manufacturer of suntan lotion could set a ___ goal to increase revenues by 8 percent over the next five years and a __goal to increase sales next June in Miami Beach by 3 percent.
Definition
distal; proximal
Term
Who is responsible for the creation of tactical plans?
Definition
Middle Managers
Term
When making travel plans, many tourist have selected Thomas Cook, a british tour operation, because they percieve the tour company as being superior to all others. No other tour service can duplicate the customer service and satisfaction that Thomas Cook has provided over its years of operation. Thomas Cook has apparently created a sustainable competitive advantage by using ___ resources.
Definition
Nonsubstitutable
Term
A ___ is a resource that is impossible or extremely costly or difficult for other firms to duplicate.
Definition
imperfectly imitatable
Term
An organization that has ___, has the assets, capabilites, processes, information, and knowledge, that an organization used to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem.
Definition
resources
Term
___ is the extent to which people in a country accept that power is distributed equally in society and organizations.
Definition
Power distance
Term
__ is preferred by local managers who are charged with making the international business successful in their countries, which lowers the risk of using procedures that may be poorly suited to their country's market or culture.
Definition
Local Adaptation
Term
A cooperative contract is ___
Definition
an agreement in which a foreign business owner pays a company a fee for the right to conduct that business in his or her own country.
Term
Direct foreign investment occurs when ____
Definition
a company builds a new business in a foreign country or a company byts an existing business in a foreign country.
Term
Briefly identify the four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage.
Definition
Rare Resources
Valuable Resources
Imperfectly imitable resources
non-substitutable resources
Term
Explain the purpose of S.M.A.R.T. goals and provide an example.
Definition
Specific, Measurable, attainable, realistic, timely.
Term
List and define the three types of grand strategies.
Definition
Growth, Stability, Retrenchment
Term
Define global business
Definition
buying and selling of goods and services by people from different countries
Term
List the five types of non-tariff trade barriers.
Definition
Quotas. Gov. Subsidies, Gov. Import standards, customs classification, voluntary export restraints
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