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Definition
| Involves identifying and taking action to resolve problems. |
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| Add value to organizations through their intellectual capabilities. |
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| The ability to understand new technologies and to use them to their best advantage. |
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| The ability to gather and use info. to solve problems. |
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| The ability to evaluate and analyze info. to make actual decisions and solve real problems. |
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| A situation where something is wrong or likely to be wrong. |
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| A situation that offers the possibility of a better future if the right steps are taken. |
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| A choice among possible alternative courses of action. |
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| Applies a solution from past experience to a routine problem. |
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| Applies a specific solution that has been crafted to address a unique problem. |
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| Approaches problems in a rational and analytical fashion. |
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| Approaches problems in a flexible and spontaneous fashion. |
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| The way an individual deals with info. while making decisions. |
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Definition
| Offers complete info. on possible action alternatives and their consequences. |
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| Lacks complete info. but offers probabilities of the likely outcomes for possible action alternatives. |
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| Lack so much info. that it's difficult to assign probabilities to the likely outcomes of alternatives. |
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| Describes decision making with complete info. |
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| Choose the alternative providing the absolute best solution to a problem. |
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| Behavioral Decision Model |
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Definition
| Describes decision making with limited info. and bounded rationality. |
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Definition
| Chooses the first satisfactory alternative that presents itself. |
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| Lack-of-participation-error |
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Definition
| Failure to include the right people in the decision-making process. |
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Definition
| Highlight the risks of public disclosure of one's actions. |
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| The generation of a novel idea/unique approach that solves a prob. or crafts an opportunity. |
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Definition
| Occurs when extraordinary things are done by exceptional people. |
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Definition
| Occurs when average people come up with unique ways to deal with daily events/situations. |
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| Personal Creativity Drivers |
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Definition
| Task expertise, task motivation, creativity skills. |
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Definition
| Uses readily available info. to assess a current situation. |
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| Representativeness Heuristic |
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Definition
| Assesses the likelihood of an occurrence using a stereotyped set of similar events. |
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| Anchoring and Adjustments Heuristic |
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Definition
| Adjust a previously existing value or starting point to make a decision. |
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| Solving a problem in the context perceived. |
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| When we attend only to info. that confirms a decision already made. |
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| The continuation of a course of action even though it's not working. |
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| Unexpected problem that can lead to disaster if not resolved quickly and appropriately. |
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Definition
| The process of setting performance objectives and determining how to accomplish them. |
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| Specific results that one wishes to achieve. |
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| Statement of intended means for accomplishing objectives. |
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| Being lulled into inaction by current successes or failures. |
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| Lower-level objectives help to accomplish higher-level objectives. |
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Term
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Definition
| Usually cover a year or less. |
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| Usually cover three years or more. |
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| Identifies long-term directions for the org. |
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Definition
| Clarifies the purpose of the org. and expresses what it hopes to be in the future. |
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Term
| Operation Plan/Tactical Plan |
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Definition
| Sets out ways to implement a strategic plan. |
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Definition
| Identifies how different parts of an enterprise will contribute to accomplishing strategic plans. |
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| A standing plan that communicates broad guidelines for decisions and actions. |
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| Precisely describes actions to take in specific situations. |
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| Plan that commits resources to projects or activities. |
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| Allocates resources as if each budget was brand new. |
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| Attempts to predict the future. |
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Definition
| Identifies alternative courses of action to take when things go wrong. |
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Definition
| Identifies alternative future scenarios and makes plans to deal with each. |
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Definition
| Uses external comparisons to gain insights for planning. |
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Term
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Definition
| Methods that lead to superior performance. |
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Term
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Definition
| Includes the persons who will be affected by plans and/or who will be asked to implement them. |
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Term
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Definition
| Performance targets that we have to work extra hard and stretch to reach. |
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Term
| 5 Criteria for Great Goals |
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Definition
Specific - Clearly target key results and outcomes to be accomplished.
Timely - Linked to specific timetables and due dates.
Measurable - Described so results can be measure without ambiguity.
Challenging - Include a stretch factor that moves towards real gains.
