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Management: Leading & Collaborating in a Competitive World
Chapter 4 & 6
40
Management
Undergraduate 1
10/26/2011

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Term
Situational Analysis
Definition
A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
Term
Goal
Definition
A target or end that management desires to reach.
Term
Plans
Definition
The actions or means managers intend to use to achieve organizational goals.
Term
Scenario
Definition
A narrative that describes a particular set of future conditions.
Term
Strategic Planning
Definition
A set of procedures for making decisions about the organization's long-term goals and strategies.
Term
Strategic Goals
Definition
Major targets or end results relating to the organization's long-term survival, and growth.
Term
Strategy
Definition
A pattern of actions and resource allocations designed to achieve the organization's goals.
Term
Tactical Planning
Definition
A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing.
Term
Operational Planning
Definition
The process of identifying the specific procedures and processes required at lower levels of the organization.
Term
Strategic Management
Definition
A process that involves managers from all parts of the organization in the formulation and implementation or strategic goals and strategies.
Term
Mission
Definition
An organization's basic purpose and scope of operations.
Term
Strategic Vision
Definition
The long-term direction and strategic intent of a company.
Term
Stakeholders
Definition
Groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies.
Term
Resources
Definition
Inputs to a system that can enhance performance
Term
Core Competence
Definition
A unique skill and/or knowledge an organization possess that gives it an edge over competitors.
Term
SWOT Analysis
Definition
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
Term
Corporate Strategy
Definition
The set of businesses, markets or industries in which an organization competes and the distribution of resources among those entities.
Term
Concentration
Definition
A strategy employed for an organization that operates a single business and competes in a single industry.
Term
Vertical Integration
Definition
The acquisition or development of new businesses that produce parts or components of the organization's product.
Term
Concentric Diversification
Definition
A strategy used to add new businesses that produce related products or are involved in related markets and activities.
Term
Conglomerate Diversification
Definition
A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets or activities.
Term
Business Strategy
Definition
The Major actions by which a business competes in a particular industry or market.
Term
Low-Cost Strategy
Definition
A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product.
Term
Differentiation Strategy
Definition
A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.
Term
Functional Strategies
Definition
Strategies implemented by each functional area of the organization to support the organization's business strategy.
Term
Strategic Control System
Definition
A system designed to support managers in evaluating the organizations progress regarding its strategy and, when discrepancies exist, taking corrective action.
Term
North American Free Trade Agreement (NAFTA)
Definition
A economic pact that combined the economies of United States, Canada, and Mexico into one of the World's largest trading blocs.
Term
Outsourcing
Definition
Contracting with an outside provider to produce one or more of an organization's goods or services.
Term
Off-Shoring
Definition
Moving work to other countries.
Term
International Model
Definition
An organizational model that is composed or a company's overseas subsidiaries and characterized by greater control by the parent company over the research function and local product and marketing strategies than is the case in the multinational model.
Term
Multinational Model
Definition
An organizational model that consists of the subsidiaries in each country in which a company does business, with ultimate control exercised by the parent company.
Term
Global Model
Definition
An organizational model consisting of a company's overseas subsidiaries and characterized by centralized decision making and tight control by the parent company over most aspects of worldwide operations; typically adopted by organizations that base their global competitive strategy on cost considerations.
Term
Transnational Model
Definition
An organizational model characterized by centralizing certain functions in locations that best achieve cost economies; basing other functions in the company's national subsidiaries to facilitate greater local responsiveness and fostering communication among subsidiaries to permit transfer to technological expertise and skills.
Term
Expatriates
Definition
Parent-company nationals who are sent to work at a foreign subsidiary.
Term
Host-Country Nationals
Definition
Natives of the country where an overseas subsidiary is located.
Term
Third-Country Nationals
Definition
Natives of a country other than the home country or the host country of an overseas subsidiary.
Term
Failure Rate
Definition
The number of expatriate managers of an overseas operation who come home early.
Term
Ethnocentrism
Definition
The tendency to judge others by the standards of one's group or culture, which are seen as superior.
Term
Culture Shock
Definition
The disorientation and stress associated with being in a foreign environment.
Term
Inpatriate
Definition
A foreign national brought in to work at the parent company.
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