Term
|
Definition
| the approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity |
|
|
Term
| functional strategy is at the __________ phase of the SM model |
|
Definition
|
|
Term
| The orientation of the Functional Strategy is dictated by the strategy of the ___________. |
|
Definition
|
|
Term
| If a Functional area does not have a __________, it is a candidate for ___________! |
|
Definition
Distinctive Competency,
outsourcing |
|
|
Term
| the 7 errors of outsourcing |
|
Definition
Outsourcing the wrong activities
Selecting the wrong vendor
Poorly written contracts
Personnel issues
Lack of control
Hidden (transaction) costs
Lack of an exit strategy |
|
|
Term
| the 5 strategies to be avoided at ANY LEVEL |
|
Definition
1. follow the leader
2. Hit another home run (
3. Arms race
4. Do everything
5. losing hand |
|
|
Term
|
Definition
| unwillingness to accept failure |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Searches for another “super product.” |
|
|
Term
|
Definition
| Gains are often offset by losses in R&D, Marketing, and Operations costs. |
|
|
Term
|
Definition
|
|
Term
| Most important criterion of choosing a strategy: |
|
Definition
| ability to deal with the Strategic Factors in the SWOT! |
|
|
Term
One popular technique that can
be used to gain additional
insight into a proposed strategy
is ___________ |
|
Definition
|
|
Term
| corporate scenarios Use ___________ to forecast the effect of a given strategy on ___________ |
|
Definition
accounting information
ROI |
|
|
Term
Four factors that can affect the
selection of a strategy include:
-- Management’s Attitude Toward ______
-- Pressure from _______
-- Pressure from the ___________
-- Needs and Desires of Key ________ |
|
Definition
Risk
Stakeholders
Corporate Culture
Managers |
|
|
Term
| def: the process of strategic choice: |
|
Definition
| The evaluation of alternative strategies and selection of the best alternative |
|
|
Term
| the process of strategic choice should NOT be based on ___________ |
|
Definition
|
|
Term
| the process of strategic choice should be based on the 3 D's |
|
Definition
| discussion, disagreement, & debate |
|
|
Term
|
Definition
| Devil’s Advocate or Dialectical Inquiry |
|
|
Term
| A strategic alternative should meet these four criteria: |
|
Definition
Mutual Exclusivity:
Success:
Completeness:
Internal Consistency: |
|
|
Term
| POLICIES should provide guidance for |
|
Definition
| decision-making and actions throughout the organization |
|
|
Term
| managing policy is one way to manage the organization's _________ |
|
Definition
|
|
Term
| effective policies force trade-offs between competing __________ |
|
Definition
|
|
Term
| effective policies test the _____________ of a particular action |
|
Definition
|
|
Term
| effective policies ________________ within which employees must operate while granting them freedom to experiment within those constraints |
|
Definition
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