Term
| Romantic View of Leadership |
|
Definition
| Situations in which the leader is the key force determining the organization's success-- or lack thereof |
|
|
Term
| External Control View of Leadership |
|
Definition
| Situations in which external forces-- where the leader has limited influence-- determine the organization's success |
|
|
Term
|
Definition
| The analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages |
|
|
Term
|
Definition
| The ideas, decisions, and actions that enable a firm to succeed |
|
|
Term
|
Definition
| A firm's resources and capabilities that enable it to overcome the competitive forces in its industry(ies) |
|
|
Term
| Operational Effectiveness |
|
Definition
| Performing similar activities better than rivals |
|
|
Term
|
Definition
| Individuals, groups, and organizations who have a stake in the success of the organization, including owners (shareholders in a publicly held corporation), employees, customers, suppliers, and the community at large |
|
|
Term
|
Definition
| Tailoring actions to the needs of an organization rather than wasting effort, or "doing the right thing." |
|
|
Term
|
Definition
| Performing actions at a low cost relative to a benchmark, or "doing things right." |
|
|
Term
|
Definition
| The challenge managers face of both aligning resources to take advantage of existing product markets as well as proactively exploring new opportunities |
|
|
Term
| Strategic Management Process |
|
Definition
| Strategy analysis, strategy formulation, and strategy implementation |
|
|
Term
|
Definition
| Strategy in which organizational decisions are determined only by analysis |
|
|
Term
|
Definition
| Strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preferences |
|
|
Term
|
Definition
| Study of firms' external and internal environments, and their fit with organizational vision and goals |
|
|
Term
|
Definition
| Decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage |
|
|
Term
|
Definition
| Actions made by firms that carry out the formulated strategy, including strategic controls, organizational design, and leadership |
|
|
Term
|
Definition
| The relationship among various participants in determining the direction and performance of corporations. The primary participants are (1) the shareholders, (2) the management (led by the chief executive officer), and (3) the board of directors |
|
|
Term
|
Definition
| A firm's strategy for recognizing and responding to the interests of all its salient stakeholders |
|
|
Term
|
Definition
| Practice wherein the Internet is used to tap a broad range of individuals and groups to generate ideas and solve problems |
|
|
Term
|
Definition
| The expectation that businesses or individuals will strive to improve the overall welfare of society |
|
|
Term
|
Definition
| Assessment of firm's financial, social, and environmental performance |
|
|
Term
|
Definition
| Organizational goals ranging from, at the top, those that are less specific yet able to evoke powerful and compelling mental images, to, at the bottom, those that are more specific and measurable |
|
|
Term
|
Definition
| Organizational goal(s) that evoke(s) powerful and compelling mental images |
|
|
Term
|
Definition
| A set of organizational goals that include both the purpose of the organization, its scope of operations, and the basis of its competitive advantage |
|
|
Term
|
Definition
| A set of organizational goals that are used to operationalize the mission statement and that are specific and cover a well-defined time frame |
|
|
