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MGMT 466 - Ch 12
Strategic Leadership
21
Management
Undergraduate 4
12/11/2009

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Term
strategic leadership
Definition
__ is the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary
Term
1. external environmental sources such as the industry structure, the rate of market growth in the firm's primary industry, and the degree to which products can be differentiated 2. characteristics of the organization, including its size, age, resources, and culture 3. characteristics of the manager, including commitment to the firm and its strategic outcomes, tolerance for ambiguity, skills in working with different people, and aspiration levels
Definition
3 primary factors that determine the amount of decision-making discretion held by a manager (especially a top level manager)
Term
top management team
Definition
the __ is composed of the key individuals who are responsible for selecting and implementing the firm's strategies
Term
heterogeneous top management team
Definition
a __ is composed of individuals with different functional backgrounds, experience, and education
Term
internal managerial labor market
Definition
a __ consists of a firm's opportunities for managerial positions and the qualified employees within that firm
Term
external managerial labor market
Definition
a __ is the collection of managerial career opportunities and the qualified people who are external to the organization in which the opportunities exist
Term
Definition
pg 349, Managerial Labor Market 2x2 matrix
Term
determining the strategic direction
Definition
__ involves specifying the image and character the firm seeks to develop over time
Term
competitive agility
Definition
__ is an ability to act in a variety of competitively relevant ways
Term
competitive speed
Definition
__ is an ability to act quickly when facing environmental and competitive pressures
Term
human capital
Definition
_ refers to the knowledge and skills of a firm's entire workforce
Term
social capital
Definition
__ involves relationships inside and outside the firm that help the firm accomplish tasks and create value for customers and shareholders
Term
organizational culture
Definition
a __ consists of a complex set of ideologies, symbols, and core values that are shared throughout the firm and influence the way business is conducted
Term
1. autonomy 2. innovativeness 3. risk taking 4. proactiveness 5. competitive aggressiveness
Definition
5 dimensions of entrepreneurial orientation
Term
autonomy
Definition
__ is a dimension that allows employees to take actions that are free of organizational constraints and permits individuals and groups to be self-directed
Term
innovativenes
Definition
__ is a dimension that reflects a firm's tendency to engage in and support new ideas, novelty, experimentation, and creative processes that may result in new products, services, or technological processes
Term
risk taking
Definition
__ is a dimension that reflects a willingness by employees and their firm to accept risks when pursuing entrepreneurial opportunities
Term
proactiveness
Definition
__ is a dimension that describes a firm's ability to be a market leader rather than a follower
Term
competitive aggressiveness
Definition
__ is a dimension that is a firm's propensity to take actions that allow it to consistently and substantially outperform its rivals
Term
1. establishing and communicating specific goals to describe the firm's ethical standards 2. continuously revising and updating the code of conduct, based on inputs from people throughout the firm and from other stakeholders 3. disseminating the code of conduct to all stakeholders to inform them of the firm's ethical standards and practices 4. developing and implementing methods and procedures to use in achieving the firm's ethical standards 5. creating and using explicit reward systems that recognize acts of courage 6. creating a work environment in which all people are treated with dignity
Definition
6 actions strategic leaders can take to develop an ethical organizational culture
Term
balanced scorecard
Definition
the __ is a framework firms can use to verify that they have established both strategic and financial controls to assess their performance
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