Attainable - Although challenging, realistic and possible. |
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Term
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Definition
| The process of measuring performance and taking action to ensure desired results. |
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Term
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Definition
1. Establish performance objectives/standards.
2. Measure actual performance.
3. Compare actual performance with objectives/standards.
4. Take necessary action. |
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Term
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Definition
| Measures performance results in terms of quantity, quality, cost, or time. |
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Term
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Definition
| Measures work efforts that go into a performance task. |
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Term
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Definition
| Focuses attention on differences between actual and desired performance. |
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Term
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Definition
| Ensures clear directions and needed resources before the work begins.(solve probs. before they occur) |
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Term
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Definition
| Focuses on what happens during the work process. (Solve prob. while they are occurring) |
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Term
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Definition
| Takes place after completing an action. (Solve prob. after they occur) |
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| Internal Control/Self-Control |
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Definition
| Occurs as people exercise self-discipline in fulfilling job expectations. |
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Definition
| Occurs through direct supervision or administrative systems. |
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Definition
| Influences behavior through authority, policies, procedures, job descriptions, budgets, and day to day supervision. |
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Definition
| Influences behavior through social norms and peer expectations. |
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Definition
| Essentially the influence of market competition on the behavior of orgs. and their members. |
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Definition
| A process of joint objective setting between a superior and a subordinate. |
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Definition
| Document intentions to improve performance in a specific way. |
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| Personal Development Objectives |
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Definition
| Document intentions to accomplish personal growth, such as expanded job knowledge/skills. |
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Term
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Definition
| Comprehensive plan guiding resource allocation to achieve long-term org. goals. |
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Term
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Definition
| Focuses org. energies on achieving a compelling goal. |
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Term
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Definition
| An ability to outperform rivals. |
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| Sustainable Competitive Advantage |
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Definition
| Achieved in ways that are difficult to imitate. |
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Term
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Definition
| Sets long-term direction for the total enterprise. |
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Term
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Definition
| Identifies how a division or strategic business unit will compete in its product/service domain. |
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Definition
| Guides activities within one specific area of operations. |
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Definition
| Involves expansion of the orgs. current operations. |
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Term
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Definition
| Expansion within an existing biz. (More of same thing) |
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Term
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Definition
| Expansion by entering related or new biz areas. (Pepsi making teas) |
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Term
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Definition
| Occurs by acquiring supplies/distributors. |
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Term
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Definition
| Changes operations to correct weaknesses. |
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Term
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Definition
| Occurs when a biz closes and sells its assets to pay creditors. |
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Term
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Definition
| Reduces the scale or mix of operations. |
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Term
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Definition
| Protects an insolvent firm from creditors during a period of reorganization to restore profitability. |
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Term
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Definition
| Decreases the size of operations. |
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Term
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Definition
| Involves selling off parts of the org. to refocus attention on core biz areas. |
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Term
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Definition
| Adopts standardized products and advertising for use worldwide. |
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Term
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Definition
| Tries to operate globally without having a strong national identity. |
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Term
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Definition
| Orgs. join together in partnership to pursue an area of mutual interest. |
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Definition
| Strategy of working with rivals on projects of mutual benefit. |
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Term
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Definition
| Strategically uses the internet to gain competitive advantage. |
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Term
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Definition
| Uses internet and web portals to link orgs. vertically in supply chains. |
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Term
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Definition
| Uses internet and web portals to link biz with customers. |
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Term
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Definition
| Uses social media to better engage with an orgs customers, clients, etc. |
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Term
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Definition
| Strategy uses the internet to engage customers and potential customers in providing opinions and suggestions on products and their designs. |
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Term
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Definition
| The process of formulating and implementing strategies. |
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Term
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Definition
The process of creating strategies.
1. Review current situation
2. Analyze org. and external environment.
3. Develop new strat. |
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Term
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Definition
The process of putting strategies into action.
1. Implement strategies.
2. Evaluate results. |
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Term
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Definition
| The orgs. reason for existence in society. |
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Term
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Definition
| Specific results that orgs. try to accomplish. |
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Term
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Definition
| Examines organizational strengths and weaknesses, as well as environmental opportunities and threats. |
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Definition
| A special strength that gives an organization a competitive advantage. |
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Term
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Definition
1. Competitors - Intensity of rivalry among firms in industry.
2. New Entrants - Threats of new competitors entering the market.
3. Suppliers - Bargaining power of suppliers.
4. Customers - Bargaining power of buyers.
5. Substitutes - Threats of substitute product/service. |
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Term
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Definition
| Offers products that are unique and different from those of competition. |
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Term
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Definition
| Seeks to operate with lower costs than competitors. |
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Term
| Focused Differentiation Strategy |
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Definition
| Offers a unique product to a special market segment. |
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Term
| Focused Cost Leadership Strategy |
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Definition
| Seeks the lowest costs of operations within a special segment. |
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Term
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Definition
| Analyzes biz opportunities according to market growth rate and market share. |
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Definition
| Inspires people to implement org. strategies. |
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Term
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Definition
| Makes sure strategies are well implemented and that poor strategies are scrapped/changed. |
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