Term
| Romantic view of leadership |
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Definition
| situations is which the leader is the key for determining the organization's success of lack of |
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| External control view of leadership |
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Definition
| situations in which external forces -- where the leader has limited influence -- determine the organization's success |
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Term
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Definition
| the analysis, decisions and actions an organization undertakes in order to create and sustain competitive advantage |
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Term
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Definition
Must become both a process and a way of thinking throughout the organization
> Directs the organization toward overall goals and obj
> Includes multiple stakeholders in decision making
> Needs to incorportae short-term & long term perspectives
> Recognized trade-offs btwn efficiency & effectiveness |
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Term
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Definition
| the idea, decisions, and action that enable a firm to succeed |
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Term
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Definition
| a firm's resources and capabilities that enable a firm to succeed |
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Term
| Operational Effectiveness |
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Definition
| performing similar activities better than rivals |
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Term
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Definition
| individual, groups and organizations who have a stake in the success of the organizations, including owners (shareholders in a publicly held corp,) employees, customers, suppliers, and the community at large. |
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Definition
| tailoring actions to the needs of an organization rather than wasting effort or "DOING THE RIGHT THING" |
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| performing actions at a low cost relative to a benchmark, or "DOING THINGS RIGHT" |
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| the challenge managers face of both aligning resources to take advantage of existing product markets as well as proactively exploring new opportunities (multi-tasker) |
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Term
| Strategic Management process |
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Definition
| strategy analysis, strategy formulation, and strategy implementation |
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Definition
| strategy in which organizational decisions are determined only by analysis |
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Term
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Definition
| Strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preferences |
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Definition
| study of firms external and internal environments and their fit with organizational vision and goals |
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Term
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Definition
> Consists of "advance work" that must be done in order to effectively formulate and implement strategies
> Starting point |
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| Decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage |
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Term
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> a firm's strategy formulation is developed at several levels
> Business-level, corporate-level, international, entrepreneurial |
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| actions made by firms that carry out the formulated strategy, including strategic controls, organizational design, and leadership |
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Term
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> ensuring proper strategic controls and organizational designs
> establishing effective means to coordinate and integrate activities within the firm as well as with suppliers, customers, and alliance partners |
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| the relationship among various participants in determining the direction and performance of corporation |
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Definition
| a firm's strategy for recognizing and responding to the interest of all its salient stakeholders |
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Definition
| Employees, Manager, Owner |
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Definition
| suppliers, society, gov't, creditors, shareholder, customers |
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| the expectation that businesses or individuals will strive to improve the overall welfare of society |
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Definition
| assessment of a firm's financial, social, and environmental performance |
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Definition
| organizational goals ranging from at the top (less specific, but powerful & compelling) -- VISION to at the bottom (more specific, measurable)-- MISSION, STRATEGIC OBJECTIVES |
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Definition
what the organization's WANTS to be
> future directed
> to inspire and focus employees & leaders |
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Definition
the organization's REASON for existing
> present
> directed internally to define key success measures to employees, leaders, and stock holders |
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Definition
| practice wherein the internet is used to tap a broad range of individuals and groups to generate ideas & solve problems |
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